Zirconium Market

Zirconium Market Outlook (2023 to 2033)

The global zirconium market stands at US$ 1.9 billion in 2023 and is projected to reach US$ 4.1 billion by the end of 2033, expanding at a CAGR of 7.9% over the next ten years.

Zirconium refers to a silver-grey transition metal found in plutonic and volcanic rocks. It is commercially extracted from different minerals, including zircon and zirconium dioxide. Further, it can be found infused with rutile, silica, and ilmenite.

Zirconium comes with advantageous properties, including high malleability and ductility, the ability to form stable compounds, and resistance to seawater, corrosion, alkalis, acids, and heat. Moreover, it is commonly utilized in the manufacturing of artificial gemstones, lamp filaments, abrasives, ceramics, bricks, colored glazes, steel alloys, heat exchangers, plumbing fittings, and pipes.

Noticeable growth in the nuclear power industry is anticipated to generate lucrative opportunities in the target market over the coming 10 years. Zirconium is utilized for outer covering and cladding in fuel rods in nuclear reactors owing to its properties, including low neutron absorption and high structural strength.

In recent years, zirconium alloys have been adopted extensively to manufacture flashbulbs, rayon spinnerets, explosive primers, and surgical equipment. Moreover, it is utilized in the manufacturing of different modern porcelain tiles, because of its ability to bind with inorganic and organic sand binders, lower acidic nature, and low thermal expansion.

Growing adoption of zirconium in automotive and aviation protective coatings is serving as a noticeable growth driver in the target market. Zirconium is also used to protect metallic surfaces from any sort of prolonged exposure to high temperatures. Thus, these features make it ideal for usage in engine components, including pistons, cylinder heads, and exhaust manifolds.

Zirconium has been used as an ideal substitute for steel dental implants in recent years. Zirconia contains flexible strength, which is between 800 and 1000 MPA. It has better strength compared to other ceramics, which are used for dental applications. In addition, extensive R&D activities related to zirconium application are projected to generate novel growth opportunities in the market between 2023 and 2033.

Zirconia comes with various mechanical properties among different ceramic materials, which are utilized in the healthcare industry. Further, noticeable development and improvements in zirconia-based ceramic along with various controlled procedures are anticipated to boost novel opportunities over the coming years.

Report Attributes	Details
Zirconium Market Size in 2023	US$ 1.9 Billion
Projected Market Value (2033)	US$ 4.1 Billion
Estimated Market Growth Rate (2023 to 2033)	7.9% CAGR
Canada Market Growth Rate (2023 to 2033)	3.5% CAGR
Germany Market Growth Rate (2023 to 2033)	3.5% CAGR
Key Companies Profiled	Compagnie de Saint-Gobain S.A. Glidewell Laboratories Imperial Metal Industries Limited Japan New Metals Co., Ltd. Alkane Resources Ltd. DuraTech Industries Alliance Design and Development Group, Inc. KCM Corporation

Why is Demand for Zirconium Increasing at a Fast Pace?

“Expanding Chemical Sector Driving Lucrative Market Opportunities”

Noticeable growth in the chemical industry, which uses zirconium for multiple applications, is expected to create lucrative opportunities for market players. Further, zirconium alloys find applications in different equipment in the chemical industry, including valves, boilers, tanks, pumps, pressure vessels, and many other components where they create corrosion resistance to different equipment against salt solutions, inorganic and organic acids, and some molten salts.

Zirconium finds application as a catalyst in different chemical procedures in the chemical sector. Thus, significant growth in the chemical industry is further expected to propel the demand for zirconium and zirconium alloys.

For instance,

• India Brand Equity Foundation provided a report, which mentioned that small and medium enterprises from the domestic chemical industry exhibited 18%–23% revenue growth in 2022.
• According to a report by Mid-Year US Chemical Industry Outlook in June 2021, chemical volumes in the United States market expanded by 3.3%.

Thus, massive expansion of the chemical industry around the world is estimated to propel the demand for zirconium, which will further contribute to the growth of the target market.

“Booming Ceramics Industry Stimulating Demand for Zirconium”

In recent years, the ceramics industry has been using zirconium at a significant rate for manufacturing different products ranging from glazes and enamels to tiles. The rising production and use of ceramics around the world are predicted to boost the demand for zirconium.

For instance,

• The Trade Promotion Council of India provided data about exports of ceramic products, which reached a value of US$ 1.8 billion in the year 2019.

What is a Major Challenge Faced by Suppliers of Zirconium?

“Stringent Regulations on Zirconium Usage”

Certain stringent regulations are implemented by respective governing bodies on the use of zirconium. Further, its use can cause some health issues to its respective users, which can limit its adoption throughout the forecast period.

Exposure to zirconium can result in lung and eye irritation and sometimes can cause allergic skin reactions. The respective governing bodies, across the globe, are constantly monitoring the appropriate use of zirconium and its adverse impact on human health.

For instance,

• The Occupational Safety and Health Administration (OSHA) set the zirconium exposure limit at 5 mg/m3 in the year 2021.

Such stringent regulations related to the application of zirconium can adversely impact market opportunities for players.

How Opportunist is the Zirconium Industry for New Entrants?

“Innovation of Cost-effective Solutions Will Generate Lucrative Opportunities”

The global market possesses opportunities for startups and small manufacturers to come up with new cost-effective solutions in the manufacturing of different products. Numerous innovative start-ups, which are growing at a significant speed are profiled in the recently published research report by Fact.MR, a provider of market research and competitive intelligence.

Various developments and innovative techniques are being incorporated by startups. The growing demand for various products using zirconium from respective end users can stimulate startups to launch innovative products in the target market over the coming 10 years.

Which Factor is Contributing to Rising Sales of Zirconium across Asia Pacific?

“Significant Growth of Ceramic Industry Fueling Demand for Zirconium”

• Asia Pacific is estimated to hold 32.5% share of the global market revenue by the end of 2033.

Rising demand for zirconium in Asia Pacific is attributed to the growing ceramic industry across the region. In addition, it is also used to produce multiple ceramic products, ranging from frits and pigment to tiles.

The Asia Pacific region is a leading producer of ceramics across the globe.

For instance,

• China is the key producer of ceramic tiles in the Asia Pacific region, according to data provided by the Trade Promotion Council of India (TPCI).

Noticeable growth in the ceramic industry is predicted to contribute to the rising demand for zirconium over the decade.

For instance,

• In June 2021, India Brand Equity Foundation provided some data. According to this data, the ceramic products and glassware sector advanced at a CAGR of 20% through May 2021.
• According to data provided by Iluka Resources, in its Half Year Results in 2021, the production of ceramic tiles returned to its pre-pandemic levels across China.

Thus, rising production of ceramic across the region is forecasted to generate huge demand for zirconium in the region.

Country-wise Insights

Why are Sales of Zirconium Increasing in Japan?

“Increasing Use of Zirconium in Glassware and Ceramics”

Sales of zirconium in Japan are anticipated to expand at a CAGR of 2.4% over the forecast period from 2023 to 2033. The demand for zirconium is attributed to its growing use in glassware and ceramics.

Which Factors are Expected to Generate High Demand for Zirconium in the United States?

“Growing Demand for Ceramics Driving Usage of Zirconium”

The United States market is estimated to expand at a noteworthy speed over the coming years. The growth is attributed to the growing demand for ceramics, which is estimated to stimulate the utilization of zirconium.

• Sales of zirconium in Canada are forecasted to progress at a CAGR of 3.5% through 2033.

Which Factor is Stimulating Demand for Zirconium in Germany?

“Significant Growth of Ceramics Industry in the Country”

In recent years, the ceramic industry has been growing at a noticeable speed in Germany, which will stimulate the demand for zirconium for various applications.

• Ceramica.info is the official online source of the Italian ceramic industry. As per its published report, demand for ceramic tiles in Germany is expected to increase by 10.9% in the years ahead.
• Demand for zirconium in Germany is projected to advance at a CAGR of 3.5% from 2023 to 2033.

Category-wise Insights

Which is the Most Widely Used Type of Zirconium Globally?

“Demand for Zircon Expanding at Substantial Rate”

Based on occurrence type, the global industry is divided into zircon, zirconia, and others.

Consumption of zircon is estimated to increase at a CAGR of 8.6% from 2023 to 2033.

Some special suites of physical properties can convert them into suitable solutions for application in vast arrays. The ceramic industry is one of the key markets that use zircon as a significant whitener for the surface and body of ceramic due to its increased refractive index.

• According to Zircon Industry Association, around 55% of the total produced zircon is used in the ceramic industry annually.

Besides ceramics, zircon is used in some other end-use industries, including refractory and foundry industries. Some prominent companies manufacturing zircon are involved in various R&D activities to expand their product portfolios.

For instance,

• A journal published by The American Institute of Physics (AIP) in September 2020, discusses the synthesis of zircon solid ceramic using the technique of arch plasma sintering (APS).

Which End-use Industry is Predicted to Account for High Revenue Generation?

“Increasing Use of Zirconium in Manufacturing Ceramics”

Ceramics, chemicals, foundry, refractories, and others are some key end-use industries, which are contributing to the rising demand for zirconium across the globe. Among these, the ceramic industry is predicted to hold a noteworthy share of global revenue.

• Demand for zirconium in the ceramics industry is expected to advance at a CAGR of 9.2% through 2033.

Ceramics, zirconium alloys, and piezoelectric crystals are some key industrial applications, which require zirconium. In addition, it is also used in ceramic enamels, frits, tiles, glazes, and various other applications. Further, the requirement for ceramic is stimulating because of the rising demand for premium and stylish ceramic products.

For instance,

• Confindustria Ceramica is an Italian ceramics association, which provides data related to the ceramics markets. According to its research, the turnover of the market increased by 9% in 2021 compared to 2020.
• The Tile Council of North America mentioned that the use of ceramic tiles surged by 18% by volume in 2021.

Competitive Landscape

Prominent supplier companies of zirconium are spending on strengthening their supply chain management systems to attract substantial consumers. They ensure the delivery of quality products, which are produced while maintaining standards set for quality control. Manufacturers of zirconium also work efficiently to minimize the environmental impact to attain the goal of a sustainable environment.

Key providers of zirconium are involved in mergers & acquisitions to expand their footprints in the global market.

For instance,

• In December 2019, Lomon Billions acquired shares of China National Nuclear Corporation in Orient Zirconic. The acquisition will help Lomon Billions for strengthening its position in the zirconium business around the world.

Companies manufacturing zirconium include Compagnie de Saint-Gobain S.A., Glidewell Laboratories, Imperial Metal Industries Limited, Japan New Metals Co., Ltd., Alkane Resources Ltd., DuraTech Industries, Alliance Design and Development Group, Inc., and KCM Corporation.

Segmentation of Zirconium Industry Research

• By Occurrence Type :

  • Zircon
  • Zirconia
  • Others

• By Form :

  • Crystals
  • Powders
  • Others

• By End Use :

  • Ceramics
  • Chemicals
  • Foundries
  • Refractories
  • Others

• By Region :

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa