China: Zirconium Market 2024

Zirconium Market Size in China

The Chinese zirconium market contracted to $X in 2022, shrinking by -1.8% against the previous year. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Zirconium Production in China

In value terms, zirconium production dropped slightly to $X in 2022 estimated in export price. In general, the total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -9.2% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 46%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Zirconium Exports

Exports from China

In 2022, the amount of zirconium exported from China shrank modestly to X tons, stabilizing at the year before. In general, exports, however, posted buoyant growth. The pace of growth was the most pronounced in 2014 with an increase of 218%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, zirconium exports shrank to $X in 2022. Overall, exports, however, saw resilient growth. The pace of growth was the most pronounced in 2014 with an increase of 366%. 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

Sweden (X tons), the United States (X tons) and Germany (X tons) were the main destinations of zirconium exports from China, together comprising 94% of total exports. These countries were followed by Japan, which accounted for a further 6%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +34.4%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Sweden ($X) and Germany ($X) were the largest markets for zirconium exported from China worldwide, together comprising 94% of total exports. Japan lagged somewhat behind, accounting for a further 5.3%.

Japan, with a CAGR of +35.6%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average zirconium export price stood at $X per ton in 2022, reducing by -4.9% against the previous year. In general, export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, zirconium export price decreased by -8.0% against 2019 indices. The growth pace was the most rapid in 2014 an increase of 46% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+1.0%), while the prices for the other major destinations experienced mixed trend patterns.

Zirconium Imports

Imports into China

In 2022, zirconium imports into China shrank to X tons, waning by -6.4% on the year before. Overall, imports recorded a perceptible reduction. The pace of growth appeared the most rapid in 2014 with an increase of 425% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, zirconium imports fell to $X in 2022. Over the period under review, imports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2015 with an increase of 326%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, South Africa (X tons) constituted the largest supplier of zirconium to China, accounting for a 46% share of total imports. Moreover, zirconium imports from South Africa exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X tons), threefold. The third position in this ranking was taken by Canada (X tons), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from South Africa amounted to +295.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-1.5% per year) and Canada (-40.3% per year).

In value terms, South Africa ($X) constituted the largest supplier of zirconium to China, comprising 39% of total imports. The second position in the ranking was taken by Germany ($X), with a 14% share of total imports. It was followed by Japan, with a 9.8% share.

From 2012 to 2022, the average annual growth rate of value from South Africa amounted to +283.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.7% per year) and Japan (-8.5% per year).

Import Prices by Country

The average zirconium import price stood at $X per ton in 2022, with an increase of 4.4% against the previous year. Over the period under review, the import price, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2015 when the average import price increased by 267%. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Hong Kong SAR ($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 (+1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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