Materials & Chemicals / Hafnium Market Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions And By Key Players - Alkane Resources, Orano, ATI, CNNC Jinghuan
Hafnium Market Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players - Alkane Resources, Orano, ATI, CNNC Jinghuan
The global Hafnium Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 7.0% during the review period (2022 to 2027)
Hafnium Market Overview
Hafnium is a chemical component with the symbol Hf and atomic number 72. A lustrous, silvery gray, tetravalent transition metallic, hafnium chemically resembles zirconium and is initiate in zirconium minerals. The physical assets of hafnium are markedly hampered by the zirconium impurities, as these metals are hard to separate due to their chemical similarity. The extreme notable difference between hafnium and zirconium is their density, as hafnium has twice the density of zirconium. Hafnium possesses excellent chemical possessions and is resistant to chemicals and oxidation. The metal is even resistant to concentrated alkalis. The usage of hafnium-free zirconium in nuclear reactors in the late 1950s made hafnium easily accessible. But, the rarity of hafnium and difficult and exclusive separation techniques make it a scarce commodity. In zirconium ore, hafnium exists in a ratio of 2:00 to zirconium. Hafnium is produced as a byproduct during the cleansing of zirconium. Obtained hafnium has high thermal resistance, which makes it useful in several applications such as super alloys in business turbines and jet engines for aircraft. The hafnium market is anticipated to increase at a moderate progress rate during the forecast period due to the difficult and expensive separation procedure. There are several driving factors of this market such as increasing demand for super alloys for applications in gas turbines and the aerospace industry. Rising usage of hafnium in nuclear, photographic, and semiconductors applications are likely to present potential opportunities for the hafnium market during the forecast period.
Industry News:
29 Septembe r 2017Most people in developed nations have no idea how much the technology they use everyday depends on Hafnium, nor how access to this minor but critical element will shape future world economics and politics.
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.
What are the major Applications, Types and Regions for Hafnium Market?
By Type, it is segmented into
Hafnium Sponge
Hafnium Crystal Bar
Others
By Applications it is segmented into
Super Alloy
Nuclear
Plasma Cutting
Others
Hafnium Market Regional Analysis
In China, hafnium is consumed in the form of sponge, alloys, etc., in the nuclear reactors, aerospace, industrial turbines, and other industries. China is one of the major consumers of hafnium in nuclear reactors, as it has 36 working nuclear power plants. The country has 21 under construction plants, which may increase the consumption of hafnium, over forecast period.
In China, hafnium is consumed in the form of sponge, alloys, etc., in the nuclear reactors, aerospace, industrial turbines, and other businesses.
China is one of the key consumers of hafnium in nuclear reactors, as it has 36 working nuclear power plants. The country has 21 under construction plants, which may progress the consumption of hafnium, over forecast period.
Furthermore, China is planning to double the nuclear capacity to around 58 Gwe, by 2022, and gradually reach 150 GWe, between 2030 and 2050. This, in turn, is expected to increase the consumption of hafnium in the country.
With the rise in demand, companies are also growing their supply. For instance, Westinghouse Electric UK Holdings Limited is producing high-quality nuclear-grade hafnium oxides, sponge, etc., which are suitable for nuclear reactor applications.
The China’s aircraft and spacecraft business has depicted significant progress over the years. According to the Boeing's market outlook report, released in China this year, shows that China is likely to need 6,810 new aircraft in the next 20 years, with a total value of 1.025 trillion US dollars, owing to the increasing passenger throughput.
China's current core military aircraft production bases contain Xi'an, Shaanxi, Chengdu, Shenyang, and Guizhou Aircraft Manufacturing Plant. Among the five major aircraft manufacturers, Xifei and Shaanxi have the major number of aircraft models and the largest number, accounting for 40% of military aircraft.
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Rest of the World
Middle East & Africa
Latin America
The Hafnium Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Hafnium Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
What is our Hafnium Market Report Scope?
Report Attributes
Report Details
Forecast Period 2022 to 2027 CAGR
CAGR of 7.0% during the review period (2022 to 2027).
By Type
Hafnium Sponge
Hafnium Crystal Bar
Others
By Application
Super Alloy
Nuclear
Plasma Cutting
Others
By Companies
Alkane Resources, Orano, ATI, CNNC Jinghuan, Nanjing Youtian Metal Technology
Regions Covered
North America
Europe
Asia-Pacific
Rest of the World
Countries Covered
US
Canada
Germany
France
UK
Italy
Spain
Rest of Europe
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East & Africa
Latin America
Base Year
2022
Historical Year
2017 to 2021
Forecast Year
2022 to 2027
Number of Pages
90
Customization Available
Yes, the report can be customized as per your needs
Key Takeaways from this Hafnium Report
Evaluate Hafnium market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.
Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.
Analyze the sales and distribution channels across geographies to enhance top-line revenues.
Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
Get a quick outlook on the Hafnium market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.
FAQ -
What is the study period of this market?
The Hafnium Market is studied from 2017 - 2027.
What is the growth rate of Hafnium Market?
The Hafnium Market is growing at a CAGR of 7.0% over the next 5 years.
What regions does this Hafnium Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
SECONDARY RESEARCH Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.