The global zirconium market is recovering from the decline it faced over the last decade. By the end of 2016, the market had indicated a slow but steady growth as the demand is set to stabilize in the future.

The global market for zirconium is analyzed on the basis of its geographical distribution. North America, Europe, Asia Pacific, and the Rest of the World are the key regional markets for zirconium.

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The research report provides a comparative analysis of the global zirconium market, including qualitative as well as quantitative evaluation of each segment of this market. The market study also evaluates the market dynamics and prevalent trends such as the growth drivers, limitations, and prospects influencing the current performance and the future status of this industry.

Overview of the global zirconium market

The performance of the global zirconium market is dependent upon the movement in the ceramic industry, as zirconium derives most of its demand from the global ceramics market. The foundry, refractory, and electronics industries are the other major consumers of zirconium.

Zirconium is a strong, malleable, and ductile metal that possesses extreme resistance to heat and corrosion. This silver-grey metal is derived from mineral zircon sand. Its resistance to absorption of neutrons makes it useful for cladding of nuclear fuel.

In terms of demand, the zirconium market in Asia Pacific led the global zirconium market in 2012. Demand from this region is expected to rise on account of the rising demand from end-use industries such as medical and healthcare, ceramics, and construction. Asian economies such as Japan, China, India, and South Korea are expected to be the major consumers of zirconium during the forecast period.

The zirconium market in North America stood second in 2012. The market in the U.S. is the leading consumer of zirconium in North America, due to rising demand from the nuclear energy and ceramics industries.

The market in Europe held the third position in the global zirconium market. Economies such as Turkey, Spain, and Italy are the key consumers of zirconium in Europe.

Lastly, the market for zirconium in the Rest of the World is expected to exhibit significant potential for growth in the coming years. South Africa dominates the zirconium market in the Rest of the World segment.

Overall, the global zirconium market is set to exhibit steady growth in the future, but the high price of zirconium and the health issues associated with it are expected to create major hindrances for the development of this market.

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