Zirconium oxide market is expected to witness high growth on account of rising demand for ceramic products over the next six years. Increasing demand for zirconium oxide in numerous applications such as medical products, optical fibers and waterproofing clothing is expected to supplement market growth. Demand for zirconium oxide is expected to show high growth rate as a result of its increasing use in nuclear and biomedical applications. In addition, growing use in protective coating and as a diamond simulant for jewelry is anticipated to further drive market growth.
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Asia Pacific is expected to propel market growth on account of increasing demand for ceramic tile coupled with expansion of the medical and construction sectors mainly in China, India, Australia and South Korea. The U.S. is expected to witness significant growth on account of rising demand from ceramics and nuclear energy sector over the forecast period. However, volatility in the prices of zirconium coupled with shortage in supply is expected to restrain market growth over the forecast period.
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Growing demand in various industrial and consumer applications such as cosmetics and optical fibers is expected to drive zirconium oxide market. Moreover, increasing use of zirconium oxide in dentistry to produce crowns and bridges is likely to supplement market demand. Key players in the global zirconium oxide market include Saint-Gobain, DuPont, Alumina Chemicals & Castables, Allegheny Technologies Incorporated, Astron, Alkane Resources, Tosoh Corporation, Zircoa, Exxaro Resources Ltd, Asia Zirconium and Luxfer Group. Saint-Gobain provides high strength products which are widely used in ceramic tiles. Tosoh Corporation offers products which have microcrystalline grain structure with high strength, wear resistance, flexibility and heat-insulating properties.
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