Rising demand of Zirconium in Ceramics industry and nuclear power Industry will increase the Zirconium Market!
Published Date | 2019 February 25
Demand for zirconium-based construction materials such as sanitary ware and tableware, uses of zirconium alloys in dental implants which give high fracture toughness will boost zirconium market in upcoming year. Moreover, the major factor driving the market growth is the growing use of zirconium in foundries and refractories.
Furthermore, growth in the global automobile production and mechanical engineering industries is fuelling the demand for cast parts, which, in turn, is accelerating the growth of zirconium market. Additionally, Zirconium technology helps manufacturers build nuclear grade zirconium material and develop a wide variety of components for water-cooled nuclear power plant projects, which will contribute to zirconium market growth during the forecast period and augmented demand from ceramics industry is a key driver aiding to the growth of Zirconium market.
According to BlueWeave Consulting, The Global Zirconium Market is expected to grow with a significant rate during the forecast period 2019-2025 owing to major demand of zirconium in various industry such as ceramics, medical, automobile, and nuclear power industry.
Zirconia Occurrence- type of Zirconium market is projected to be the leading segment of the overall market during the forecast period
On the basis of product type, the Zirconium market has been segmented into Zircon, Zirconia, and others. Zirconia dominates the global Zirconium owing to its good chemical and corrosion inertness at very high temperatures along with very high mechanical strength and wear resistance, due to such physical, chemical and mechanical properties; it is used as an important refractory material. Furthermore, it is also used in insulation, enamels and in the manufacture of abrasives. Zircon market will drive by rise in demand of use of zircon in ceramics, television glass, and refractory and foundry applications.
Ceramics is projected to leading industry for utilizing applications of the Zirconium during forecast period
On the basis of application, the global Zirconium market has been segmented into Ceramics, Refractories, Foundry Sand, Zircon Chemicals and Others. By application type, Ceramics will lead the market owing to growth the construction industry. The residential segment of the construction industry uses ceramics in sanitary ware, ceramic tiles, table and ornamental ware, bricks, and pipes. The zircon chemicals market is expected to grow at the fastest rate during the forecast period owing to its in applications such as automobile and industrial catalysts, ware materials, dielectric and piezoelectric devices, oxygen sensors, and fuel cells
Asia accounts for lion share of the global Zirconium market during the anticipated period.
On the basis of region, the Zirconium market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia dominates the world Zirconium market over the forecast period owing to growing demand for applications of zirconium in various industries, such as ceramics, medical and healthcare, and construction is one of the key factors estimated to encourage the growth of the Asia market in upcoming periods.
Global Zirconium Market Competitive Landscape
Companies, such 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 Sand are the key players in manufacturing Zirconium.
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of Global Zirconium Market size & forecast. The report promises to provide state-of-the-art technology of Zirconium production and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
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