Global Zirconium Oxide Market Analysis, Size, Share, Growth, Trends, and Forecast 2016-2026: CAGR 7.5%

Global Industry Analysis

Zirconium oxide, also known as zirconia, is a white crystalline oxide of zirconium. It has excellent mechanical properties, high thermal resistance, and good electrical conductivity, making it an essential material in various applications, including ceramic manufacturing, electrical and electronic industries, aerospace, and medical implants. The global zirconium oxide market has been growing significantly over the years, and this report will analyze the current market trends, drivers, challenges, and future prospects.

Market Size and Growth

According to the latest market research report by Persistence Market Research, the global zirconium oxide market was valued at USD 4.2 billion in 2016 and is expected to grow at a CAGR of 7.5% from 2016 to 2026. The increasing demand for zirconia in various end-use industries such as ceramics, electronics, and medical implants is driving the market growth. Moreover, the growing use of zirconia in advanced structural ceramics, such as thermal barrier coatings and refractory materials, is further boosting market growth.

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 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
• Market Supply & Demand
• Market Current Trends/Issues/Challenges
• Competition & Companies involved
• Manufacturing Technology
• Market Value Chain

Regional analysis includes:

• North America (U.S., Canada)
• Latin America (Mexico. Brazil)
• Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Benelux Countries)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Oceania)
• Japan
• Middle East and Africa (GCC, S. Africa, N. Africa)

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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