Zirconium Market Segment Forecasts up to 2024.

The global zirconium market, at present has been recovering from the waning, which it faced in the last few years. With the rising number of applications, the global zirconium market is expected to witness healthy growth throughout the forecast period. The rising focus of key players on new product development and innovations is likely to contribute extensively towards the development of the overall market in the next few years. The growing awareness regarding the benefits of zirconium is another factor projected to supplement the growth of the overall market in the coming years.

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The research study on the global zirconium market provides a comparative analysis, focusing on the major factors that are estimated to impact the growth of the market in the near future. The growth drivers, opportunities, technological developments, and restraints in the global zirconium market have been discussed at length to offer a strong understanding of the overall market. In addition, the product segmentation, applications, and the key geographical segments in the global market have been highlighted in the scope of the study. An in-depth analysis of the competitive landscape of the global zirconium market has been included to guide the new entrants in making appropriate business decisions in the forecast period.

Global Zirconium Market: Drivers and Restraints

The rising demand for zirconium from the nuclear power industry and the ceramics industry is one of the vital factors expected to encourage the growth of the global zirconium market in the next few years. In addition, the rising demand from China and the growing focus on technological developments are some of the other factors estimated to accelerate the growth of the market in the next few years.

On the other hand, the rising gap between supply and demand, high tariffs, and stringent mining policies are some of the key factors anticipated to restrict the growth of the global zirconium market throughout the forecast period. Moreover, the volatility in the prices of raw materials is estimated to hamper the growth of the market. Nonetheless, the expansion of the application base, growing demand, and the use of zirconium as a better replacement for titanium in the dentistry are expected to generate promising opportunities for the key players operating in the market.

Global Zirconium Market: Region-wise Outlook

Among the key geographical segments, Asia Pacific is expected to lead the global zirconium market and register a healthy growth rate in the next few years. The growing demand for zirconium across diverse industries, such as ceramics, medical and healthcare, and construction is one of the key factors estimated to encourage the growth of the Asia Pacific market in the next few years. The high contribution from China, Japan, South Korea, and India is expected to supplement the growth of the market in the near future.

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Furthermore, the North America market for zirconium stands in the second position in the global market in terms of revenue. The significant growth of this region can be attributed to the growing demand from the ceramics and nuclear energy industries. Europe and the Rest of the World segments are also expected to witness healthy growth throughout the forecast period with the growing demand for zirconium across diverse industries.

Key Players Mentioned in the Research Report are:

According to the research study, the zirconium market is highly consolidated in nature and is estimated to witness entry of several players in the near future. Some of the key players operating in the global zirconium market are Tosoh, Iluka Resources, Tronox, Richards Bay Minerals, Foskor, Alkane Resources, Astron, Kenmare Resources, Moly, Astron Advanced Materials, Wah Chang, Australian Zircon, EI DuPont de Nemours, Bemax Resources, Exxaro Resources, Luxfer Group, Rio-Tinto, Smartac Group China Holdings, and Namakwa Sands.

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