Europe: Zirconium Market 2024

Zirconium Market Size in Europe

The Europe zirconium market stood at $X in 2022, with an increase of 3.3% against the previous year. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Zirconium Production in Europe

In value terms, zirconium production rose rapidly to $X in 2022 estimated in export price. The total production indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.6% 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 -5.1% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 56%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Zirconium Exports

Exports in Europe

In 2022, approx. X tons of zirconium were exported in Europe; declining by -22.4% on the previous year. Overall, exports continue to indicate a perceptible curtailment. The pace of growth appeared the most rapid in 2015 with an increase of 45%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, zirconium exports shrank to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 28%. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Germany represented the major exporting country with an export of around X tons, which reached 72% of total exports. Spain (X tons) held the second position in the ranking, distantly followed by the Netherlands (X tons). All these countries together held near 23% share of total exports. Italy (X tons) and the UK (X tons) held a little 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 Europe, with a CAGR of +173.9% from 2012-2022. By contrast, the UK (-16.1%) and Italy (-17.0%) illustrated a downward trend over the same period. Germany (+29 p.p.), Spain (+17 p.p.) and the Netherlands (+5.6 p.p.) significantly strengthened its position in terms of the total exports, while the UK and Italy saw its share reduced by -5.3% and -12.4% from 2012 to 2022, respectively.

In value terms, Germany ($X) remains the largest zirconium supplier in Europe, comprising 85% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 5.5% share of total exports. It was followed by Spain, with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Germany totaled +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

The export price in Europe stood at $X per ton in 2022, surging by 12% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2020 an increase of 42% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the UK ($X per ton), while Spain ($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 Europe

After two years of decline, purchases abroad of zirconium increased by 9.2% to X tons in 2022. Over the period under review, imports, however, recorded a noticeable contraction. The pace of growth appeared the most rapid in 2017 when imports increased by 36% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, zirconium imports skyrocketed to $X in 2022. Total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -14.2% against 2020 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 52% against the previous year. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X tons), distantly followed by Russia (X tons), the UK (X tons) and France (X tons) were the main importers of zirconium, together comprising 76% of total imports. The following importers - Belgium (X tons), Italy (X tons), Hungary (X tons), Poland (X tons), the Czech Republic (X tons), Slovenia (X tons), Switzerland (X tons) and Romania (X tons) - together made up 20% of total imports.

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, Russia ($X), France ($X) and Germany ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 66% share of total imports. The UK, the Czech Republic, Italy, Hungary, Switzerland, Slovenia, Poland, Belgium and Romania lagged somewhat behind, together accounting for a further 30%.

Poland, with a CAGR of +37.0%, saw the highest growth rate of the value of imports, in terms of 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 Europe stood at $X per ton in 2022, with an increase of 10% against the previous year. Import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +6.4% 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 -3.3% against 2020 indices. The most prominent rate of growth was recorded in 2020 an increase of 44%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the 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 ($X per ton), while Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+19.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform