Published on: May 2022
Sweeping versatility and knocking off the single use nature
Due to its increasing use in a variety of applications such as medical devices, optical fibres, and waterproofing apparel, the worldwide zirconium oxide market is predicted to rise at a rapid pace. Furthermore, as the product is utilised as an opacifier in ceramic applications such as sanitary ware, floor and wall tiles, and tableware, the growth of China's ceramic tile industry is expected to boost zirconium oxide demand. The biggest growing markets for zirconium oxide are developing countries like India, Korea, and China. However, during 2008 and 2009, the global industrial sector flattened, which had a detrimental impact on the zirconium market.
What has affected the market growth of Zirconium Oxide
Volatility in zirconium pricing, along with a supply deficit, has had a negative impact on market growth in recent years. Nonetheless, the market is expected to quickly improve and grow strongly in the coming years. Due to a strong increase in demand for the material in ceramics and foundries, the Asia Pacific area was the world's largest consumer of zirconium oxide. Furthermore, the exploration of new mine reserves is projected to have an impact on zirconium oxide consumption across all end-use industries. Growing demand for zirconia has necessitated changes in the industry's production technologies. In the foreseeable years, zirconium oxide market expansion would be aided by production geared toward nuclear energy.
An overview of the key players in the market for Zirconium Oxide
In 2013, the United States was the leading consumer and producer of zirconium oxide, followed by Japan, and this trend is likely to continue during the forecast period. Due to increased utilisation in niche sectors such as thermal barriers, electronic displays, medical and dental implants, solid oxide fuel cells, and wear-resistant coatings, the zirconia nanoparticles (nano-ZrO2) market is expected to grow significantly in the coming years. Saint-Gobain, a French business that is one of the main producers in the worldwide zirconium oxide market, is a key player in the zirconium oxide industry. Alkane Resources, E.I. DuPont de Nemours and Company, Allegheny Technologies, Bemax Resources Limited, Astron Advanced Materials, Astron, Australian Zircon NL, Iluka Resources Limited, Astron Advanced Materials, Neo Material Technologies Inc, Exxaro Resources Ltd, Foskor Ltd, Luxfer Group, Richards Bay Minerals, Rio Tinto Plc, Namakwa Sands Ltd,, and Wah Chang are among the other subsequent players.
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