Product Code: ETC092443 | Publication Date: Jul 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
The India copper chromium zirconium market import shipment experienced a significant decline in CAGR from 2020 to 2024 at -14.6%. However, there was a notable surge in growth between 2023 and 2024, with a 35.6% increase. Despite the overall slowdown, the market showed signs of recovery and regained momentum towards the end of the period.
The copper chromium zirconium market in India is expected to grow significantly over the upcoming years, driven by increasing demand for this alloy in a wide range of applications such as aerospace and defense, automotive, building and construction, electrical and electronics.
The increasing demand for copper chromium zirconium (CCZ) products in the automotive, architectural and industrial sectors is a major factor driving growth of the global copper chromium zirconium market. The properties of CCZ such as high corrosion resistance, good thermal conductivity and ability to withstand extreme temperature are boosting its application in these sectors. Furthermore, government initiatives towards encouraging use of eco-friendly materials due to stringent environmental regulations coupled with rising awareness regarding use of non-toxic material across various industries is another factor propelling growth of the target market.
High cost associated with CCZ products and fluctuating prices of raw materials may impede growth of the global copper chromium zirconium market over forecast period. In addition, availability issues related to rare earth elements used in manufacturing process can hinder growth prospects for this type of metals globally. Moreover, lack or inadequate regulation on mining operations could also limit production levels thus hampering development Outlook for this industry.
Major players operating in the India copper chromium zirconium market include Bharat Heavy Electricals Limited (BHEL), Hindalco Industries Limited (HIL), Jindal Poly Investment & Finance Company Limited (JPIFCL), GMMCO Limited, Caparo Engineering India Pvt Ltd., Suvin Advisors Pvt. Ltd., The TATA Power Co. Ltd., Godrej & Boyce Mfg. Co. Ltd., Essar Steel India Private Ltd., Gagan Ferrotech Pvt.Ltd., Jyoti Structures Ltd and Tata Metaliks Di Pipes Limited (TMDPL).