Global Zirconium Dioxide Market is set to grow from its current market value of more than $65 million to over $85 million by 2025; according to a new research report by Global Market Insights, Inc.
Growing product demand for automotive & aerospace protective coatings owing to rising investments, changing consumer lifestyles and significant R&D initiatives by manufacturers should boost zirconium dioxide market growth. Rising defense spending, increase in the number of air travelers and cost-effective coatings introduced by manufacturers should drive aerospace coatings industry growth and fuel product demand. Increasing demand for refurbished vehicles and significant requirement for commercial automobiles owing to booming transportation sector should further boost market growth.
Global 99.5% based zirconium dioxide market should surpass USD 39.5 million by 2025 on account of rising demand for ceramic tiles from hospitals, residential buildings, and educational institutions. Substantial rise in housing requirement and growing adoption of automated production techniques is predicted to stimulate product demand. Significant urbanization and rising investment in infrastructure development is likely to trigger market growth.
North America zirconia market led by the U.S., Canada and Mexico surpassed USD 15 million in 2018 and should grow significantly in the foreseeable timeframe pertaining to growing elderly population segment and rising consumer awareness of dental implants. The region is witnessing increasing incidence of dental caries, gum disorders and tooth decay which increases the threat of tooth loss and should drive product adoption. Growing consumer acceptance for cosmetic dentistry, increased availability of insurance coverage and technological advancements are likely to further promote zirconium dioxide market growth.
Global 99% purity market from abrasives applications should register over 3.5% gains by 2025 on account of rising focus on improving automotive efficiency and growing demand from manufacturing sector. These products find widespread usage in repairing, cleaning & deburring automobile body, accessories & interiors. Growing disposable income, booming electronics sector and government incentives to promote manufacturing activities should accelerate zirconium dioxide market growth.
Saint Gobain-ZirPro, American Elements, H.C. Stark, Tosoh Corp., ATI, TAM Ceramics, and Alkane Resources are among the prominent industry participants in the zirconium dioxide market. Several manufacturers are engaged in developing new products to attain market growth in new segments, attract more customers and achieve competitive advantage.
Source: https://www.gminsights.com/pressrelease/zirconium-dioxide-market
