Zirconium Oxychloride Market Analysis :
Zirconium oxychloride is a whitish, slightly yellowish crystal-like structure, which is moist. It is the first chemical product obtained from the processing of zircon sand. It is usually used as a pioneer for synthesis of catalysts and salts based on zirconium. Zirconium oxychloride is used in wide variety of applications such as cosmetics & personal care products, fire proof materials, and dyeing of textiles. Zirconium oxychloride is used as a forerunner for manufacturing advanced zirconium dioxide powders. Zirconium oxychloride is now being used in nano technology in electrical and electronics industry, medical products, and nuclear refractors.
- The global market for zirconium oxychloride is severely impacted by the outbreak of the COVID-19 pandemic.
- The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns.
- Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
- Thus, insufficiency in raw material supply is expected to hamper the production rate of zirconium oxychloride, which negatively impact the market growth.
- However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.
Zirconium chloride is widely used as a drying agent in paints, varnishes, cost and inks. It is also used in the production of the refractory materials which are high in temperature such as opacifiers in enamels, glazes and glass polishing. Additionally, zirconium oxychloride finds application in dying of textiles, fire proof materials, and water repellents among others. Zirconium oxychloride is also used in the manufacturing of cosmetic and personal care products such as antiperspirants.
The factor which has been majorly driving the growth of the zirconium chloride market is the increasing demand for paints, coating and inks. It is extensively used in paints, coating and inks due to its fast drying property which helps in smooth application of the paints, coating and inks and also aids in the drying process. Additionally, zirconium oxychloride market has been witnessing an increase in the application in various other industries such as textiles, rubber and ceramics among others. With a substantial and stable growth in various industries, the growth in the zirconium chloride market is also expected over the coming years.
A significant amount of time and capital has been invested to find and expand the application horizon of zirconium chloride. This has led to the application of zirconium chloride in nano technology in electronics and electrical industry. It is now also used in nuclear reactors and medical purposes.
As there is a presence of various market players among the zirconium chloride market, availability of competitor’s product at cheaper prices is the major market restrain faced by the product market.
Asia-Pacific is expected to dominate the zirconium chloride market. This is due to the growth in various end user industries such as cosmetics and personal care, medical, paints, coatings and inks, textile among more. China is expected to hold the position of the market leader. India is also anticipated to gain a significant market share. Europe and North America are expected to witness a significant growth in the zirconium oxychloride market. The Middle East and African markets for zirconium chloride are anticipated to grow but at a slow and sluggish rate over the coming years.
Key benefits of the report:
- This study presents the analytical depiction of the global zirconium oxychloride industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global zirconium oxychloride market share.
- The current market is quantitatively analyzed to highlight the global zirconium oxychloride market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global zirconium oxychloride market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the zirconium oxychloride research report:
- Which are the leading players active in the zirconium oxychloride market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Zirconium Oxychloride Market Report Highlights
By End- user
Key Market Players
Allegheny Technologies Incorporated (ATI), Zr-Valley Science & Technology Co. Ltd., Jiangxi Kingan Hi-Tech Co., Ltd., Sisco Research Laboratories Pvt. Ltd., Henan Billions Chemicals Co. Ltd., Zibo Guangtong Chemical Co., Ltd., Saint-Gobain (Saint-Gobain ZirPro), Indenta Chemicals India Pvt. Ltd., Bhalla Chemical Works Pvt.Ltd., Guangdong Dongfang Zirconium Technology Co., Ltd.