The global zirconium market reached a value of US$1.66 billion in 2021. Looking ahead, IMARC Group expects the market to reach US$2.65 billion by 2027, with a CAGR of 8.4% during the period 2022-2027.
Zirconium is a lustrous silver-gray transition metal commonly found in volcanic and plutonic rocks. It is commercially mined from minerals, such as zirconium dioxide and zircon, and is infused with silica, ilmenite and rutile. Zirconium is highly ductile, malleable and resistant to corrosion, heat, acids, alkalis and sea water. As a result, it is widely used to make pipes, plumbing fittings, heat exchangers heat, steel alloys, colored glazes, bricks, ceramics, abrasives, lamp filaments and artificial gemstones.
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Zirconium Market Trends:
The zirconium market is mainly driven by the significant growth of the nuclear energy industry around the world. Due to its high structural strength and low neutron absorption properties, zirconium is widely used for the cladding or outer coating of fuel rods in nuclear power plants. Additionally, the widespread adoption of zirconium alloys for manufacturing flash bulbs, surgical instruments, and explosive primers is further propelling the market. It is also used to produce modern porcelain tiles due to its strong bonding ability, low thermal expansion and reduced acidity. Additionally, zirconium protects metal surfaces from prolonged exposure to high temperatures, making it ideal for manufacturing engine components. Other factors, such as the replacement of steel dental implants with zirconium alloys, along with extensive R&D activities, are further expected to boost the global zirconium market in the coming years.
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2022-2027 Global Zirconium Market Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the major players operating in the market.
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.
The report has segmented the market based on region, type of occurrence, form, and end use.
Breakdown by type of occurrence:
Breakdown by form:
Breakdown by end use:
- Chemical products
Breakdown 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
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