Zirconium Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Zirconium Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global zirconium market size reached US$ 1.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.9 Billion by 2028, exhibiting a growth rate (CAGR) of 7.8% during 2023-2028.

Zirconium refers to a lustrous silver-grey transition metal that is commonly found in volcanic and plutonic rocks. It is commercially extracted from minerals, such as zirconium dioxide and zircon, and is found infused with silica, ilmenite and rutile. It exhibits various advantageous properties, such as high malleability and ductility, resistance to corrosion, heat, acids, alkalis and seawater, along with the ability to form stable compounds. It is commonly used in the manufacturing of pipes, plumbing fittings, heat exchangers, steel alloys, colored glazes, bricks, ceramics, abrasives, lamp filaments and artificial gemstones.

Significant growth in the nuclear power industry across the globe is one of the key factors driving the growth of the market. Zirconium is used for cladding or outer covering in fuel rods due to the properties, such as high structural strength and low neutron absorption. In line with this, widespread adoption of zirconium alloys for the manufacturing of flashbulbs, surgical instruments, explosive primers and rayon spinnerets. It is also used in the manufacturing of modern porcelain tiles, due to its ability to bind with organic and inorganic sand binders, low thermal expansion and low acidity properties. Additionally, the rising product adoption in aviation and automotive protective coatings is acting as another growth-inducing factor. Zirconium protects metallic surfaces from prolonged exposure to high temperatures, thereby making it ideal for engine components such as exhaust manifolds, cylinder heads, and pistons. Other factors, including the replacement of steel dental implants with zirconium alloys, along with extensive research and development (R&D) activities, are anticipated to drive the market further.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global zirconium market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on occurrence type, form and end use.

Breakup by Occurrence Type:

Zircon
Zirconia
Others

Breakup by Form:

Crystal
Powder

Breakup by End Use:

Ceramics
Chemicals
Foundry
Refractories
Others

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Alkane Resources Ltd., Base Resources Limited, Doral Mineral Sands Pty Ltd. (Iwatani Corporation), Eramet SA, Iluka Resources Limited, Kenmare Resources Plc, Rio Tinto Group, Saint-Gobain ZirPro, Tosoh Corporation and Tronox Holdings Plc.

Key Questions Answered in This Report
1. What was the size of the global zirconium market in 2022?
2. What is the expected growth rate of the global zirconium market during 2023-2028?
3. What are the key factors driving the global zirconium market?
4. What has been the impact of COVID-19 on the global zirconium market?
5. What is the breakup of the global zirconium market based on the occurrence type?
6. What is the breakup of the global zirconium market based on the form?
7. What is the breakup of the global zirconium market based on the end use?
8. What are the key regions in the global zirconium market?
9. Who are the key players/companies in the global zirconium market?