Asia: Market for Zirconium Ores and Concentrates 2024

Market Size for Zirconium Ores and Concentrates in Asia

For the third consecutive year, the Asian zirconium ore and concentrate market recorded growth in sales value, which increased by X% to $X in 2023. The total consumption indicated modest growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. Over the period under review, the market reached the maximum level in 2023 and is likely to see gradual growth in the near future.

Production of Zirconium Ores and Concentrates in Asia

In value terms, zirconium ore and concentrate production totaled $X in 2023 estimated in export price. In general, production recorded a mild downturn. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

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Exports of Zirconium Ores and Concentrates

Exports in Asia

In 2023, after three years of growth, there was significant decline in overseas shipments of zirconium ores and concentrates, when their volume decreased by X% to X tons. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when exports increased by X%. As a result, the exports attained the peak of X tons, and then fell dramatically in the following year.

In value terms, zirconium ore and concentrate exports fell remarkably to $X in 2023. In general, exports, however, saw a temperate increase. 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, and then declined markedly in the following year.

Exports by Country

Indonesia was the largest exporter of zirconium ores and concentrates in Asia, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2023. Kazakhstan (X tons) took the second position in the ranking, followed by China (X tons), Malaysia (X tons), the United Arab Emirates (X tons) and Vietnam (X tons). All these countries together took near X% share of total exports. Pakistan (X tons) took a little share of total exports.

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

In value terms, Indonesia ($X) remains the largest zirconium ore and concentrate supplier in Asia, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by Malaysia, with an X% share.

In Indonesia, zirconium ore and concentrate exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: China (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2023, the export price in Asia amounted to $X per ton, growing by X% against the previous year. Export price indicated a measured increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, zirconium ore and concentrate export price decreased by X% against 2021 indices. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2023, the export prices stood at a somewhat lower figure.

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

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

Imports of Zirconium Ores and Concentrates

Imports in Asia

Zirconium ore and concentrate imports skyrocketed to X tons in 2023, increasing by X% against 2022. Total imports indicated a perceptible expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. The volume of import peaked in 2023 and is likely to see steady growth in the near future.

In value terms, zirconium ore and concentrate imports contracted to $X in 2023. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2022, and then shrank 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. It was distantly followed by India (X tons), constituting a X% share of total imports. Malaysia (X tons) held a minor share 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%) and Malaysia (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2023. 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 ($X) constitutes the largest market for imported zirconium ores and concentrates in Asia, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports.

In China, zirconium ore and concentrate imports remained relatively stable over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: India (X% per year) and Malaysia (X% per year).

Import Prices by Country

In 2023, the import price in Asia amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the import price showed a pronounced decrease. The pace of growth appeared the most rapid in 2022 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

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 leaders experienced a decline in the import price figures.

Source: IndexBox Platform