Eastern Europe: Zirconium Market 2024

Zirconium Market Size in Eastern Europe

The East European zirconium market expanded slightly to $X in 2022, rising by 3.4% against the previous year. The market value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Zirconium Production in Eastern Europe

In value terms, zirconium production reached $X in 2022 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% 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 -5.3% against 2020 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 58%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Zirconium Exports

Exports in Eastern Europe

Zirconium exports reduced markedly to X kg in 2022, with a decrease of -49.1% against 2021 figures. Overall, exports saw a significant decrease. The growth pace was the most rapid in 2016 when exports increased by 386%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, zirconium exports contracted remarkably to $X in 2022. Over the period under review, exports showed a sharp descent. The growth pace was the most rapid in 2016 with an increase of 610%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Hungary (X kg) was the key exporter of zirconium in Eastern Europe, committing 100% of total export.

Hungary was also the fastest-growing in terms of the zirconium exports, with a CAGR of +14.3% from 2012 to 2022. Hungary (+98 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hungary ($X) also remains the largest zirconium supplier in Eastern Europe.

From 2012 to 2022, the average annual growth rate of value in Hungary stood at +4.0%.

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, dropping by -44.4% against the previous year. Over the period under review, the export price, however, continues to indicate slight growth. The pace of growth was the most pronounced in 2015 an increase of 169% against the previous year. The level of export peaked at $X per ton in 2021, and then declined significantly in the following year.

As there is only one major export destination, the average price level is determined by prices for Hungary.

From 2012 to 2022, the rate of growth in terms of prices for Hungary amounted to -9.1% per year.

Zirconium Imports

Imports in Eastern Europe

In 2022, imports of zirconium in Eastern Europe dropped to X tons, reducing by -9.1% compared with the previous year's figure. In general, imports, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2017 with an increase of 224% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, zirconium imports stood at $X in 2022. Overall, imports, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2013 when imports increased by 128%. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Russia dominates imports structure, amounting to X tons, which was approx. 66% of total imports in 2022. It was distantly followed by Hungary (X tons), Poland (X tons), the Czech Republic (X tons) and Romania (X tons), together committing a 34% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to zirconium imports into Russia stood at +20.7%. At the same time, Poland (+65.8%), Romania (+54.8%) and Hungary (+12.1%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +65.8% from 2012-2022. By contrast, the Czech Republic (-2.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Russia, Poland and Romania increased by +25, +8.7 and +6 percentage points, respectively.

In value terms, Russia ($X) constitutes the largest market for imported zirconium in Eastern Europe, comprising 70% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a 20% share of total imports. It was followed by Hungary, with a 5.6% share.

In Russia, zirconium imports expanded at an average annual rate of +24.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Czech Republic (+10.9% per year) and Hungary (+5.3% per year).

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, with an increase of 12% against the previous year. Import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, zirconium import price decreased by -10.3% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the import price increased by 115%. Over the period under review, import prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 the Czech Republic ($X per ton), while Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+14.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :