Eastern Asia: Zirconium Market 2024

Zirconium Market Size in Eastern Asia

The East Asian zirconium market reduced modestly to $X in 2022, dropping by -1.8% against the previous year. The market value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Zirconium Production in Eastern Asia

In value terms, zirconium production declined slightly to $X in 2022 estimated in export price. The total production indicated a tangible expansion 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 most prominent rate of growth was recorded in 2014 when the production volume increased by 46%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Zirconium Exports

Exports in Eastern Asia

In 2022, zirconium exports in Eastern Asia declined modestly to X tons, which is down by -1.7% compared with the previous year. In general, exports, however, saw buoyant growth. The pace of growth appeared the most rapid in 2014 when exports increased by 128%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, zirconium exports declined slightly to $X in 2022. Overall, exports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 276% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Taiwan (Chinese) (X tons) and China (X tons) dominates exports structure, together mixing up 93% of total exports. Hong Kong SAR (X tons) and Japan (X tons) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Taiwan (Chinese) (with a CAGR of +9.6%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest zirconium supplier in Eastern Asia, comprising 78% of total exports. The second position in the ranking was taken by Japan ($X), with an 8.8% share of total exports. It was followed by Taiwan (Chinese), with a 6.3% share.

In China, zirconium exports increased at an average annual rate of +11.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-7.3% per year) and Taiwan (Chinese) (+5.2% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, shrinking by -2.2% against the previous year. Over the period under review, the export price continues to indicate a mild curtailment. The most prominent rate of growth was recorded in 2014 an increase of 65%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($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 (+10.0%), while the other leaders experienced mixed trends in the export price figures.

Zirconium Imports

Imports in Eastern Asia

In 2022, imports of zirconium in Eastern Asia contracted to X tons, therefore, remained relatively stable against the previous year's figure. Over the period under review, imports saw a pronounced reduction. The growth pace was the most rapid in 2018 with an increase of 160% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, zirconium imports rose significantly to $X in 2022. Overall, imports faced a drastic downturn. The pace of growth was the most pronounced in 2018 when imports increased by 53% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China represented the major importer of zirconium in Eastern Asia, with the volume of imports amounting to X tons, which was near 78% of total imports in 2022. Japan (X tons) took the second position in the ranking, distantly followed by South Korea (X tons). All these countries together took near 19% share of total imports. Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to zirconium imports into China stood at -3.5%. Japan (-3.4%), Hong Kong SAR (-9.0%) and South Korea (-13.4%) illustrated a downward trend over the same period. China (+8.5 p.p.) and Japan (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR and South Korea saw its share reduced by -2.1% and -7.9% from 2012 to 2022, respectively.

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2022, with a combined 96% share of total imports.

In terms of the main importing countries, Japan, with a CAGR of -5.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, rising by 14% against the previous year. Overall, the import price, however, showed a abrupt decrease. The growth pace was the most rapid in 2015 an increase of 57%. Over the period under review, import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+3.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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