EU: Zirconium Market 2024

Zirconium Market Size in the EU

The EU zirconium market contracted to $X in 2022, declining by -9.1% against the previous year. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +3.5% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Zirconium Production in the EU

In value terms, zirconium production reduced to $X in 2022 estimated in export price. The total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.9% 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 -12.0% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 23% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Zirconium Exports

Exports in the EU

In 2022, exports of zirconium in the European Union contracted notably to X tons, which is down by -23% compared with the previous year's figure. Over the period under review, exports recorded a pronounced decline. The pace of growth was the most pronounced in 2015 when exports increased by 40% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, zirconium exports contracted to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when exports increased by 32%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany represented the largest exporter of zirconium in the European Union, with the volume of exports finishing at X tons, which was near 73% of total exports in 2022. It was distantly followed by Spain (X tons) and the Netherlands (X tons), together creating a 24% share of total exports. Italy (X tons) held a relatively small share of total exports.

Exports from Germany increased at an average annual rate of +2.1% from 2012 to 2022. At the same time, Spain (+173.9%) and the Netherlands (+25.7%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +173.9% from 2012-2022. By contrast, Italy (-17.0%) illustrated a downward trend over the same period. Germany (+27 p.p.), Spain (+17 p.p.) and the Netherlands (+5.7 p.p.) significantly strengthened its position in terms of the total exports, while Italy saw its share reduced by -13.7% from 2012 to 2022, respectively.

In value terms, Germany ($X) remains the largest zirconium supplier in the European Union, comprising 87% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 5.6% share of total exports. It was followed by Spain, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Germany stood at +2.4%. In the other countries, the average annual rates were as follows: the Netherlands (+53.8% per year) and Spain (+140.7% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, increasing by 13% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The pace of growth was the most pronounced in 2020 an increase of 42% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($X per ton), while Spain ($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 Netherlands (+22.4%), while the other leaders experienced more modest paces of growth.

Zirconium Imports

Imports in the EU

In 2022, supplies from abroad of zirconium was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 40%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, zirconium imports soared to $X in 2022. Over the period under review, imports continue to indicate prominent growth. The pace of growth appeared the most rapid in 2017 when imports increased by 42%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany was the largest importer of zirconium in the European Union, with the volume of imports finishing at X tons, which was approx. 43% of total imports in 2022. France (X tons) took the second position in the ranking, distantly followed by Belgium (X tons) and Italy (X tons). All these countries together held approx. 32% share of total imports. Hungary (X tons), Poland (X tons), the Czech Republic (X tons), Slovenia (X tons), Romania (X tons), Spain (X tons) and the Netherlands (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +65.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest zirconium importing markets in the European Union were France ($X), Germany ($X) and the Czech Republic ($X), together comprising 81% of total imports. Italy, Hungary, the Netherlands, Slovenia, Spain, Poland, Belgium and Romania lagged somewhat behind, together comprising a further 17%.

Poland, with a CAGR of +37.0%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the European Union stood at $X per ton in 2022, picking up by 14% against the previous year. In general, the import price showed a buoyant expansion. The most prominent rate of growth was recorded in 2020 when the import price increased by 54% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the import prices remained 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 the Czech Republic ($X per ton), while Belgium ($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 Netherlands (+23.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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