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The global market for zirconium oxide is primarily being driven by the rising application of the product in the ceramic industry. Zirconium oxide is suitable for the manufacture of electro-ceramics and electrochromic equipment and has suitable ionic conductivity and low electronic conductivity. Zirconium oxide, due to its biocompatibility, resilience, and appearance, is used extensively as a dental ceramic for the crowning of teeth. Since zirconium oxide is chemically inert, ceramics can withstand acid, base, and organic solvents attacks, making it the suitable choice for the production of various kinds of ceramics, including advanced technical ceramics, decorative ceramics, as well as conduction ceramics, among others.
The growing competition among the key players is driving the growth of the industry. In January 2020, Imerys SA (IMYSF: OTC US), one of the key players, the company announced a price rise for its mineral solutions and kiln furniture portfolio. This is projected to impact the ceramics industry and the global zirconium oxide industry. The rising innovation and R&D activities by the key players are expected to boost the market growth. In January 2018, Saint-Gobain ZirPro launched an innovative ceramic powder with superior mechanical performance and enhanced wear, and hydrothermal resistance called UprYZe. Its two grades find application in harsh operating conditions like the oil and gas industry and in mechanically demanding applications. With zirconium oxide finding extensive applications in ceramics, such developments are expected to influence the market growth positively.
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The major players in the global zirconium oxide market are Saint-Gobain ZirPro, Imerys S.A., Tateho Chemical Industries Co., Ltd., Luxfer MEL Technologies, and Astron Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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