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Global Zirconium Market Research Report:
The latest report by IMARC, titled “ Zirconium Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” the global zirconium market size reached US$ 1.8 Billion in 2022. Zirconium is a lustrous, silver-grey transition metal found in volcanic and plutonic rocks. It can be commercially extracted from zircon (zircon silicate) and zirconium dioxide that is naturally present in the mineral baddeleyite, also known as zirconia. Zirconium exhibits high ductility and malleability, chemical inertness, strong resistance to heat,corrosion,acids,alkalis,andseawater,andtheabilitytocreatestablecompounds.
These advantageous properties make it an ideal material for several industrial purposes, such as manufacturing pipes, plumbing fittings, heat exchangers, colored glazes, bricks, ceramics, tiles, frits, enamels, abrasives, lamp filaments, and artificial gemstones. Apart from this, it finds numerous applications in chemical processing, nuclear power, piezoelectric crystals, and steel and zirconium alloys.
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The increasing use of zirconium across the bolstering nuclear power industry for cladding or outer covering in fuel rods due to its high structural strength and low neutron absorption is primarily driving the market growth. Besides this, the rising product utilization in boilers, tanks, pressure vessels, pumps, and valves across the chemical sector to provide resistance against corrosion from organic acids, mineral acids, salt solutions, and strong alkalis is aiding in market expansion. Moreover, the large-scale product adoption for manufacturing flashbulbs, surgical instruments, explosive primers, precision tools, gemstones, glass, ceramics, and rayon spinnerets is contributing to the market growth. Concurrent with this, zirconium is extensively employed in producing modern porcelain tiles, as they can bind organic and inorganic sand binders and possess low thermal expansion and acidity properties, which is creating a positive outlook for the market.
In addition to this, the escalating demand from the aviation and automotive sectors for manufacturing protective coatings for engine components, such as exhaust manifolds, pistons, and cylinder heads, and protecting their metallic surfaces from prolonged exposure to high temperatures are presenting remunerative growth opportunities for the market. Furthermore, expanding prosthetic applications of zirconium alloys, such as fixation of partial dentures and fabrication of crowns with computer-aided design (CAD)/ computer-aided manufacturing (CAM) techniques in dentistry, is impelling the market growth. Looking forward, the market value is projected to reach US$ 2.9 Billion by 2028, expanding at a CAGR of 7.8% during 2023-2028.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
Market Summary:
Breakup by Occurrence Type:
•Zircon
•Zirconia
•Others
Breakup by Form:
•Crystal
•Powder
Breakup by End Use:
•Ceramics
•Chemicals
•Foundry
•Refractories
•Others
Breakup by Region:
•NorthAmerica
•UnitedStates
•Canada
•AsiaPacific
•China
•Japan
•India
•SouthKorea
•Australia
•Indonesia
•Others
•Europe
•Germany
•France
•UnitedKingdom
•Italy
•Spain
•Russia
•Others
•LatinAmerica
•MiddleEastandAfrica
Competitive Landscape with Key Players:
BaseResourcesLimited
DoralMineralSandsPtyLtd.(IwataniCorporation)
ErametSA
IlukaResourcesLimited
KenmareResourcesPlc
RioTintoGroup
Saint-GobainZirPro
TosohCorporation
• TronoxHoldingsPlc View
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