Zirconium Oxychloride Market: Growth, Trends, Key Players, Competitive Strategies and Forecasts

Zirconium oxychloride is a white/slightly yellowish moist crystal-like structure which is primarily used as a precursor for the synthesis of catalysts and zirconium based salts. Apart from the conventional applications, zirconium oxychloride is also widely used for a number of applications, including drying agent in paints, coatings and inks industry as well as for manufacturing high temperature refractory materials, such as opacifier in glazes and enamels and glass polishing. Moreover, zirconium oxychloride also finds usage in textile dyeing, water repellents, fire proof materials and in the manufacturing of cosmetics and personal care products, such as antiperspirants, etc. Significant research and investment has been done to expand the application areas for zirconium chloride. For instance, it is now used in nano technology in the electrical and electronics industry, nuclear reactors as well as for medicinal purposes.

The major factor driving the growth of global zirconium oxychloride market is its increasing demand from paints, dyes and inks and coatings industry. Zirconium oxychloride improves the drying ability of paints and coatings, making its application easier.

Moreover, there has been an increase in the use of zirconium oxychloride across a number of other end use industries and applications, such as textile, ceramics, rubber, antiperspirants, water repellents and others. With the steady growth across these industries, the global zirconium oxychloride market is also projected to grow during the forecast period.

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As the market comprises a number of China-based players, one of the major challenge faced by the global zirconium oxychloride manufacturers is the easy availability of products at competitive prices.

The global zirconium oxychloride market has seen increasing investments in the area of research and development to explore the possibility of usage in a number of non-conventional applications, such in nano technology in electrical and electronics industry. Over the past few years, zirconium oxychloride has also been used in nuclear reactors and in medical applications.

The global zirconium oxychloride market is anticipated to be dominated by the Asia Pacific region, both in terms of market share and CAGR index. China is projected to hold a significant share in the Asia Pacific zirconium oxychloride market. India is also anticipated to gain considerable market share in the Asia Pacific zirconium oxychloride market. This can be attributed to the steady growth in end use industries, such as textile, ceramic and paints, coatings and inks industry. North America and Europe are projected to hold significant share in the global zirconium oxychloride market. Latin America, on the other hand, is projected to show moderate growth over the outlook period. Regions, such as Middle East and Africa and Japan are projected to show relatively slower growth as compared to other regions.

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