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Zirconium Market Size, Share, Industry & Opportunities 2031

Zirconium Market

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Segments - by Occurrence Types (Zircon, Zirconia, and Others [Zirconium Metal]), Products (Zircon Flour/Sand, Zircon Opacifier, Refractories (Zirconia), Zircon Chemicals [Zircon Oxychloride (ZrOCl2), Zircon Sulfate (Zr(SO4)2), and Others], and Zircon Metal), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author:

Riddhesh Dani

Fact-checked by:

Harneet Meher

Editor:

Shruti Bhat

Report Description

The Global Zirconium Market size was valued at USD 2.10 Billion in 2022 and is expected to surpass USD 4.20 Billion by 2031, expanding at a CAGR of 8% during the forecast period, 2023 – 2031. The growth of the market is attributed to the increasing use of zirconium in the ceramics and foundry industries.

Zirconium is highly preferred in the ceramics industry owing to its properties such as a high refractive index, and due to its inducing white color. Its ability to impart high mechanical strength, toughness, and durability to ceramic bodies and glass matrices are driving the growth of the market.

In foundry applications, it is used widely as a molding base material for sand casting, investment casting, and Cosworth casting (aluminum). It is also used as mold coatings in die casting and refractory paints and washes, as it reduces the wettability of other foundry sands.

Market Drivers, Restraints, Trends, and Opportunities

Rising adoption of zirconium in aviation and automotive application as a protective coating is driving the market growth.
Increasing replacement of steel dental implants with zirconium alloys, along with extensive research and development (R&D) activities are anticipated to spur the growth of the market.
Rapid growth of foundry, refractories, and ceramics industries is expected to propel the market in the projected timeline.
Reducing dependence on zircon and the impact of COVID-19 pandemic can create challenges for the market growth.
Significant growth opportunities in the nuclear power industry across the globe is one of the key factors driving the growth of the market.

Scope of Zirconium Market Report

The report on the global zirconium market includes an assessment of the market, trends, segments and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Zirconium Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Occurrence Types (Zircon, Zirconia, and Others [Zirconium Metal]), Products (Zircon Flour/Sand, Zircon Opacifier, Refractories (Zircon), Zircon Chemicals [Zircon Oxychloride (ZrOCl2), Zircon Sulfate (Zr(SO4)2), and Others], and Zircon Metal)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Iluka Resources Limited, Eramet, Kenmare Resources PLC, Tronox Holdings plc, and Rio Tinto

Global Zirconium Market Segment Insights

Others segment to account a major market share

Based on types, the market is segregated into zircon, zirconia, and others The other segment includes zirconium metal. The others segment is anticipated to account for a major market share during the forecast period. Zirconium is used for cladding or outer covering in fuel rods due to its properties, such as high structural strength and low neutron absorption.

Moreover, widespread adoption of zirconium alloys for the manufacturing of flashbulbs, surgical instruments, explosive primers, and rayon spinneret are spurring the segment growth. It is also used in the manufacturing of modern porcelain tiles due to its ability to bind with organic and inorganic sand binders.

Zircon flour/sand segment to hold a significant market share

Based on products, the market is divided as zircon flour/sand, zircon opacifier, refractories (zircon), zircon chemicals, and zircon metal. The zircon chemicals segment is segmented into zircon oxychloride (ZrOCl2), zircon sulfate (Zr(SO4)2), and others. The zircon flour/sand segment is expected to account for a significant market share during the forecast period.

Zircon is mostly used in the flour form to introduce zirconium to frit compositions, or as micronized zircon to produce glazes, engobes, and ceramic body compositions. Zircon sand is employed to improve the abrasion resistance of glazed surfaces, particularly for floor tiles.

Zircon sand is widely used in ceramics and foundry industries due to its various properties, such as the ability to bind with all organic and inorganic sand binders, low acidity, low thermal expansion coefficient, high spatial stability at increased temperatures, chemical stability at high temperatures, and sound recyclability.

The market in Asia Pacific to exhibit a high CAGR

Based on geography, the market is segregated into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is anticipated to exhibit a high CAGR during the forecast period.

The IMF estimated a growth rate of 1.9% for China in 2020, and the growth is expected to expand at a rate of 8.2% in 2021, subject to the post COVID-19 economic recovery. Increasing focus on the development of nuclear power resources is expected to increase the demand for zirconium in the country, which is further boosting the growth of the market in Asia Pacific.

Segments

Occurrence Types

Zircon
Zirconia
Others
- Zirconium Metal

Products

Zircon Flour/Sand
Zircon Opacifier
Refractories
Zircon Chemicals
- Zircon Oxychloride (ZrOCl2)
- Zircon Sulfate (Zr(SO4)2)
- Others
Zircon Metal

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key players

Iluka Resources Limited
Eramet
Kenmare Resources PLC
Tronox Holdings plc
Rio Tinto

Competitive Landscape

Major players of the market are Iluka Resources Limited, Rio Tinto, Tronox Holdings PLC, and Eramet.

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Zirconium Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Zirconium Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Zirconium Market - Supply Chain
  4.5. Global Zirconium Market Forecast
     4.5.1. Zirconium Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Zirconium Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Zirconium Market Absolute $ Opportunity
5. Global Zirconium Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Zirconium Market Size and Volume Forecast by Types
     5.3.1. Zircon
     5.3.2. Zirconia
     5.3.3. Others
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Zirconium Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Zirconium Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Zirconium Demand Share Forecast, 2019-2026
7. North America Zirconium Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Zirconium Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Zirconium Market Size and Volume Forecast by Types
     7.4.1. Zircon
     7.4.2. Zirconia
     7.4.3. Others
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Zirconium Demand Share Forecast, 2019-2026
8. Latin America Zirconium Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Zirconium Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Zirconium Market Size and Volume Forecast by Types
     8.4.1. Zircon
     8.4.2. Zirconia
     8.4.3. Others
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Zirconium Demand Share Forecast, 2019-2026
9. Europe Zirconium Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Zirconium Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Zirconium Market Size and Volume Forecast by Types
     9.4.1. Zircon
     9.4.2. Zirconia
     9.4.3. Others
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Zirconium Demand Share Forecast, 2019-2026
10. Asia Pacific Zirconium Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Zirconium Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Zirconium Market Size and Volume Forecast by Types
     10.4.1. Zircon
     10.4.2. Zirconia
     10.4.3. Others
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Zirconium Demand Share Forecast, 2019-2026
11. Middle East & Africa Zirconium Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Zirconium Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Zirconium Market Size and Volume Forecast by Types
     11.4.1. Zircon
     11.4.2. Zirconia
     11.4.3. Others
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Zirconium Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Zirconium Market: Market Share Analysis
  12.2. Zirconium Distributors and Customers
  12.3. Zirconium Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Iluka Resources Limited
     12.4.2. Eramet
     12.4.3. Kenmare Resources PLC
     12.4.4. Tronox Holdings plc
     12.4.5. Rio Tinto

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