Zirconium (Zr) is a lustrous, soft, ductile, malleable, greyish-white, strong transition metal that closely resembles hafnium and titanium to a low extent. Zircon (ZrSiO4), the primary mineral source for zirconium, occurs in volcanic and plutonic rocks and is removed as a by-product of gold and titanium extraction. According to BlueQuark Research & Consulting, the global zirconium market is expected to witness growth at a considerable rate during the forecast period. Factors such as growing demand for the worldwide zirconium market's growth would be the growing need for zircon flours and sand in the ceramic sector and the rising need for zirconium in surface coatings and alloys elements corrosion-resistant properties. Further, increasing applications in the medical and chemical sectors play a role in this market's future. Furthermore, significant growth in the nuclear power industry across the globe is one of the key factors driving the growth of the market. However, the availability of various substitutes in the ceramic industry, illegal mining, and government regulations on zirconium's movement across country borders are challenged to the global zirconium market. 

 Zirconium exhibits various advantageous properties, like high malleability and ductility, resistance to corrosion, acids, alkalis, heat, and seawater, through the ability to form steady compounds. It is generally used in manufacturing pipes, plumbing fittings, heat exchangers, steel alloys, colored glazes, bricks, ceramics, abrasives, lamp filaments, and artificial gemstones.

The Ceramic industry is a primary consumer of the zirconium market globally and is expected to drive the future market. Zircon is broadly used in ceramics and foundry, mainly in the form of sand and flour (milled sand), due to its several properties, such as the ability to bind with all organic and inorganic sand binders, low thermal expansion coefficient, low acidity, and high spatial stability at increased temperatures, chemical stability at a high degree, and good renewable. In ceramics, zircon sand is worn for its precious properties, such as a high refractive index for opacification and inducing white color. Its ancillary benefits, including its capability to impart greater mechanical strength, durability, and toughness to ceramic bodies and glass matrices, are accredited and valued by accurate segments in the ceramic industry, thereby catering to the markets with a desire for these attributes. Zircon is mainly used in flour to introduce zirconium to frit compositions or micronized zircon to produce glazes, engobes, and ceramic body compositions. Zircon sand is employed to enhance the abrasion resistance of glazed surfaces, particularly for floor tiles. The adoption of modern tile manufacturing technologies (mostly the double charging process) for porcelain tiles had the most significant impact on reducing zircon use in ceramics, constituting about 90% of the assessed decline in zircon use in Chinese ceramics. The European and Chinese segments are dominate the demand growth of zirconium industry, with China leading the way till 2020. Zirconium is used broadly as a molding base material for sand casting, investment casting, and Cosworth casting (aluminum) in foundry applications. It is also worn as mold coatings in die casting and refractory paints and washes, decreasing the wettability of other foundry sand.

The global zirconium market is consolidated. Major market player were Iluka Resources, Rio Tinto, Tronox Holdings, Eramet, and Kenmare Resources.

The Asia-Pacific region is speculated to be the most significant and fastest-growing market for global zirconium due to many end-user industries. Established organizations, refractories, demand in foundries, ceramic industry, and investment in research projects are likely to influence this region's dominance. Population-driven economic growth and subsequent focus on harnessing nuclear energy will be vital in the Asia Pacific region. Zirconium is used for cladding or outer covering in fuel rods due to its properties, such as high structural strength and low neutron absorption, widespread adoption of zirconium alloys for the manufacturing of flashbulbs, surgical instruments, explosive primers, and rayon spinnerets. It is also used in manufacturing modern porcelain tiles due to its ability to bind with organic and inorganic sand binders, low thermal expansion, and low acidity properties. The rising product adoption in aviation and automotive protective coatings is another growth-inducing factor. Zirconium protects metallic surfaces from prolonged exposure to high temperatures, making it ideal for engine components such as exhaust manifolds, cylinder heads, and pistons. Other factors, including replacing steel dental implants with zirconium alloys and primary research and development activities, are anticipated to propel the global market further.  

In 2019, the Indian government prohibited the mining of atomic minerals, namely, monazite, zirconium, and thorium, by exclusive entities and will grant operating rights to one of the state-run companies to "safeguard" the strategic interest of the country.

In October 2021, the Indian Institute of Technology (IIT) Madras, the US Army Research Laboratory, the University of North Texas, and the US Army Research Laboratory make collaboration in approaching an engineered magnesium alloy containing rare earth like Gadolinium (Gd), Yttrium (Y), and Zirconium (Zr), which is capable of replacing steel and aluminum alloys in the automobile and aerospace industry, making the automobile more fuel-saving.

Global Zirconium Market report provides deep insights into the current and future state of the zirconium market across various regions. The study comprehensively analyzes the zirconium market by segmenting based on occurrence (Zircon, Zirconia, and Others), Product type (Alloys, Metal, and Compounds), application (Refractories and Ceramics, Opacifiers, Chemical and Nuclear, Medical and Military, Jewelry, Space and Aeronautics, and Others), and geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The report examines the market drivers and restraints, along with the impact of Covid-19 on the market's growth, in detail. The study covers & includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with profiles of prominent companies, including their market shares and projects.