Demand for Ceramic Wall and Floor Tiles & Expanding Applications of Zirconium Metal, Zirconia and Zirconium-Based Chemicals Sustain Growth in the Market
Growing demand for ceramic wall and floor tiles and
expanding applications of zirconium metal, zirconia and zirconium-based
chemicals are poised to drive global Zirconium consumption to exceed 1.7 million metric tons by 2024.
Zirconium represents a hard, lustrous, greyish-white
metal obtained from its principal economic source – Zircon (ZrSiO4) or
zirconium silicate mineral. Various attributes of the metal that is driving its
steady demand over the years include excellent corrosion resistant properties,
high refractive index, high melting point, thermal stability as well as low
wettability to molten metals. Other superior attributes of zirconium over other
similar materials such as alumina include low solubility in glass; ability to
create glossy white surface that do not fade away; and impart enhanced
cleanability for polished porcelain tiles without reducing firing range and
causing any side effects during production. Majority of zirconium is consumed
in the form of zircon, zirconium oxide, or other zirconium chemicals, while the
remaining as zirconium metal and zirconium containing alloys. Besides being
used as a opacifier for creating a whitening effect in traditional ceramic
tiles as well as sanitaryware, the material is used in precision casting,
refractories, nuclear reactors, fuel cells, catalysts, fiber optics, water and
air purification, dental implants, medical prosthetics, and other myriad
industrial applications.
Healthy growth is projected for the market in the
coming years driven by increasing consumption of ceramic tiles and other
ceramics, which represent the largest end-use application for zirconium.
Zirconium based ceramics are not only capable of withstanding attack from
molten metal, organic solvents, acids as well as alkalis but also remain high
temperature resistant for longer period under severe mechanical stress. Other
factors benefiting market prospects include increasing urbanization and the
resulting demand for zirconium-based sophisticated products such as high
quality ceramic tiles, sanitary ware, table ware, and eco-friendly walls and
windows, among others; emerging application as a strong and reliable material
for dental and orthopedic implants; and steady demand
for zirconium metal, zirconia, and zirconium-based chemicals and metals in
various industries. Further, maturing long-term contracts, increasing
popularity of zircon flour, emergence of innovative applications, as well as
vertical integration in the zirconium market are some of the on-going trends in
the market. Some of the growth inhibitors include low pigment plant capacity
utilization, radiological concerns, exchange rate fluctuation as well as other
disruptions apart from threat from substitute materials, price fluctuations, and
health issues.
Production of Zirconium is highly concentrated in a
few countries, with South Africa and Australia dominating global production.
The top five countries, account for about 85% of global Zirconium production. On
the other hand, Asia and Europe dominate consumption of Zirconium, leading
significant international trade. In terms of reserves, Australia and South
Africa account for more than 80% of global known reserves. As such, the two
countries are expected to keep dominating the production of Zirconium.
As stated by the new market research report on Zirconium, China represents the largest market for Zirconium.
However, Asia-Pacific region (excluding China and Japan) is forecast to witness
the fastest growth among all regions for Zirconium, with a CAGR of 6.4% over
the analysis period, primarily driven by India. Latin America and Rest of World
regions are also forecast to register above average growth rates during the analysis
period. By end-use, Ceramics represent the largest market for Zirconium,
while Chemicals are forecast to offer the highest growth
opportunities for Zirconium. Refractories represent a substantial market for Zirconium,
but the end-use is being hampered slowdown in the steel industry, especially in
China.
Major players in the market include Alkane Resources
Ltd., Allegheny Technologies, Inc., Astron Ltd., Cristal Mining, E.I DuPont de
Nemours and Company, Erinbar Limited, Foskor Zirconia (PTY) Limited, Iluka
Resources Limited, Imerys Fused Minerals Murg GmbH, Kenmare Resources plc,
Luxfer Holdings PLC, Richards Bay Minerals, Oxkem Limited, Smartac Group China
Holdings Limited, Shandong Goldensun Zirconium Industry Co., Ltd., Tosoh
Corporation, Tronox Limited, Zhejiang Jinkun Zirconium Industry Co., Ltd, and
Zircomet Limited among others.
The research report titled "Zirconium - Market Analysis, Trends,
and Forecasts" announced by Global Industry Analysts Inc., provides a comprehensive review of market trends,
growth drivers, and strategic industry activities various players. The report
provides market estimates and projections in Metric Tons for Zirconium for all
major geographic markets including the US, Canada, Europe (France, Germany, Italy,
UK, Spain, Russia, and Rest of Europe), China, Asia-Pacific (India, and Rest of
Asia-Pacific), Latin America (Brazil, and Rest of Latin America), and Rest of
World. End-use segments analyzed Ceramics, Refractories,
Foundries, Chemicals, Others.
For enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
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