Global Zirconium Dioxide Market – Overview
Zirconium dioxide is a dynamic material that is used in the production of several industrial and domestic products. It is also called as zirconia and is projected to find a potential market growth in a wide range of industrial applications during the course of the given forecast period. The recent technological developments have considerably contributed in the overall development of the global zirconium dioxide market as it has made the substance more efficient and accessible to its end users.
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Global Zirconium Dioxide Market – Notable Developments
Some of the notable developments in the global zirconium dioxide market are given below:In January 2018, Saint-Gobain ZirPro announced that the company has launched an innovative ceramic powder UprYZe. This new powder is able to provide exceptional mechanical performance or enhanced hydrothermal and wear resistance depending upon the composition. It is made of alumina zirconia microstructure composite and is specifically tailored and engineered by the research and development experts of ZirPro. Commercially, there are two grades available of the product.Recently, Zricomet announced that the company has expanded its range of zirconium and zirconium dioxide powders for thermal barrier coatings.
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Global Zirconium Dioxide Market – Drivers and Restraints
There are various factors that are having a positive influence on the overall development of the global zirconium dioxide market. One key driving factor for the development of the market is the increasing demand from the electronics and paints & coatings industries. Zirconium dioxide offers several benefits such as microbial resistance, corrosion resistance, high strength, and superior chemical stability. Such properties make it an important and ideal manufacturing component in these industries. This has thus helped in driving the growth of the global market.
Another important driving factor for the growth of the global zirconium dioxide market is the increasing demand of zirconium dioxide in the production of fuel cells and electronic displayers. The automotive industry has also growingly adopting zirconium dioxide for the production of protective coatings. Zirconium dioxide provide superior protection to metallic surfaces when they are exposed to high temperatures for longer durations. It thus makes it an ideal protective coating material for producing different components such as exhaust manifolds, pistons, and cylinder heads. This has helped in enhancing its popularity across the sector and ultimately contributed in the overall development of the market. Moreover, the growing preference of consumers for more attractive and aesthetic designs and the desire to enhance the longevity of the vehicle has played a crucial role in the rising adoption of zirconium dioxide market.
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Global Zirconium Dioxide Market – Geographical Outlook
The global zirconium dioxide market has five key geographical segments as North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Of these, the global market is expected to be led by Asia Pacific over the course of the given forecast period of 2019 to 2027. This growth of the Asia Pacific market is primarily driven by the presence of rapidly developing economies such as India and China. These nations have an increasing demand for zirconium dioxide from the ceramics and foundries industries. The region is also witnessing a considerable growth in ceramics and foundries for the production of turbine blades in the aerospace industries. This is also expected to drive the growth of the zirconium dioxide market in Asia Pacific. In addition to this, the booming construction sector in this region is also expected to help in fueling the need for designer and modular tiles that will ultimately aid in propelling the growth of the zirconium dioxide market.
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