Ascend popular for zirconium mixes in a wide scope of ventures, for example, earthenware production, restorative, medicinal services, and development, because of its phenomenal exhibition qualities is foreseen to drive the zirconium phosphate showcase. Be that as it may, unpredictability in costs of crude materials of zinc phosphate is evaluated to hamper the worldwide zirconium phosphate advertise during the gauge time frame.
Global Zirconium Phosphate Market: Segmentation
The global zirconium phosphate market can be segmented based on grade, application, and region. In terms of grade, the market can be bifurcated into >95% purity and ≥ 99% purity. Based on application, the global market can be divided into drug delivery, catalysis, ion exchange material, and others (including nanocomposites and nuclear waste management). The drug delivery segment is anticipated to expand at a significant pace during the forecast period. Increase in incidence of various diseases is one of the key factors fueling the demand for drug delivery products in the pharmaceutical industry. High demand for drug delivery products and rise in research and development activities are likely to lead to innovation of new and advanced products. This is projected to boost the drug delivery segment of the zirconium phosphate market in the near future. The ion exchange material segment is estimated to expand at a substantial pace during the forecast period owing to its increasing popularity in end use industries.
Global Zirconium Phosphate Market: Regional Outlook
In terms of region, the global zirconium phosphate market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Demand for zirconium phosphate is expected to rise significantly in emerging economies such as China and India. Rapid growth of the health care sector in economies supported by private and public investments and increase in disposable income are augmenting the demand for pharmaceutical products and medical services. This, in turn, is anticipated to fuel the demand for zirconium phosphate during the forecast period. The market in North America and Europe is estimated to expand at substantial pace during the forecast period owing to the well-developed pharmaceutical and health care industries in these regions. However, the zirconium phosphate market in Latin America and Middle East & Africa is projected to expand at sluggish pace in the near future due to the lack of established end-use industries in the regions.
Global Zirconium Phosphate Market: Competitive Landscape
The global zirconium phosphate market is fragmented with the presence of local unorganized and global players. Key players operating in the global market are investing in research & development activities to gain competitive advantage through innovative application of products in various industries. Prominent players functioning in the global zirconium phosphate market include American Element, Hongkong XinRunde Chemical Co., Ltd., ZIRCOMET LIMITED, ZIRCONIUM CHEMICALS PVT. LTD., and Zhejiang NetSun Co., Ltd.