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Zirconium nitride, also known as nitridozirconium, is an inorganic compound used in a variety of ways due to its properties. Its chemical formula is ZrN. The compound can be obtained through physical vapor deposition (PVD). Zirconium nitride is a light gold similar to elemental gold. Its room temperature electric resistivity is 12 micro ohm centimeter. It has high melting point i.e. 2,980°C. The hardness of a single crystal of zirconium nitride is between 21.0 GPa and 24.4 GPa. Its elastic modulus is 450 GPa (giga pascal). Zirconium nitride is a hard ceramic material, which is similar to titanium nitride. Zirconium nitride is also similar to cement as a refractory material. Due to its properties, it is employed in refractories, cermets, and laboratory crucibles. Zirconium nitride is commonly used for coating industrial drill bits, automotive and aerospace components, and medical devices that are subjected to high wear and corrosive environments. Zirconium nitride coatings are deposited by using the physical vapor deposition process. After deposition, it takes the form of yellow crystalline powder or an attractive, pale-golden-colored coating. Tools coated with zirconium nitride are suitable for non-ferrous metal applications such as machining of aluminum alloys, copper alloys such as brass, and titanium. Zirconium nitride has been suggested as a liner for hydrogen peroxide fuel tanks for rockets and aircrafts. Increasing industrial activities, especially in Asia Pacific, are projected to be a major driver for the zirconium nitride market during forecast period. However, the availability of substitutes and risks associated with the transportation of zirconium nitride may hamper the overall growth of the market in the near future.

Based on application, the zirconium nitride market has been segmented into industrial cutting tools, automotive, medical devices, aerospace, and others (including refractories). Industrial cutting tools was a major segment of the market in 2016. However, the automotive segment is anticipated to register a higher CAGR than other application segments during the forecast period. Increasing use of automobiles in emerging economies such as India and China and excellent corrosion resistance of zirconium nitride are factors anticipated to drive the market during the forecast period. The industrial cutting tools segment is anticipated to continue to dominate the market during the forecast period. Tooling is required on a constant basis for different applications such as metal cutting, milling, and drilling. In order to avoid wear and tear of cutting tools and increase their life, coating is applied. This is the key factor expected to drive the industrial cutting tools segment during the forecast period.

Asia Pacific held a major share of the global zirconium nitride market in 2016 and the trend is anticipated to continue during the forecast period.  Countries in Asia Pacific such as India and China have become large hubs for a majority of the industries. Increasing use of automobiles in the region and the ‘Make in India’ industrial development program undertaken by the government of India to enhance the growth of small & medium enterprises (SMEs) are the major factors likely to drive the market for zirconium nitride during the forecast period. The market in Asia Pacific is anticipated to witness significant growth during the forecast period, owing to increase in manufacturing activities in sectors such as automobile, aerospace, and medical devices in the region. The markets in Europe and Latin America are likely to witness sluggish growth during the forecast period. Gloomy economic conditions in these regions have hindered the overall growth of manufacturing activities. This, in turn, is projected to negatively affect the zirconium nitride market in the two regions during the forecast period.

The global zirconium nitride market is highly consolidated with a few players operating in the market. Key players operating in the market include Reade Advanced Materials, Armor Coated Technology, Richter Precision Inc., Five Star Fabrication Inc., and H.C. Starck.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Zirconium Nitride Market

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