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.

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