Zirconium Market is Expected to Reach US$ 2.9 Billion by 2028

IMARC Group, a leading market research company, has recently releases report titled “Zirconium Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global zirconium market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the zirconium market?

What is zirconium?

Green coatings are environmentally friendly coatings that are produced using naturally sourced materials such as vegetable oil, castor oil, soybean, milk, and clay. These coatings have extremely low or negligible emissions of volatile organic compounds (VOCs) during the manufacturing process. They are available in various forms, including water-based paints, high-solid paints, powder coatings, and radiation-hardened coatings. In addition, they are designed to minimize the harmful effects of infrared and ultraviolet (UV) radiation and help to improve equipment efficiency, resistance to fire, non-toxic and cost-effective. As a result, green coatings are widely adopted in automotive, oil and gas, aviation, marine, construction, and aerospace sectors across the globe.

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What are the growth prospects and trends in the zirconium industry?

The market is primarily driven by the expanding construction industry. In addition, green coatings are essential in preventing and enhancing surfaces such as walls, roofs, panels, windows, door frames, and interior extrusions, thus contributing to market growth. In line with this, the escalating demand for waterborne and powder-based coatings in architectural and automotive applications is influencing market growth. Moreover, the widespread adoption of green coatings in several consumer goods such as dryer drums, oven components, rooftop heating ventilation, air conditioning (HVAC) units, electronic boxes, furniture, and fixtures represents another major growth-inducing factor. Besides this, the growing advancements and development in coating technology and the escalating demand from several end-user industries are accelerating market growth. Along with this, the growing environmental awareness among individuals, and ongoing product innovations, including the development of radiation-curable coatings derived from plant-based sources and processed using low-energy electron (EB) or ultraviolet (UV) radiation, are propelling the market growth. Apart from this, the green coatings market is growing at different rates in numerous regions, with North America being the largest market due to rapid industrialization, growing population, and expanding building and construction activities across the region. Moreover, the industry is expected to face competition in the upcoming years as numerous key players are implementing competitive strategies to sustain their presence in the market.

For instance, in June 2022, PPG Industries launched its latest product PPG ENVIROCRON LUM coating, which is the first commercial retroreflective powder coating specifically designed to enhance visibility in low-light and nighttime environments, which is available in numerous colors and provide exceptional durability against abrasion and chipping and offer effective protection against corrosion. In addition, in May 2022, Allenex announced the company’s participation in India 2022, held at the JIO world convention center in India. Allenex is planning to bring a broad portfolio of green coating technologies and several innovative developments for customers across various industries such as metal, transportation, wood, and automotive. Furthermore, rapid urbanization and favorable government policies promoting sustainability are creating a positive market outlook.

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What is included in market segmentation?

The report has segmented the market into the following categories:

Occurrence Type Insights:

• Zircon
• Zirconia
• Others

Form Insights:

• Crystal
• Powder

End Use Insights:

• Ceramics
• Chemicals
• Foundry
• Refractories
• Others

Breakup by Region:

• North America (U.S. & Canada)
• Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
• Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
• Latin America (Brazil, Mexico)
• Middle East & Africa

Who are the key players operating in the industry?

The report covers the major market players including:

• Australian Strategic Materials Ltd (ASM)
• Base Resources Limited
• Doral Mineral Sands Pty Ltd. (Iwatani Corporation)
• Eramet SA
• Iluka Resources Limited
• Kenmare Resources Plc
• Rio Tinto Group
• Saint-Gobain ZirPro
• Tosoh Corporation
• Tronox Holdings Plc

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Tags: Zirconium Market Size, Zirconium Market Share