According to the latest market survey conducted by Future Market Insights, the global zirconium dioxide market is relishing a market valuation of US$ 81.9 Million in 2023 and is all set to expand with a CAGR of 5.3% during the 2023 to 2033 period. The market is anticipated to top a valuation of US$ 136.5 million by the end of the forecast period.
| Attributes | Details |
|---|---|
| Market Size 2023 | US$ 81.9 Million |
| Market Size 2033 | US$ 136.5 Million |
| Value CAGR (2023 to 2033) | 5.3% |
| Collective Value Share: Top 3 Countries (2023E) | 45% - 55% |
Zirconium dioxide, also known as Zirconia (Zr02), occurs in its most natural form in the mineral baddeleyite. But it can also be chemically extracted from zircon. It is the most commercially valuable oxide formed from zircon.
Zirconium dioxide products have the characteristics of good mechanical properties and high-temperature stability, chemical inertness and stable quality, strong heat resistance, and corrosion resistance. This makes them ideal for use in a variety of refractory products, ceramic pigments and pigments, and electronic applications. Other applications include welding rods, friction materials, and zirconium metals and alloys.
The excellent biocompatibility of advanced zirconium dioxide ceramics has ensured that zirconium dioxide has replaced alumina as the material for prosthetic devices such as hip or femoral heads. It has higher strength and hardness, wear resistance, stability, scratch resistance, and biocompatibility with the human body. One of the other most common uses of zirconium dioxide is in dental implants.
Cubic zirconium dioxide is one of the best-known forms of zirconium dioxide, which is often referred to as a synthetic diamond. It has become a popular gemstone due to its optically clear single crystal and high index of refraction, as well as its ability to retain its color and brilliance.
Unlike other ceramic materials, zirconium dioxide is a dynamic material used in the manufacture of many household and industrial products. Zirconium dioxide is expected to find impending market opportunities for its various applications during the forecast period.
Over the period of time covered by the study (2018 to 2022), zirconium dioxide is witnessed great interest from researchers and professionals of various disciplines for various high-value applications. The market for zirconium dioxide was recorded to grow at a phenomenal CAGR of 4.2% between 2018 and 2022, mostly due to the rising demand for zirconium dioxide in the refractory, foundry, automotive, and chemical industries.
Whereas, as per the latest survey conducted by FMI, the zirconium dioxide market is expected to progress at a CAGR of 5.3% between 2023 and 2033. Recent technological developments have accelerated the demand for zirconia, which in turn has helped advanced materials companies and multinational chemical companies gain lucrative market shares in the production of zirconium dioxide nanoparticles. Hence, the zirconium dioxide market is expected to witness significant growth in the near future owing to the increasing production of nanoparticles.
Increasing demand for high-quality zirconium dioxide in the fields of medical, electronics, and steel is expected to significantly drive market growth over the forecast period. Zirconium dioxide is expected to become a popular ceramic during the next decade due to its increasing application in various industries across the globe.
Zirconium Dioxide is proven to be beneficial for the automotive industry
Increasing demand for zirconium dioxide to produce protective coatings for the automotive industry is a factor expected to drive the growth of the target market over the forecast period. Zirconium dioxide provides excellent protection for metal surfaces when they are exposed to high temperatures for extended periods of time. Therefore, it is an ideal protective coating material for the production of different components such as exhaust manifolds, pistons, and cylinder heads. This helps in increasing its popularity across the industry and ultimately contributes to the overall growth of the market. Moreover, rising consumer preference for more attractive and aesthetically pleasing designs along with the desire to prolong the lifespan of vehicles has played a vital role in the growing popularity of the zirconium dioxide market.
Growing Applications of Zirconium Dioxide in the Ceramic Industry
The growing ceramics industry is significantly driving the industry growth. Zirconium dioxide provides excellent strength to ceramic materials. Due to the high chemical inertness of zirconium dioxide, ceramics can withstand the attack of various acids, alkalis, and organic solvents, making them ideal for the production of various forms of ceramics, including advanced ceramics, decorative ceramics, and conductive ceramics.
Zirconium dioxide is abundant in nature and does not contain toxic elements, so it is easy to discharge waste back into nature. Therefore, zirconium dioxide is one of the most widely used ceramic materials, with applications ranging from dental, such as bridges and crowns, to paints and varnishes, among others.
Excellent compatibility between zirconium dioxide and human connective tissue has been established, making it ubiquitous in joint implant surgical practices and driving the growth of the zirconium dioxide market. Another attractive factor of zirconium dioxide is its use in jewelry as a diamond simulant, which is expected to drive the zirconium dioxide market in manufacturing costume jewelry during the forecast period.
The zirconium dioxide market is expected to witness substantial growth on an industrial level owing to the high temperature and mechanical properties, heat resistance, chemical resistance, and oxidation resistance of zirconium dioxide, which leads to attracting businesses and scientists to manufacture engineered products on a large scale and diversification, Includes nuclear fuel, seals, valves, wear parts, bearings, tiles, and nose cones for space shuttles, and missiles, coatings for turbines, aero engines, diesel engines, and more.
North America is expected to witness moderate growth in the market. This is driven by new product innovations catering to the specific needs of end-use industries, which is expected to positively impact the demand for zirconium dioxide in the region. Zirconia nanoparticles (nano-ZrO2) are widely used in niche applications such as medical and dental implants, thermal barriers, solid oxide fuel cells, electronic displays, and wear-resistant coatings.
The Asia Pacific region is expected to witness significant growth owing to rapid growth in the ceramic and foundry industries driven by rapid industrialization in the emerging economies of the region. Abundant zirconium dioxide resources in developing countries such as India, South Korea, and China will create strong opportunities for the zirconium dioxide market and a wide range of innovative technologies in the production of electronic displays, wear-resistant coatings, thermal barriers, etc.
The region has also witnessed significant growth in ceramics and foundries for the production of turbine blades for the aerospace industry. This is also expected to drive the growth of the zirconium dioxide market in Asia Pacific. Apart from this, the booming construction industry in the region is expected to augment the demand for designer and modular tiles, which will eventually drive the growth of the zirconium dioxide market.
Key players in the zirconium dioxide market are concentrating on intensifying their capabilities and resources to meet the rising demand for zirconium dioxide in various applications. In addition, well-known players are using strategies such as mergers, acquisitions, collaborations, partnerships, joint ventures, etc. to expand their influence and resources. Several major players have also launched new products to meet the growing demand for new products in various end industries.
Various findings and assessments presented in the study help to identify lucrative opportunities and new areas in key and emerging regions. The study takes a closer look at the developments in the manufacturing industry and the important trends supporting new applications.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.3% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion, Volume in Tons, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product Type, Manufacturing Process, Application, End Use, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia Pacific; Middle East and Africa (MEA) |
| Key Countries Covered | The USA, Canada, Mexico, Brazil, Germany, The UK, France, Italy, Spain, Russia, BENELUX, China, Japan, South Korea, India, Association of Southeast Asian Nations, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, South Africa |
| Key Companies Profiled | ZIRCOMET LIMITED; Iluka Resource Limited; Kenmare Resources plc; Tronox Limited; CRISTAL; Saint-Gobain ZirPro; Luxfer Holdings PLC; Raj Purohit Group of Enterprises; American Elements; H.C. Starck GmbH; CeramTec; E.I DuPont de Nemours and Company; Allegheny Technologies Incorporated; Astron Corporation Limited; Foskor Zirconia (Pty) Ltd.; Reade International Corp.; Tosoh Corporation; Zhengzhou Zhenzhong Fused Zirconia Co., Ltd.; Zircoa, Inc.; DAIICHI KIGENSO KAGAKU KOGYO CO., LTD.; Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd.; Showa Denko Ceramics Co., Ltd.; Jiangxi Kingan Hi-Tech Co., Ltd.; Yixing Xinxing Zirconium Company Limited; Zibo Guangcheng Chemical Co., Ltd.; Other Key Players |
| Customization & Pricing | Available upon Request |
In 2023, the value of the global zirconium dioxide market reached over US$ 81.9 Million
During the forecast period, the global zirconium dioxide market is estimated to expand at a CAGR of 5.3% from 2023 to 2033.
The global zirconium dioxide market is projected to reach US$ 136.5 Million by the end of 2033.
The key players operating in the zirconium dioxide market are ZIRCOMET LIMITED, Iluka Resource Limited, Kenmare Resources plc, Tronox Limited, CRISTAL, Saint-Gobain ZirPro, Luxfer Holdings PLC, Raj Purohit Group of Enterprises, American Elements, H.C. Starck GmbH, CeramTec, E.I DuPont de Nemours and Company, Allegheny Technologies Incorporated, Astron Corporation Limited, Foskor Zirconia (Pty) Ltd., Reade International Corp., Tosoh Corporation, Zhengzhou Zhenzhong Fused Zirconia Co., Ltd., Zirco
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Zirconium Dioxide Market
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