Hafnium Market worth US$ 182.4 Million Tons by 2034 with a CAGR of 8.2%

Growing demand for hafnium in the aerospace industry as superalloy and in submarines as nuclear control rods is a major factor driving the growth of the hafnium market. Additionally, demand for new aircraft is increasing globally, and the aerospace industry endeavours to implement innovative types to increase production cost and time. Thus, in terms of growing fuel efficiency, hafnium superalloys are gaining popularity. Moreover, the growing usage of hafnium oxide in optical coatings is expected to boost the growth of the target market over the forecast period. Hafnium oxide is an effective optical coating material with a high refractive index of low absorption from the near-UV (about 250 nm) to the mid-IR (beyond 12 μm).

The report "Hafnium Market, By Type (Hafnium Oxide, Hafnium Carbide, and Others (including Hafnium Metal), By Application (Super Alloy, Optical Coating, Nuclear, Plasma Cutting, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034.

Key Highlights:

• In January 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.

Key Market Insights from the report:          

Hafnium Market was valued at US$ 88.7 Million Tons in 2024 and is projected to grow at a CAGR of 8.20% to reach US$ 182.4 Million Tons by 2034. The market report has been segmented based on type, application, and region.

• By type, other types segment (including hafnium metal) dominated the target market in 2018, and it is expected to witness the highest CAGR over the forecast period. This is mainly attributed due to growing application base for various hafnium products is expected to provide numerous opportunities, over the forecast period.
• By application, Superalloy application segment has been dominating the target market for many years. Hafnium is commonly alloyed with other metals including iron, titanium, tantalum and niobium.
• By region, North America dominated the hafnium market with a share of around 30%, followed by Europe and APAC. Due to the growing demand from the aerospace industry, nuclear application, electronics, hafnium demand has grown rapidly over the past few years and is anticipated to grow with the same pace over the forecast period.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Hafnium Market”, Type (Hafnium Oxide, Hafnium Carbide, and Others (including Hafnium Metal), By Application (Super Alloy, Optical Coating, Nuclear, Plasma Cutting, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030

The prominent player operating in the hafnium market includes Alteryx Inc., Fair, Isaac, and Company (FICO), IBM Corporation, SAS Institute Inc., Tibco Software, Micro Strategy Incorporated, Amazon Inc. (AWS), Microsoft Corporation, Salesforce.com Inc. (Tableau Software Inc.), and QLIK Tech International.

About Prophecy Market Insights

Prophecy Market Insights is specialized market research, analytics, marketing/business strategy, and solutions development company which offers strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high-value opportunities in the target business area. We also help our clients to address business challenges and provide the best possible solutions to overcome them and transform their business.

Contact Us:

Sales

Prophecy Market Insights

1 860 531 2574

Email- sales@prophecymarketinsights.com

Website- www.prophecymarketinsights.com

Blog- www.prophecyjournals.com