Hafnium Market - Forecast(2023 - 2028)

Report Code: CMR 76643 Report Format: PDF + Excel

Overview

Hafnium Market size is forecast to reach $83.5 million by 2025, after growing at a CAGR of 6.5% during the forecast period from 2020-2025. Increasing demand for hafnium in the aerospace industry as super alloy and in submarines as nuclear control rods, is expected to fuel the overall demand of hafnium in the forecast timeframe. Globally, demand for new aircraft is growing, and the aerospace industry strives to implement innovative solutions to increase production time and cost savings. Therefore, in terms of increasing fuel efficiency, hafnium superalloys are gaining popularity.

Hafnium is a chemical element with the symbol Hf and atomic number 72. A lustrous, silvery gray, tetravalent transition metal, hafnium chemically resembles zirconium and is found in zirconium minerals. 

Report Coverage

The report: “Hafnium Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Hafnium Industry.


Key Takeaways

  • North America dominates the hafnium market owing to increasing demand from applications such as aerospace and submarines.
  • The growing popularity of hafnium as superalloy in the aerospace industry due to its properties including high thermal stability and corrosion resistance.
  • Hafnium is extremely resistant to corrosion and an outstanding neutron absorber, enabling its use in nuclear submarines and control rods for nuclear reactor, a vital technology used to sustain fission reactions.
  • USA and France are the major hafnium producing countries with combined share of more than 85% globally in 2019.
  • India and China have some low-volume domestic hafnium production but are not exporting.

Hafnium Market Segment Analysis - By Application

Superalloy application segment has been the primary market for hafnium for many years. Hafnium is commonly alloyed with other metals including titanium, iron, niobium and tantalum. For example, in aerospace applications, such as space rocket engines, heat-resistant hafnium-niobium alloys are used. More than 40% of hafnium is manufactured through the Van Arkel process, which meets the bulk of Hf's demand for super alloys as very pure crystal bars.

Nuclear application is also expected to grow with more than above average growth rate. Metal hafnium is commonly used in the atomic energy industry because of its good nuclear quality. It has good performance in welding, storage efficiency, and performance of high resistance to temperature and corrosion. It can capture a large area of thermal neutrons as a neutron absorber and can be used to manufacture control rods and protective devices for nuclear reaction.

Hafnium Market Segment Analysis - By Geography

North America dominated the hafnium market with a share of approximately 30%, followed by Europe and APAC. Due to the growing demand from nuclear application, the aerospace industry, electronics, hafnium demand has increased rapidly over the past few years and is expected grow with same pace in coming years as well. The US is one of the world's largest nuclear power manufacturers. The US has 60 commercial nuclear power plants, with 98 nuclear reactors operating with a net capacity of 100,350 megawatts in 30 states. On the other hand, US is the largest producer of hafnium with more than 30 tons per annum in 2019.

Hafnium Market Drivers

·         Growing demand for aerospace industry

Hafnium is widely used in aerospace industry as super alloy due to its excellent properties. It can alloy with many other metals including titanium, iron, niobium and tantalum. For example, in aerospace applications, such as space rocket engines, heat-resistant hafnium-niobium alloys are used. Superalloy is the major application with more than 35% share in overall hafnium demand globally. Rising aerospace industry with adoption of technological advancements is further expected to enhance the demand of hafnium in aerospace and aviation industry.

·         Rising usage of hafnium oxide in optical coatings

Hafnium oxide is an effective optical coating material with a high refractive index and a wide are of low absorption from the near-UV (about 250 nm) to the mid-IR (beyond 12 ?m). According to IndustryARC expert insights, the global optical coatings market is expected to grow with more than 8% in the forecast timeframe 2020-2025. This will enhance the overall demand of hafnium in coming years.

Hafnium Market Challenges

·         Shutdown of nuclear plants

Nuclear is one of the major application of hafnium and shutting down of nuclear plants may hinder the overall growth of the market. Globally, total number of Operable Reactors stood at around 445 in 2019 which is declined from 450 in 2018. Most nations are phasing out their nuclear power, such as Belgium, Germany, Spain, and Switzerland. Globally, in recent years, more nuclear reactors have been shut than opened.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the hafnium market. In 2019, the market of hafnium has been consolidated by the top five players accounting for xx% of the share. Major players in the Hafnium Market are ATI, ACI Alloys, Alkane Resources Ltd., American Elements, Baoji ChuangXin Metal Materials Co. Ltd., China Nulear JingHuan Zirconium Industry Co. Ltd., Framatome, Nanjing Youtian Metal Technology Co. Ltd., Phelly Materials Inc., among others.

Acquisitions/Technology Launches

  • In 2017, Westinghouse Electric Company and its Chinese joint venture partner, State Nuclear Baoti Zirconium Industry, LTD. (SNZ), commenced a new production facility for zirconium sponge, State Nuclear WEC Zirconium Hafnium Co., Ltd. (SNWZH), in Nantong, China.

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1. Hafnium Market - Overview
        1.1 Definitions and Scope
2. Hafnium Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Hafnium Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Hafnium Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Hafnium Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Hafnium Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Hafnium Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Hafnium Market - By Product Type (Market Size -$Million / $Billion)
9. Hafnium Market - By Type (Market Size -$Million / $Billion)
        9.1 Hafnium Oxide
        9.2 Hafnium Carbide
10. Hafnium - By Application (Market Size -$Million / $Billion)
        10.1 Segment type Size and Market Share Analysis
        10.2 Application Revenue and Trends by type of Application
        10.3 Application Segment Analysis by Type
10.3.1 Plasma Cutting
10.3.2 Nuclear
10.3.3 Optical Coating
10.3.4 Super Alloy
11. Hafnium- By Geography (Market Size -$Million / $Billion)
        11.1 Hafnium Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 Hafnium- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 Hafnium- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 Hafnium - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong kong
                  11.8.5.9 Rest of APAC
        11.9 Hafnium - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. Hafnium Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Hafnium Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at a global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Hafnium Market - Key Company List by Country Premium
15. Hafnium Market Company Analysis
        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 Aci Alloy
        15.3 Alkane Resource Ltd
        15.4 American Element
        15.5 Ati
        15.6 Baoji Chuangxin Metal Material Co. Ltd
        15.7 Framatome
        15.8 Nanjing Youtian Metal Technology Co. Ltd
        15.9 Nulear Jinghuan Zirconium Industry Co Ltd
        15.10 Phelly Material Inc
        15.11 Company 10
        15.12 Company 11 & More
*Financials would be provided on a best efforts basis for private companies
16. Hafnium Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Hafnium Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends