According to Future Market Insights’ most recent market study, the global market for zirconium dioxide is expected to reach US$ 81.9 million in 2023 and grow at a CAGR of 5.3% between 2023 and 2033. By the end of the projected period, the market is anticipated to reach a worth of US$ 136.5 million.
Distinct from other ceramic materials, zirconium dioxide is a dynamic material used in the manufacturing of many domestic and industrial products. Zirconium dioxide, which is also known as zirconia is expected to find potential market opportunities for its varied range of applications over the forecast period.
The recent technological developments have accelerated the demand for zirconium dioxide, which in turn helped gain lucrative market share by advanced materials companies and multi-national chemical companies in terms of production of nanoparticles of zirconium dioxide.
Thus, the zirconium dioxide market is expected to develop significantly in the near future owing to the increased production of nano particles.
The increase in demand for high-quality zirconium dioxide in the field of medical, electronic, steel and so on are expected to bolster the market growth considerably over the forecast period. The zirconium dioxide is expected to be a popular ceramic in the upcoming decade owing to its increasing application in numerous industries around the world.
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Zirconium Dioxide Market: Drivers and Restraints
Zirconium dioxide is available in plenty from nature and it contains no toxic elements, which makes it easy to discharge the waste back into the nature. Thus, zirconium dioxide is one of the extensively used ceramic materials ranging its applications from dental, such as bridges and crowns, to paints and lacquers and so on.
An outstanding compatibility has been identified between zirconium dioxides with the connective tissues in the human body, which makes it prevalent in surgery practices for joint implants that drives the zirconium dioxide market.
Another attractive factor about zirconium dioxide is its use in jewelry as a diamond imitation, which is expected to boost zirconium dioxide market in making artificial jewelry over the forecast period.
The market for zirconium dioxide is expected to grow substantially on industrial level owing to its high temperature and mechanical properties, thermal, chemical and oxidation resistance that has resulted in attracting business houses and scientists in the manufacturing of engineering products on a large and diverse scale that include nuclear fuels, seals, valves, wear parts, bearings, tiles and nose cones for space shuttle and missiles, coating for turbines, aviation engines, diesel engines and many more.
However, the significant price of the products using zirconium dioxide becomes a hurdle as the same products made using alumina ceramic are available in lower prices.
Zirconium Dioxide Market: Region wise Outlook
Based on the geography, the zirconium dioxide market is expected to be dominated by the U.S., owing to the noteworthy production and consumption of zirconium dioxide in the country, over the forecast period. The U.S. is expected to be followed by Japan for its production of zirconium dioxide nano-particles.
The developing countries such as India, Korea and China are rich in availability of zirconium dioxide that will create strong opportunities for zirconium dioxide market along with the wide scope of innovative technologies in the production of electronic displays, wear-resistant coating, thermal barrier and many others.
Zirconium Dioxide Market: Market Participants
Some of the examples of market participants in the global zirconium dioxide market are listed below:
- 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
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
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Market Segmentation
By Product Type:
- Partially Stabilized
- Fully Stabilized
- Zirconia Toughened Alumina
- Transformation Toughened Zirconia/Ceramic
By Manufacturing Process:
- Alkaline Process
- Fused Process
- Chlorination Process
By Application:
- Dental
- Automobiles
- Industrial Catalyst
- Electronic
- Paints
- Antifriction Material
- Fuel Cells
- Aviation Engine
- Jewelry
- Bio Ceramics
- Ceramics
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