Zirconia or Zirconium dioxide market is anticipated to generate a tremendous growth owing to its increasing usage in a wide range of applications such as optical fibers, medical products, and waterproofing clothing. Additionally, China’s ceramic tile industry and its development is expected to boost the zirconium dioxide demand, owing to increasing product usage in several ceramic applications such as sanitary ware, tableware and floor and wall tiles.
Emerging markets such as China, Korea and India are expected to drive the global market as these regions have accounted humongous market potential for zirconium oxide despite of monetary fluctuations from these regions. Zirconium supply shortage along with volatility in the prices of zirconium has made a negative impacted in market growth over the last decade. However, the market is expected to improve quickly over the forecast period. Post several global cues the market has witnessed quick recovery owing to increasing industrial activities from Asia –Pacific market.
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The largest consumer of zirconium oxide globally owing to increasing demand for the mineral in foundries and ceramic is from Asia- Pacific region. Additionally, new mine reserves explorations in these regions are further expected to make a strong positive influence on the consumption of zirconium oxide across several the end-use sectors. There have been improvements in production technologies in industry owing to increasing usage in zirconium compound. A nuclear energy production target provides an increasing avenue of opportunities for zirconium dioxide market growth over the forecast period.
The global zirconium dioxide market is segmented on the basis of region. Major regions included to have a market overview include North America, Europe, Asia Pacific and rest of the world. From North American region the U.S. has accounted the largest producer and consumer of zirconium dioxide in 2014. The U.S. is immediately followed by Japan, which has accounted second largest consumer and producer of zirconium dioxide.
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The market trend is likely to continue, owing to increasing building and construction activities from these regions. Zirconia nanoparticles (nano-ZrO2) market is expected to develop over the next couple of years owing to its surging demand in niche markets such as electronic displays, thermal barriers, solid oxide fuel cells, medical and dental implants, and wear-resistant coatings.
Key industry players in zirconium dioxide industry include Saint-Gobain, E.I DuPont de Nemours and Company, Astron Advanced Materials, Alkane Resources, Astron, Allegheny Technologies, Australian Zircon NL, Exxaro Resources Ltd, Astron Advanced Materials, Bemax Resources Limited, Rio Tinto Plc, Luxfer Group, Foskor Ltd., Namakwa Sands Ltd., Iluka Resources Limited, Richards Bay Minerals, Neo Material Technologies Inc., and Wah Chang.
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