Global Zirconium Market Outlook to 2026

Zirconium (Zr) is a lustrous, greyish-white, soft, ductile, malleable, strong transition metal that closely resembles hafnium and, to a lesser extent, titanium. Zircon (ZrSiO4), the major mineral source for zirconium, occurs in volcanic and plutonic rocks and is extracted as a by-product of gold and titanium extraction.

According to BlueQuark Research & Consulting, the global zirconium market is expected to witness growth at a considerable rate during the forecast period. The major factors responsible for the global zirconium market's growth would be increasing demand for zircon flours and sands in the ceramic industry and rising demand for zirconium in surface coatings and alloys, owing to the element's corrosion-resistant property. Increasing applications in medical, chemical and nuclear sectors play a role in this market’s future. However, the availability of numerous substitutes in the ceramic industry, illegal mining, and government regulations on zirconium’s movement across country borders are some of the challenges presented to the global zirconium market.

Asia-Pacific region is expected to be the largest and fastest-growing market for global zirconium due to the presence of a large number of end-user industries in the region. The existence of established organizations, demand in foundries, refractories, ceramic industry, and investment in research projects are likely to influence this region’s dominance. Population driven economic growth and subsequent focus on harnessing nuclear energy will play a key role in the Asia-Pacific region.

The global zirconium market is consolidated. Major players in the market were found to be Iluka Resources, Rio Tinto, Tronox Holdings, Eramet, and Kenmare Resources, among others.

In 2019, the Indian government prohibited mining of atomic minerals, namely, zirconium, monazite, and thorium, by private entities and will grant operating rights to only state-run companies in order to "safeguard" the strategic interest of the country.

Indian Institute of Technology (IIT) Madras, the University of North Texas, and the US Army Research Laboratory have collaborated in coming up with an engineered magnesium alloy, containing rare-earths like Gadolinium (Gd), Yttrium (Y), and Zirconium (Zr), which is capable of replacing steel and aluminium alloys in the automobile and aerospace industry, making vehicles more fuel-efficient.

Global Zirconium Market report provides deep insights into the current and future state of the zirconium market across various regions. The study comprehensively analyzes the zirconium market by segmenting based on occurrence (Zircon, Zirconia, and Others), type (Alloys, Metal, and Compounds), application (Refractories and Ceramics, Opacifiers, Chemical and Nuclear, Medical and Military, Jewelry, Space and Aeronautics, and Others), and geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The report examines the market drivers and restraints, along with the impact of Covid-19 on the market’s growth, in detail. The study covers & includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with profiles of major companies, including their market shares and projects.