According to the recent study the zirconium market is projected to reach an estimated $2.7 billion by 2028 from $1.9 billion in 2023, at a CAGR of 7.2% from 2023 to 2028. Growth in this market is primarily driven by considerable use of this product in numerous components of structural machinery and equipment in the chemical sector and increasing demand for zirconium in industrial application, such as ceramic, chemical processing, nuclear power, piezoelectric crystals, and zirconium alloys.
A more than 150–page
report is developed to understand trends, opportunities and forecast in
zirconium market by occurrence type (zircon, zirconia, and others), form
(crystal and powder), end use industry (ceramics, chemicals, foundry,
refractories, and others), and region (North America, Europe, Asia Pacific, and
the Rest of the World).
“Powder market is expected to remain the largest segment during
the forecast period.”
Based on form, the
zirconium market is segmented into crystal and powder. Lucintel forecasts that
the powder market is expected to remain the largest segment due to the
substantial usage of this powered material in the production of zirconium-based
alloys, nuclear fuel rods, and various nuclear reactor components.
“Within the zirconium market, the ceramic segment is expected to
remain the largest end use industry.”
Based on end use
industry the ceramic segment is expected to witness the highest growth over the
forecast period due to the significant demand for zircon-based ceramics owing
to its high wear and corrosion resistance properties.
“Asia pacific will dominate the zirconium market in near future.”
APAC will remain the
largest region due to the expanding number of nuclear power plants, increasing
exports of ceramics, and growing demand for highly efficient paints and coating
in a variety of industrial applications in the region.
Major players of
zirconium market are adopting various growth strategies like new product
launches, expansions, merger and acquisitions, partnerships, agreements, and
collaborations to expand their presence in this market. Australian Strategic
Materials (ASM), Base Resources, Doral Mineral Sands Pty (Iwatani Corporation),
Eramet, and Iluka Resources are among the major zirconium providers.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or write us at helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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