Zirconia or zirconium oxide is a non-toxic white crystalline oxide of zirconium. It is used in various applications such as for production of ceramics, abrasives and enamels, as a nanoparticle in electronic products, etc.
Increasing demand for zirconia from various end-use industries is a major factor driving growth of the global zirconia market. A major factor restraining growth of the global zirconia market is high cost of the product.
The global zirconia market has been segmented on the basis of product type, application, and region. On the basis of product type, the global market is segmented into industrial zirconium oxide and ultrafine zirconium oxide. The ultrafine zirconium oxide segment is expected to witness highest growth in terms of revenue during the forecast period.
On the basis of application, the global market is segmented into ceramic, dental, electronic, paint, automobiles, and others. The others segment includes industrial catalyst, fuel cells, aviation engine, and jewelry. The ceramic segment is expected to witness significant growth in terms of revenue during the next 10 years.
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Based on region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America market dominates the global market in terms of revenue and is expected to maintain its dominance over the forecast period. This dominance can be attributed to rising consumption of zirconia by various industries in the region. The market in Asia Pacific is expected to witness significant growth in the global market. The market in Europe is expected to witness considerable growth over the forecast period.
Key players in the global market include ZIRCOMET LIMITED, Iluka Resource Limited, Kenmare Resources plc, CRISTAL, Saint-Gobain ZirPro (Handan) Co., Ltd., Rajpurohit Group of Enterprises, American Elements, H.C. Starck GmbH, Foskor Zirconia, and Allegheny Technologies Incorporated.