Increasing Utilization of Zirconium in Nuclear Industry to Fuel Global Zirconium Market
A new market research report by Transparency Market Research, titled “Zirconium Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2019”, provides a basic overview of this market. It encapsulates the industry chain structure, definitions, classifications, and applications. The study also includes a comparative evaluation of the market and includes a qualitative and quantitative evaluation of each of the segments prevalent within the market.
An analysis on the zirconium market is provided by studying important regional developments, competitive landscape, and development trends. Furthermore, the report also presents the development policies and plans in the market in the forecast horizon. Key market dynamics such as market drivers, trends, opportunities, and challenges have also been elaborated upon in this study.
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Zirconium is a corrosion-resistant metal utilized in a wide range of common products such as a number of ceramic applications, as a drying agent within paints, and a wide range of components within vehicles. It is also widely utilized in the nuclear energy industry and in surgical appliances and tools. The market for zirconium has recovered from its decline over the last decade and has indicated a slow but a constant growth since the end of 2014. The increasing utilization of zirconium in the nuclear industry is a major factor fuelling the growth of the market. Alloys made of zirconium are employed in classing, manufacturing fuel tubes, and other components.
While the many uses of zirconium will fuel its demand, the increasing cost pressure and the rising environmental concerns are amongst the chief factors that may inhibit the growth of the market for zirconium.
The report states that the growth of the market for zirconium depends on the development of the ceramics industry owing to the fact that zirconium is in high demand in the global ceramics market. The other key consumers of zirconium are refractory, foundry, and electronics industries.
On the basis of geography, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). On the basis of demand, Asia Pacific held the largest share in the market in 2012. This is due to the increasing demand for zirconium from the end-use industries such as that of ceramics, medical, healthcare, and construction. North America trailed Asia Pacific and emerged as the second-largest market for zirconium in 2012. North America was followed by the Europe region, while RoW is predicted to register the highest growth rate in forthcoming years.
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As per the report, the prime players dominant in the market are Bemax Resources, Astron, Wah Chang, Smartac Group China Holdings, Exxaro Resources, Richards Bay Minerals, Namakwa Sands, Australian Zircon, Foskor, Alkane Resources, Tosoh, Astron Advanced Materials, EI DuPont de Nemours, Luxfer Group, and Moly.
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