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Zirconium Market 2024 - Industry Production, Trends, Sales, Supply, Demand, Analysis & Forecast to 2032
Zirconium Market
Zirconium is a versatile transition metal known for its strength, durability, and resistance to corrosion, heat, and chemicals. It is widely used in manufacturing across various industries, from plumbing fittings to high-tech applications like space shuttle heat shields and solid oxide fuel cells in hydrogen-powered vehicles.
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Key Market Drivers
A significant factor fueling the growth of the zirconium market is its increasing demand in the nuclear power industry. Zirconium's high structural strength and low neutron absorption make it ideal for cladding fuel rods, which are essential components in nuclear reactors.
Additionally, zirconium's role in the ceramics industry is gaining prominence. It is increasingly used to manufacture high-performance materials like refractories, abrasives, and glazes, driven by the growth of the construction, electronics, and aerospace sectors. The exceptional heat resistance and mechanical strength of zirconium-based compounds, particularly zirconium dioxide (zirconia), are widely recognized in ceramic applications.
Furthermore, technological advancements in the healthcare sector are also driving demand for zirconium products. For example, Dentsply Sirona introduced a new zirconium oxide product in October 2021, which combines high translucency with strength, making it suitable for dental bridges, crowns, and veneers.
Challenges to Market Growth
Despite its promising outlook, the zirconium market faces some challenges. These include regulatory constraints around zirconium use and mining, the availability of alternative materials in ceramics, and price fluctuations for raw materials. These factors may slow down market growth.
Segment Insights
On the basis of occurrence type, zircon, which is known for its hardness and durability, holds the largest share of the zirconium market. Zircon is an essential material in manufacturing ceramics and refractory tiles, as well as in other high-tech applications, including armor plating for military aircraft and industrial sensors. Leading companies such as Imerys, a top producer of fused zirconia, are playing a crucial role in driving the market forward.
The zirconia segment, which includes zirconium dioxide, is also showing solid growth due to its excellent properties, such as high-temperature stability and corrosion resistance. New product launches, such as the BruxZir Esthetic Implant Prosthesis introduced in February 2020, have reinforced its role in the medical and dental sectors.
In terms of form, zirconium is available in both powder and crystal form. Powdered zirconium is particularly popular in industries such as pharmaceuticals, cosmetics, and food processing due to its easy-to-handle nature. Zirconium powder is also gaining importance in sustainable production practices, aligning with global efforts toward environmentally friendly materials.
End-Use Applications
The ceramics industry is the largest consumer of zirconium, accounting for a significant share of market revenue. Ceramics made from zirconium are highly resistant to heat, corrosion, and mechanical stress, making them essential for electronic components, semiconductor devices, and medical implants. Additionally, ceramics are recyclable and eco-friendly, further contributing to their market dominance.
Zirconium also plays a vital role in other industries, including aerospace, electronics, and healthcare, where its durability and heat resistance are highly valued.
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Zirconium Top Companies and Competitive Landscape
The global zirconium market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective zirconium products in the market.
Some of the major companies included in the global zirconium market report are:
ATI Inc.
Astron Group.
Alkane Resources Ltd.
Base Resources.
Doral Mineral Sands Pty Ltd.
Iluka Resources Limited
Kenmare Resources plc.
Rio Tinto
Saint-Gobain
Tosoh
Tronox Holdings plc
Exxaro.
The Chemours Company.
Southern Ionics Incorporated
Zircomet Limited
Murray Ziron
Luxfer MEL Technologies
Xiamen Mascera Technology Co., Ltd.
Australian Strategic Materials Ltd.
DuPont.
Zirconium Latest Industry Updates
In December 2021, ARTMS Inc., the US-based commercial nuclear pharmacy (ARTMS, announced that zirconium-89 (89Zr) oxalate is being produced with a low energy medical cyclotron. After exposing the ARTMS yttrium-89 solid target to low activity radiation for 60 minutes, production yielded over 40 millicuries of 89Zr. The QUANTM Irradiation System (QISTM) from ARTMS enables commercial nuclear pharmacies to manufacture 89Zr locally, reducing dependency on isotopes produced centrally.
On 15 October, 2020, Advanced Metallurgical Solutions (ASM) achieved a significant milestone by manufacturing 8.6 kg of high-purity zirconium metal powder in Korea. This zirconium powder is of high grade, with an assay of 98% zirconium and 1.5% hafnium. Significantly, it fulfilled the Korean Atomic Energy Research Institute's stringent standards, signifying its suitability for use in wide range of applications, including those within the nuclear industry.
Zirconium Market Segmentation Analysis
For the purpose of this report, Emergen Research has segmented the global zirconium market on the basis of product type, forms, occurrence type, process, application, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2019-2032)
Industrial Zirconium Oxide
Ultrafine Zirconium Oxide
Others
Forms Outlook (Revenue, USD Billion; 2019-2032)
Crystal
Powder
Occurrence Type Outlook (Revenue, USD Billion; 2019-2032)
Zircon
Zirconia
Others
Process Outlook (Revenue, USD Billion; 2019-2032)
Hydrothermal Method
Precipitation Method
Application Type Outlook (Revenue, USD Billion; 2019-2032)
Nuclear Grade
Industrial Grade
Firearm Grade
End-use Outlook (Revenue, USD Billion; 2019-2032)
Nuclear Industry
Ceramics Industry
Chemical Industry
Foundry Industry
Electronics Industry
Aerospace Industry
Medical Industry
Refactory Industry
Glass Industry
Others
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Regional Outlook (Revenue, USD Billion; 2019-2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa
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About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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