Zirconium oxide market is expected to witness significant increase on account of growing ceramic industry over the next six years. Increasing demand for zirconium oxide in numerous applications such as medical products, optical fibers and waterproofing clothing is expected to supplement market growth. The demand is expected to show high growth as a result of increasing use in nuclear and biomedical applications. In addition, its increasing use in protective coating and diamond simulant for jewelery is anticipated to drive market demand over the forecast period. Asia Pacific is expected to propel market growth on account of increasing ceramic tile, medical and construction industry mainly in China, India, Australia and South Korea. The U.S. is expected to witness significant growth on account of rising demand from ceramics and nuclear energy sector over the forecast period. However, volatility in the prices of zirconium coupled with shortage in supply is expected to restrain market growth over the next six years.
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Growing demand in various industrial and consumer applications such as cosmetics and optical fibers is expected to drive market. Moreover, increasing use of zirconium oxide in dentistry to produce crowns and bridges is further expected to supplement market growth. Key players in global zirconium oxide market include Saint-Gobain, DuPont, Alumina Chemicals & Castables, Allegheny Technologies Incorporated, Astron, Alkane Resources, Tosoh Corporation, Zircoa, Exxaro Resources Ltd, Asia Zirconium and Luxfer Group. Saint-Gobain provides high strength products which are widely used in ceramic tiles. Tosoh Corporation offers products which have microcrystalline grain structure which provides strength, wear resistance, flexibility and heat-insulating properties.
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