H1 2023: The key producers of Zirconium Silicate in H1 2023 were Iluka Resources Limited, Tronox Ltd, and Sheffield Resources Ltd. During H1 2023, North America experienced an overall bearish Zirconium Silicate market. Due to low demand by the downstream industries, zirconium silicate prices continued to decline in the US market during H1 2023. The downstream construction sector's below average performance was the main cause of the low Zirconium Silicate demand. The downstream ceramic market was affected by the high interest rates, general inflation, and a significant bank crisis in the US. The manufacturers of downstream industries utilized their inventories in the US market. In the US, there was an adequate supply to meet the needs of the downstream ceramic and refractory industry. On the other hand, the Asian Zirconium silicate market was overall positive in the first three months of 2023, with a moderate pace of price increase in China. In order to boost economic growth, China accelerated infrastructure construction in the first half of H1 2023, which curated a stable demand for Zirconium silicate by the downstream ceramic and refractory industry. After the Lunar Holidays, China's market reopened which improved the trade to foreign countries as more orders came in from abroad, further supporting the upward price trend in China.
The global Zirconium Silicate market has expanded to reach approximately 1100 thousand tonnes in 2022 and is expected to grow at a healthy CAGR of 4.89% during the forecast period until 2035.
Zirconium silicate is a chemical compound with the chemical formula ZrSiO₄. This compound naturally occurs in the form of zircon. Refractory materials are synthesized from zirconium silicate, which is employed in applications where resistance to corrosion by alkali materials is required. Zirconium Silicate displays properties like resistance to alkali, water, acids, and chemical that drives its applications in the ceramic market. The primary market driving factor of Zirconium Silicate is for producing ceramics and giving them shiny glaze and superior durability. Ceramics are used in traditional applications like tiles, toilet seats, floors, and roofs in advanced engineering applications. The applications of ceramics are anticipated to rise and expand in the future, likely to swell the demand for Zirconium Silicate in the forecast period of 2035.
Moreover, using Zirconium Silicate in refractory products gives them high durability, resistance to corrosion, and thermal stability. Refractory products are employed in furnaces and reactors to manufacture crucibles for casting metals and flame-detecting systems of rockets. Thus, the refractory industry is another leading fragment that further contributes to the demand for Zirconium silicate. The global Zirconium Silicate market will most likely reach 2100 thousand tonnes by 2035.
Based on region, North America is dominating the Zirconium Silicate market, followed by Europe and Asia Pacific region. In 2022, North America accounted for consumption of approximately 31% of the market. However, the rise in construction activities in the Asia Pacific region will create an ample demand for the ceramics and chemical sector, anticipated to propel the demand for Zirconium Silicate in the forecast period. Australia is leading in terms of producing Zirconium Silicate. The largest source of zircon in the world is in Queensland, Australia. The source is the deposits on Queensland's North Stradbroke Island, with an abundance of heavy mineral soils. However, in the future, due to a decrease in the volume of these sands, the output is anticipated to fall.
Based on the end-user industry, the global Zirconium Silicate market is segregated into Ceramic Industry, Chemicals, Foundry, Refractories, and Others. Among these, the Ceramic Industry dominates the Zirconium Silicate market, accounting for nearly 40% of global consumption in 2022. This industry is anticipated to maintain its position owing to its heavy usage in the construction of public infrastructure and domestic households. Moreover, Refractories is the second largest consumer of the zirconium silicate market.
Major players in the production of Global Zirconium Silicate are Iluka Resources Limited, Tronox Ltd, Sheffield Resources Ltd, Mineral Deposits Ltd, Mineral commodities Ltd, World Titanium Resources Ltd (WTR), Kenmare Resources plc, India Rare Earth Limited., V.V Minerals., and MZI resources Ltd.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2035
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Objective of the Study:
• To assess the demand-supply scenario of Zirconium Silicate which covers production, demand and supply of Zirconium Silicate market in the globe.
• To analyse and forecast the market size of Zirconium Silicate
• To classify and forecast Global Zirconium Silicate market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Zirconium Silicate market in the globe.
To extract data for Global Zirconium Silicate market, primary research surveys were conducted with Zirconium Silicate manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Zirconium Silicate market over the coming years.
ChemAnalyst calculated Zirconium Silicate demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Zirconium Silicate across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Zirconium Silicate manufacturers and other stakeholders
• Organizations, forums and alliances related to Zirconium Silicate distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Zirconium Silicate manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Zirconium Silicate market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
1100 thousand tonnes
Market size Volume by 2035
2100 thousand tonnes
Growth Rate
CAGR of 4.89% from 2023 to 2035
Base year for estimation
2023
Historical Data
2015 – 2022
Forecast period
2024 – 2035
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2035
Report coverage
Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Policy and Regulatory Landscape.
Segments covered
By End-Use: (Ceramic Industry, Chemicals, Foundry, Refractories, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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What is the expected global market size of Zirconium Silicate in terms of volume for 2035?
Ans:
The global market size of Zirconium Silicate is expected to reach approximately 2100 thousand tonnes by 2035, with an expected CAGR of 4.89%.
Q2.
Which end-use industry is dominating the Global Zirconium Silicate market?
Ans:
The Ceramic industry is dominating the Zirconium Silicate market with a market share of 40% in 2022.
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