Italy: Zirconium Market 2024

Zirconium Market Size in Italy

In 2022, after three years of decline, there was significant growth in the Italian zirconium market, when its value increased by 120% to $X. Over the period under review, consumption saw a temperate expansion. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Zirconium Production in Italy

In value terms, zirconium production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, saw a abrupt setback. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Zirconium Exports

Exports from Italy

In 2022, after three years of growth, there was significant decline in overseas shipments of zirconium, when their volume decreased by -43.6% to X tons. Overall, exports saw a deep contraction. The growth pace was the most rapid in 2017 when exports increased by 19,341% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, zirconium exports dropped rapidly to $X in 2022. Over the period under review, exports showed a slight downturn. The pace of growth appeared the most rapid in 2017 with an increase of 3,101%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Spain (X tons) was the main destination for zirconium exports from Italy, accounting for a 76% share of total exports. Moreover, zirconium exports to Spain exceeded the volume sent to the second major destination, Romania (X kg), eightfold. France (X kg) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2022, the average annual growth rate of volume to Spain amounted to +6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+68.2% per year) and France (+28.4% per year).

In value terms, Spain ($X) emerged as the key foreign market for zirconium exports from Italy, comprising 85% of total exports. The second position in the ranking was taken by France ($X), with an 11% share of total exports. It was followed by Romania, with a 1.2% share.

From 2012 to 2022, the average annual growth rate of value to Spain stood at +11.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+28.1% per year) and Romania (+42.2% per year).

Export Prices by Country

In 2022, the average zirconium export price amounted to $X per ton, with an increase of 41% against the previous year. Overall, the export price continues to indicate strong growth. The growth pace was the most rapid in 2019 when the average export price increased by 154%. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Romania ($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 the United States (+16.1%), while the prices for the other major destinations experienced mixed trend patterns.

Zirconium Imports

Imports into Italy

In 2022, overseas purchases of zirconium were finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. In general, imports, however, recorded a deep setback. The pace of growth was the most pronounced in 2017 when imports increased by 93% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, zirconium imports shrank to $X in 2022. Over the period under review, imports posted a moderate expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 70% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of zirconium to Italy, with a 67% share of total imports. Moreover, zirconium imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. France (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at -12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+17.1% per year) and France (-6.7% per year).

In value terms, China ($X), South Korea ($X) and Germany ($X) constituted the largest zirconium suppliers to Italy, together accounting for 80% of total imports.

Among the main suppliers, China, with a CAGR of +31.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average zirconium import price stood at $X per ton in 2022, declining by -10.5% against the previous year. Overall, the import price, however, showed buoyant growth. The growth pace was the most rapid in 2020 an increase of 103%. Over the period under review, average import prices reached the peak figure at $X per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+38.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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