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.

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