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Global Zirconium Market Segmented by Occurrence Type, Application Growth, Trends and Forecasts 2018 2023 [Report Updated: 08022018] Prices from USD $4250

08:24 EDT 12 Jul 2018 | BioPortfolio Reports

The global zirconium market is expected to grow at a CAGR of approximately 6.21% during the forecast period, 20182023. The major factor driving the market growth is the growing usage of zirconium in foundries and refractories. Furthermore, a strong growth in the global automobile production and mechanical engineering industries is stimulating the demand for cast parts, which in turn, accelerating the growth of zirconium market.


Intensive Properties Driving the Market


Due to the low acidity, high chemical resistance, high bonding capacity, and low thermal expansion coefficient of zirconium, it is being extensively used in the foundries and refractories as molding base material for sand casting and investment casting. The accelerating usage of zirconium and its promoters in surface coatings to improve the adhesion, heat and water/solvent resistance properties and as a keying agent between the body of coating and the substrate is also likely to drive the zirconium market.


Ceramics the Largest Application Type


The market can be segmented by application into refractories, ceramics, zircon chemicals, foundry sand, and others such as radio tubes and detonation caps, with zircon based ceramics being the major application. In 2017, approximately 50% of the total zirconium consumption by volume was contributed by the ceramics application segment. The chemicals segment is estimated to have the highest growth rate, owing to growing application of zirconium as catalytic converters for automotive and industrial exhaust systems.


China dominating the Zirconium Market


China has the largest market, accounting to almost 50% market share for zirconium globally. The consumption of zirconium will be driven by the nuclear power station in China. China consumes large amount of zirconium silicate. As per production, Australia is the largest producer of zirconium across the globe.


Key Developments in the Market


December 2017: Iluka Resources Limited approved the development of Cataby mineral sands deposit in Western Australia. It is expected to produce around 50 kilo tons per annum of zircon.

The key players are ILUKA RESOUCES INC., RIO TINTO, TRONOX, KENMARE AND CRSYTAL MINING AUSTRALIA LTD and other prominent players are MZI RESOURCES LTD., DORAL MINERAL SANDS PTY. LTD., LANKA MINERAL SANDS LTD., OREGON RESOURCES CORPORATION, INDSTRIAS NUCLEARES DO BRASIL S.A.


Reasons to Purchase this Report


Market definition, along with the identification of factors instrumental in changing the market scenario and prospective opportunities

Various market perspectives, with the help of Porter's five forces analysis

Regions or countries that are expected to witness the fastest growth during the forecast period

Information about the product segment and application segment which is going to dominate the market over the forecast period

The latest developments, market shares, and strategies that are employed by the major market players

3 months analyst support along with the Market Estimation sheet in excel.


Customization of the Report


This report can be customized to meet your requirements.

Original Article: Global Zirconium Market Segmented by Occurrence Type, Application Growth, Trends and Forecasts 2018 2023 [Report Updated: 08022018] Prices from USD $4250

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