United Kingdom: Zirconium Market 2024

Zirconium Market Size in the UK

In 2022, the UK zirconium market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, continues to indicate a noticeable downturn. Zirconium consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Zirconium Production in the UK

In value terms, zirconium production reached $X in 2022 estimated in export price. Over the period under review, the total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% 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 -1.3% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 24%. Zirconium production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Zirconium Exports

Exports from the UK

In 2022, exports of zirconium from the UK skyrocketed to X tons, increasing by 57% against 2021 figures. Over the period under review, exports, however, saw a deep reduction. The most prominent rate of growth was recorded in 2015 when exports increased by 288%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, zirconium exports rose modestly to $X in 2022. Overall, exports, however, saw a pronounced decrease. The growth pace was the most rapid in 2015 when exports increased by 83%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for zirconium exports from the UK, with a 62% share of total exports. Moreover, zirconium exports to the Netherlands exceeded the volume sent to the second major destination, the United States (X kg), threefold. The third position in this ranking was held by India (X kg), with a 9.6% share.

From 2012 to 2022, the average annual growth rate of volume to the Netherlands amounted to +86.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+23.7% per year) and India (-17.9% per year).

In value terms, the Netherlands ($X) remains the key foreign market for zirconium exports from the UK, comprising 38% of total exports. The second position in the ranking was held by India ($X), with a 17% share of total exports. It was followed by Portugal, with a 16% share.

From 2012 to 2022, the average annual growth rate of value to the Netherlands stood at +76.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+1.5% per year) and Portugal (+34.4% per year).

Export Prices by Country

The average zirconium export price stood at $X per ton in 2022, shrinking by -34.4% against the previous year. Overall, the export price, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2016 an increase of 244% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then dropped rapidly in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Portugal ($X per ton), while the average price for exports to the Netherlands ($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 China (+165.3%), while the prices for the other major destinations experienced more modest paces of growth.

Zirconium Imports

Imports into the UK

In 2022, after two years of decline, there was significant growth in supplies from abroad of zirconium, when their volume increased by 32% to X tons. In general, imports, however, continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of 81% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, zirconium imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2019 when imports increased by 80%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest zirconium supplier to the UK, accounting for a 67% share of total imports. Moreover, zirconium imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was held by France (X tons), with an 8.3% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at -11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.7% per year) and France (-14.1% per year).

In value terms, the United States ($X) constituted the largest supplier of zirconium to the UK, comprising 62% of total imports. The second position in the ranking was held by Germany ($X), with a 20% share of total imports. It was followed by France, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled -6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.2% per year) and France (-14.4% per year).

Import Prices by Country

The average zirconium import price stood at $X per ton in 2022, growing by 20% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.4% 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 -12.9% against 2018 indices. The growth pace was the most rapid in 2013 when the average import price increased by 24% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for the United States ($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 United States (+6.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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