Zirconium Oxide Market to Record CAGR of 8.0% Increase in Revenue by 2026

Zirconium Oxide Market Study Analysis

The Zirconium Oxide market is projected to register a CAGR of over 8% by 2026. Zirconium oxide, also known as ZrO2, is an inorganic compound that has multiple applications in various industries, such as electronics, automotive, aerospace and defense, and healthcare.

Zirconium oxide, also referred to as zirconia (ZrO2), is a white, crystalline zirconium oxide that is primarily utilised in the manufacture of high-tech ceramics. In addition to having a very high mechanical strength and resistance to wear, zirconium oxide exhibits good chemical and corrosion inertness at very high temperatures. It is used as a significant refractory material as a result of these physical, chemical, and mechanical properties. Additionally, it is used to make abrasives, enamels, and insulation.

Zirconium oxide is extremely beneficial for the production of electro-ceramics and electrochromic devices because it has strong ionic conductivity and low electronic conductivity. Because of its biocompatibility, strength, and beauty, zirconium oxide is widely used as a dental ceramic for crowning teeth. The global zirconium oxide market is anticipated to grow rapidly between 2016 and 2026 as a result of its numerous applications in a variety of end-use industries, particularly the ceramic industry.

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Market Dynamics

Over the last couple of years, the global ceramic industry has seen a significant change in terms of product offerings; aestheticism along with good strength has become an important factor affecting customers' buying behavior. Zirconium oxide provide excellent properties of strength, wear resistance and hardness in ceramic materials.

Due to high chemical inertness of zirconium oxide, the ceramics can withstand attack from various acids, bases and organic solvents, which makes it an ideal choice for the manufacture of different kind of ceramics such as advanced technical ceramics, decorative ceramics, conductive ceramics etc. Besides, zirconium oxide is increasingly being utilized for its newer applications such as in high performance knives, scissors and other various industrial applications.

Cubic zirconium oxide possess very good optical properties due to which it is also used as a diamond simulant in jewelries. With a vast and growing application portfolio, the global zirconium oxide market is expected to expand at a high CAGR over the forecast period.

Zirconium oxide exists in three different crystal phases at different temperatures. During the crystal phase change at varied temperatures, it loses some of its mechanical properties.

The crystal structure of zirconium oxide is stabilized by introducing some effective dopants such as magnesium oxide, yttrium oxide etc. in order to sustain its high strength and other mechanical properties. Proper doping, along with maintaining continuous supply of raw materials, is one of the significant challenges faced by the market players in the global zirconium oxide market.

Market Segmentation

On the basis of the application
• Ceramics
• Ceramic Colors and Pigments
• Diamond Simulant
• Electroceramics
• Solid Electrolytes
• Optical Fiber
• Coatings
• Refractories
• Catalysts
• Others
• Regional Outlook

Geographically, global zirconium oxide market is segmented into seven main regions, which are North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Middle East & Africa and Japan. APEJ is the prime region in the global zirconium oxide market with China leading the APEJ market. Additionally, Asia-pacific is expected to be one the fastest growing region in the global zirconium oxide market over the period of 2016-2026.

High demand from ceramic industry is expected to drive the zirconium oxide market in China through 2026.

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Key Players

Key players reported across the value chain of global zirconium oxide market include SAINT-GOBAIN, Astron Limited, Allegheny Technologies Incorporated, Cristal Mining, Luxfer Holdings PLC, Foskor Zirconia (Pty) Ltd., and others.

The report covers exhaustive analysis on:
• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Technology
• Value Chain

Regional analysis includes:
• North America (U.S., Canada)
• Latin America (Mexico. Brazil)
• Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia & New Zealand)
• Japan
• Middle East and Africa (GCC, S. Africa, N. Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Report Highlights
• Detailed overview of parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprint

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