The most recent study conducted by Report Ocean, titled “Global Zirconia Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Zirconia. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
The Zirconia also known as zirconium dioxide, is a white crystalline oxide of zirconium. It is a widely used ceramic oxide. Zirconia materials have good mechanical properties and stability at high temperatures, strong thermal and corrosion resistance, chemical inertness properties. It has wide range of applications such as in the production of ceramics, as a protective coating on particles of titanium dioxide pigments, as a refractory material, and in insulation, abrasives, and enamels. The rising incidences of dental related diseases and increasing end use application of Zirconia across different industries as well as recent product innovations from leading market players are factors that are accelerating the global market demand.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
For instance, according to World Health Organization (WHO) estimates – as of 2019, Globally around 3.5 billion individuals are affected by oral diseases. Furthermore, around 2 billion people suffer from caries of permanent teeth and 520 million children suffer from caries of primary teeth. In addition, as per Centers for Disease Control and prevention estimates – In United States more than 1 in 4 (26%) adults have untreated tooth decay. Moreover, in February 2022, Germany based KYOCERA Fineceramics Solutions GmbH developed a new Ceramic Zirconia material, named FZM+.
This new material offers several properties including Higher fracture toughness, better strength, high hydrothermal resistance and low Young’s modulus among others. Also, growing Building and construction sector and increasing production of nanoparticles are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, a high cost associated with Zirconia products impedes the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Zirconia Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing number of construction activities and presence of leading market players. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the thriving growth of the end-use segments, increasing prevalence of dental diseases in the region, would create lucrative growth prospects for the global Zirconia Market across the Asia Pacific region.
Major market players included in this report are:
Zircomet Ltd.
Iluka Resource Limited
Kenmare Resources Plc
Tronox Limited
Saint-Gobain ZirPro
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Luxfer Holdings PLC
Raj Purohit Group Of Enterprises
American Elements
H.C. Starck GmbH
TAM Ceramics
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type
Tetragonal Zirconia Polycrystals
Partially Stabilized Zirconia
Fully Stabilized Zirconia
Transformation Toughened Ceramics
Zirconia Toughened Alumina
Transformation Toughened Zirconia
By Application
Dental
Automobiles
Industrial Catalyst
Electronics
Paints
Ceramics
Jewelry
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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