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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1.1 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 / $Billion)
9.2 Hafnium Carbide
10. Hafnium - By Application (Market Size -$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
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
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