Hafnium Market Size, Trends & Forecast (2019 - 2025)
According to the Research Report, the Global Hafnium Market Size is expected to value USD xx Billion in 2019 and to Reach USD xx Billion USD by 2025 at a CAGR of xx% during the forecast period 2019 -2025.
Increasing applications of hafnium as a superalloy in the aerospace industry, primarily due to its high thermal stability in both compound and metallic forms, are driving the market, globally. Hafnium superalloys are primarily used in jet/rocket engines.
However, they also find applications across various types of aircraft (business and defense) and help in increasing fuel efficiency. For instance, hafnium constitutes about 10% of the composition in the niobium-based alloy used for rocket engine nozzles. It is considered irreplaceable in the MAR M 247 superalloy, used in the hot part of jet engines (turbine blades and vanes).
Hafnium’s stability and strength at high temperatures, in both metallic and compound forms, makes it ideal for several aerospace applications. It is generally used in the alloy form with several other metals, such as iron, niobium, tantalum, and titanium. Due to the stable GDP growth and strong passenger travel demand in the Middle Eastern and Asia-Pacific regions, the increase in the total demand for commercial aircraft is expected to increase over the next few years.
The growth in the commercial aerospace market is likely to lead to the development of new aircraft production programs in emerging countries, especially in China and the Middle East. The aircraft manufacturers are ramping up production capacities to support the high demand and suppliers are enhancing their potential to deliver efficient solutions. These factors are expected to drive the demand for hafnium globally.
Optical Coatings to Witness High Demand
Hafnium oxide, HfO2, also known as hafnia, has high-index and low-absorption properties, which makes it an excellent material for use in coatings for the near-UV (~250 nm) to IR (~10 μm) regions. Typically, dense layers of hafnium oxide with good hardness are deposited by electron-beam evaporation or sputtering. Hafnia is used in combination with silicon dioxide layers to produce coatings that are hard, dense, scratch-free, adherent, and have high laser damage thresholds. Its abrasion resistance also provides protection for metal mirror surfaces. Hafnia is an electrical insulator with a band gap of around 5.3 to 5.7 eV, which makes it suitable for use in optical coatings and advanced metal-oxide-semiconductor devices, and also as a high-κ dielectric in DRAM capacitors. Hafnium-based oxides are being increasingly used as a replacement for silicon oxide and a gate insulator in field-effect transistors, due to their high dielectric constant, which is 4–6 times higher than that of SiO2.
The United States to Witness High Demand
Owing to the increasing demand from nuclear reactors, the aerospace industry, industrial turbines, etc., the demand for hafnium has rapidly increased in the past few years. The United States is one of the largest producers of nuclear power in the world, with around 99 operating commercial nuclear reactors at 61 nuclear power plants in 30 states. In 2017, the nuclear share of total US electricity generating capacity was 9%, while the nuclear share of the world’s electricity generation was about 20%. With the high demand for electricity, few reactors are under construction; the consumption of hafnium in nuclear reactors is expected to increase during the forecast period. In addition, the demand for hafnium in aircraft manufacturing is increasing as the aircraft manufacturer is on the rise in the country. The US aerospace sector is the largest in the world, with a gross output value of USD 123.52 billion in 2016, according to the US Bureau of Economic Analysis (BEA). Therefore, the demand for hafnium is increasing in the country, and the supply of hafnium is sufficient to cater to the increasing demand in the country.
Key Developments in the Market
Jan 2018: AREVA SA, through its subsidiary AREVA NP, sold all of its shares in New NP to a consortium of acquirers consisting of the EDF group, Mitsubishi Heavy Industries (MHI), and Assystem.
Hafnium Market Report Summary
- Hafnium Market
- Study Period
AREVA SA, through its subsidiary AREVA NP, sold all of its shares in New NP to a consortium of acquirers consisting of the EDF group, Mitsubishi Heavy Industries (MHI), and Assystem.
Hafnium Market - By Region
- North America
- Latin America
- Middle East & Africa
Price analysis, production analysis, consumption analysis, latest trends and market dynamics
Reasons to Purchase the Report
To understand the impact of increasingly stringent regulations on the market.
Analyzing various perspectives of the market with the help of Porter’s Five Forces Analysis.
Identify the countries expected to witness the fastest growth during the forecast period.
Identify the latest developments, market shares, and strategies employed by the major market players.
3-month analyst support along with the Market Estimate sheet (in Excel).
Top Companies Covered in the Hafnium Market are:
- Framatome (EDF)
- Alkane Resources Ltd
- ACI Alloys
- American Elements
1.1 Scope of the Report
1.2 Study Assumptions
1.3 Study Deliverables
1.4 Research Phases
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Intensity of Competitive Rivalry
3.3 Price Analysis
4. Market Dynamics
4.1.1 Growing Demand from Aerospace Industry
5. Market Segmentation and Analysis
5.1 By Application
5.1.1 Super Alloy
5.1.2 Optical Coating
5.1.4 Plasma Cutting
5.2 By Type
5.2.1 Hafnium Oxide
5.2.2 Hafnium Carbide
5.2.3 Others (including Hafnium Metal)
6. Regional Market Analysis
6.1 Production Analysis
6.2 Consumption Analysis
6.2.1 United States
6.2.2 European Union
6.2.7 Rest of the World
7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & Services, Recent Developments)
8.2 ACI Alloy
8.3 Alkane Resources Ltd
8.4 American Elements
8.5 Baoji ChuangXin Metal Materials Co. Ltd (CXMET)
8.6 China Nulear JingHuan Zirconium Industry Co. Ltd.
8.7 Framatome (EDF)
8.8 Nanjing Youtian Metal Technology Co. Ltd
8.9 Phelly Materials Inc.
*List not Exhaustive