Asia: Zirconium Market 2024

Zirconium Market Size in Asia

The Asian zirconium market fell slightly to $X in 2022, standing approx. at the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Zirconium Production in Asia

In value terms, zirconium production reduced to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Zirconium Exports

Exports in Asia

In 2022, shipments abroad of zirconium increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, zirconium exports contracted slightly to $X in 2022. In general, exports recorded resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Taiwan (Chinese) was the main exporter of zirconium in Asia, with the volume of exports amounting to X tons, which was near X% of total exports in 2022. It was distantly followed by China (X tons), constituting a X% share of total exports. Hong Kong SAR (X tons) and Japan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest zirconium supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and Japan (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, declining by X% against the previous year. Overall, the export price saw a mild curtailment. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, the export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced mixed trends in the export price figures.

Zirconium Imports

Imports in Asia

Zirconium imports rose remarkably to X tons in 2022, increasing by X% on the year before. Overall, imports, however, recorded a pronounced descent. The growth pace was the most rapid in 2021 with an increase of X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, zirconium imports declined sharply to $X in 2022. Over the period under review, imports, however, recorded a deep setback. The pace of growth appeared the most rapid in 2019 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Saudi Arabia represented the largest importing country with an import of about X tons, which amounted to X% of total imports. China (X tons) ranks second in terms of the total imports with a X% share, followed by Vietnam (X%) and Malaysia (X%). The following importers - Japan (X tons) and Taiwan (Chinese) (X tons) - each reached a X% share of total imports.

Saudi Arabia was also the fastest-growing in terms of the zirconium imports, with a CAGR of X% from 2012 to 2022. At the same time, Malaysia (X%) displayed positive paces of growth. By contrast, Vietnam (X%), Japan (X%), China (X%) and Taiwan (Chinese) (X%) illustrated a downward trend over the same period. Saudi Arabia (X p.p.), Malaysia (X p.p.) and Vietnam (X p.p.) significantly strengthened its position in terms of the total imports, while China and Taiwan (Chinese) saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising X% of total imports. Malaysia, Saudi Arabia and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

Malaysia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the import price showed a perceptible decrease. The growth pace was the most rapid in 2015 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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