Overview of the Global Market for Zirconium Ores and Concentrates

Market Size for Zirconium Ores and Concentrates

After two years of growth, the global zirconium ore and concentrate market decreased by X% to $X in 2023. Over the period under review, consumption, however, recorded a mild setback. Over the period under review, the global market attained the peak level at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Production of Zirconium Ores and Concentrates

In value terms, zirconium ore and concentrate production rose modestly to $X in 2023 estimated in export price. In general, production showed a noticeable curtailment. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Global production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Exports of Zirconium Ores and Concentrates

Exports

After two years of growth, overseas shipments of zirconium ores and concentrates decreased by X% to X tons in 2023. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2022 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons, and then fell in the following year.

In value terms, zirconium ore and concentrate exports declined sharply to $X in 2023. Overall, exports, however, showed a notable expansion. The growth pace was the most rapid in 2022 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then contracted markedly in the following year.

Exports by Country

In 2023, South Africa (X tons) represented the largest exporter of zirconium ores and concentrates, committing X% of total exports. It was distantly followed by Indonesia (X tons), Senegal (X tons) and Mozambique (X tons), together generating a X% share of total exports. The following exporters - Sierra Leone (X tons), Australia (X tons), Madagascar (X tons), Kazakhstan (X tons), Kenya (X tons), China (X tons), Malaysia (X tons) and the United States (X tons) - together made up X% of total exports.

Exports from South Africa increased at an average annual rate of X% from 2012 to 2023. At the same time, Senegal (X%), Sierra Leone (X%), Kazakhstan (X%), Malaysia (X%), Mozambique (X%), Kenya (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2023. China and the United States experienced a relatively flat trend pattern. By contrast, Australia (X%) and Madagascar (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of South Africa, Senegal, Mozambique, Sierra Leone and Kazakhstan increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest zirconium ore and concentrate supplier worldwide, comprising X% of global exports. The second position in the ranking was taken by Indonesia ($X), with a X% share of global exports. It was followed by Senegal, with an X% share.

From 2012 to 2023, the average annual growth rate of value in South Africa totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (X% per year) and Senegal (X% per year).

Export Prices by Country

In 2023, the average zirconium ore and concentrate export price amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by X% against the previous year. The global export price peaked at $X per ton in 2022, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Sierra Leone ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Kenya (X%), while the other global leaders experienced more modest paces of growth.

Imports of Zirconium Ores and Concentrates

Imports

In 2023, approx. X tons of zirconium ores and concentrates were imported worldwide; picking up by X% compared with 2022. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by X%. Global imports peaked in 2023 and are likely to continue growth in the near future.

In value terms, zirconium ore and concentrate imports reduced to $X in 2023. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, global imports hit record highs at $X in 2022, and then contracted in the following year.

Imports by Country

China prevails in imports structure, finishing at X tons, which was approx. X% of total imports in 2023. The following importers - Spain (X tons), India (X tons), Malaysia (X tons), Italy (X tons) and the Netherlands (X tons) - together made up X% of total imports.

From 2012 to 2023, average annual rates of growth with regard to zirconium ore and concentrate imports into China stood at X%. At the same time, India (X%), the Netherlands (X%), Malaysia (X%) and Spain (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2023. By contrast, Italy (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) and India (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported zirconium ores and concentrates worldwide, comprising X% of global imports. The second position in the ranking was held by Spain ($X), with an X% share of global imports. It was followed by India, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in China was relatively modest. In the other countries, the average annual rates were as follows: Spain (X% per year) and India (X% per year).

Import Prices by Country

The average zirconium ore and concentrate import price stood at $X per ton in 2023, declining by X% against the previous year. Over the period under review, the import price continues to indicate a noticeable contraction. The growth pace was the most rapid in 2022 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other global leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform