Updated Sep 30, 2022 22:04

Market for Zirconium Ore and Concentrate in Eastern Asia

Market Overview
The East Asian zirconium ore and concentrate market skyrocketed to $ in , jumping by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a resilient increase. Over the period under review, the market hit record highs at $ in 2019; afterwards, it flattened through to .

In value terms, zirconium ore and concentrate production totaled $ in estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by % against the previous year. The level of production peaked at $ in 2012; however, from 2013 to , production failed to regain momentum.

The country with the largest volume of zirconium ore and concentrate production was China ( tons), comprising approx. % of total volume.

From 2007 to , the average annual rate of growth in terms of volume in China was relatively modest.


Consumption
In , consumption of zirconium ores and concentrates in Eastern Asia expanded to tons, increasing by % on the year before. In general, consumption posted a buoyant increase. Over the period under review, consumption attained the maximum volume in and is expected to retain growth in the immediate term.

The size of the zirconium ore and concentrate market in Eastern Asia totaled $ in , growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a strong expansion. The level of consumption peaked in and is expected to retain growth in the near future.


Consumption by Country
China ( tons) remains the largest zirconium ore and concentrate consuming country in Eastern Asia, accounting for % of total volume.

In China, zirconium ore and concentrate consumption expanded at an average annual rate of +% over the period from 2007-.

In value terms, China ($) led the market, alone.

In China, the zirconium ore and concentrate market expanded at an average annual rate of +% over the period from 2007-.

From 2007 to , the average annual growth rate of the zirconium ore and concentrate per capita consumption in No country was relatively modest.


Market Forecast
Driven by increasing demand for zirconium ore and concentrate in Eastern Asia, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .