Asia Pacific to Register Highest CAGR in Zirconium Dioxide Market During Forecast Period
Rising urbanization coupled
with growing infrastructural spending are expected to drive the growth of
global zirconium dioxide market through 2024
According to
TechSci Research report, “Global Zirconium
Dioxide Market By Purity, By Form, By Manufacturing
Process, By Product Type, By Application, By End Use, By Region, Forecast &
Opportunities, 2024”, the global zirconium dioxide
market is expected to grow at a steady CAGR during the forecast period owing to
the increasing demand for optical fibers from the telecommunication industry.
Additionally, smart city projects, rising adoption of sanitaryware in the
tourism & hospitality sectors are some other important factors, which are
anticipated to propel the zirconium dioxide market over the coming years.
However, the high price of the products manufactured using zirconium dioxide
becomes a hurdle as the same products can be manufactured using aluminum.
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The global
zirconium dioxide market is segmented based on purity, form, manufacturing
process, product type, application, end use, company and region. Based on purity,
the market can be divided into 99% and >99%. The >99% purity segment is
expected to register significant growth over the coming years owing to the to
increasing product demand from automotive sector. Additionally, the ongoing
R&D activities to develop less hazardous products are further expected to
fuel the market for >99% purity segment through 2024. Based on application,
the market can be fragmented into dental, electronic, fuel cells, paints,
automobiles, ceramics, bio-ceramics, jewelry, industrial catalyst and others.
The automobile segment is anticipated to dominate the market on account of the
increasing demand for refurbished vehicles and significant requirement for
commercial automobiles.
Saint-Gobain
Corporation, Zircomet Limited, Tronox Limited, Iluka Resources, Inc., HC Starck
Hermsdorf GmbH, Foskor Zirconia (Pty) Ltd., Guangdong Orient Zirconc, Yixing
Xinxing Zirconium Company Limited, Zibo Guangtong Chemical, Astron Chemicals SA
and
others are some of the leading players operating in global zirconium dioxide market.
The companies operating in the market are using organic strategies such as
product launches, mergers and collaborations to boost their share. For
instance, in January 2018, Saint-Gobain ZirPro announced that it has launched
an innovative ceramic powder UprYZe. This new powder will provide exceptional
mechanical performance or enhanced hydrothermal and wear resistance depending
upon the composition used.
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“Asia-Pacific is expected
to be the fastest growing market for zirconium dioxide during the forecast
period, owing to the rising construction & renovation
activities in transport infrastructure, airports, education institutes, hospitals,
among others. Additionally, increasing
government funding for massive infrastructure projects and growing retail
sector in the region is further anticipated to propel the growth of market through
2024”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Global Zirconium Dioxide Market By Purity, By Form, By Manufacturing Process, By
Product Type, By Application, By End Use, By Region, Forecast &
Opportunities, 2024” has evaluated
the future growth potential of global zirconium dioxide market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global zirconium dioxide market.
Contact
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