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

Report Code: PMI393420 | Publish Date: February 2024 | No. of Pages: 165

Global Hafnium Market By Type Overview

Introduction:

Hafnium Market was valued at US$ 88.7 Billion in 2024 and is projected to grow at a CAGR of 8.20% to reach US$ 182.4 Billion by 2034.

Hafnium is a chemical element with symbol Hf and atomic number 72. It’s a lustrous, silvery grey, a tetravalent transition metal. Hafnium chemically resembles zirconium and is found in many zirconium minerals.

Drivers and Restraints:

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

Segmentation:

The global hafnium market is segmented based on type, application, and region.

Based on type, the global hafnium market is segmented into hafnium oxide, hafnium carbide, and others (including hafnium metal). Based on the application, the target market is classified into the superalloy, optical coating, nuclear, plasma cutting, and others.

On the region, the global hafnium market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. 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. The U.S is one of the world's major nuclear power manufacturers. The U.S has 60 commercial nuclear power plants, with 98 nuclear reactors operating with a net capacity of 100,350 megawatts in 30 states. Moreover, the U.S is the largest producer of hafnium with more than 30 tons every year in 2019.

Key Players:   

The key players operating the global hafnium market ATI, ACI Alloy, Alkane Resources Ltd., American Elements, Baoji ChuangXin Metal Materials Co. Ltd (CXMET), China Nulear JingHuan Zirconium Industry Co. Ltd., Framatome (EDF), Nanjing Youtian Metal Technology Co. Ltd., and Phelly Materials Inc. Prominent players operating in the target market are focusing on strategic partnerships as well as the launching of the Types to gain a competitive edge in the target market. For instance, in January 2018, Areva announced the completion of the acquisition by EDF of a 75.5% stake in New NP capital.

Detailed Segmentation:

Global Hafnium Market, By Type:

  • Hafnium Oxide
  • Hafnium Carbide
  • Others (including Hafnium Metal)

Global Hafnium Market, By Application:

  • Super Alloy
  • Optical Coating
  • Nuclear
  • Plasma Cutting
  • Others

Global Hafnium Market, By Region:

      • North America
        • North America Hafnium Market, By Type
        • North America Hafnium Market, By Application
        • North America Hafnium Market, By Country
          • U.S.
          • Canada
      • Europe
        • Europe Hafnium Market, By Type
        • Europe Hafnium Market, By Application
        • Europe Hafnium Market, By Country
          • Germany
          • UK
          • France
          • Russia
          • Italy
          • Rest of Europe
      • Asia Pacific
        • Asia Pacific Hafnium Market, By Type
        • Asia Pacific Hafnium Market, By Application
        • Asia Pacific Hafnium Market, By Country
          • China
          • India
          • Japan
          • South Korea
          • Rest of Asia                                                                                                                                                                                                               
      • Latin America
        • Latin America Hafnium Market, By Type
        • Latin America Hafnium Market, By Application
        • Latin America Hafnium Market, By Country
          • Brazil
          • Mexico
          • Rest of Latin America
      • Middle East & Africa
        • Middle East & Africa Hafnium Market, By Type
        • Middle East & Africa Hafnium Market, By Application
        • Middle East & Africa Hafnium Market, By Country
          • GCC
          • Israel
          • South Africa
          • Rest of Middle East & Africa

Company Profile:

      • ATI
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Performance
        • Business Strategies
  • ACI Alloy
  • Alkane Resources Ltd.
  • American Elements
  • Baoji ChuangXin Metal Materials Co. Ltd (CXMET)
  • China Nulear JingHuan Zirconium Industry Co. Ltd.
  • Framatome (EDF)
  • Nanjing Youtian Metal Technology Co. Ltd.
  • Phelly Materials Inc.

“*” marked represents similar segmentation in other categories in the respective section

Key Issues Addressed

  • What is the total revenue potential of the global hafnium market?
  • How that market is expected to grow during the study period?
  • What are the major growth opportunities in the hafnium market?
  • Which companies are the major players in the global hafnium market?

Global Hafnium Market By Type Table of Contents

Research Objective and Assumption

  • Preface
  • Research Objectives
  • Study Scope
  • Years Considered for the study
  • Assumptions
  • Abbreviations

Research Methodology

  • Research data
  • Primary Data
    • Primary Interviews
    • Primary Breakdown
    • Key data from Primary Sources
    • Key Thickness Insights
  • Secondary Data
    • Major Secondary Sources
    • Secondary Sources
  • Market Estimation
  • Top-Down Approach
    • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
  • Bottom-Up Approach
    • Approach for estimating market share by Bottom-up Analysis (Demand Side)
  • Market Breakdown and Data Triangulation
  • Research Assumptions

Market Preview

  • Executive Summary
  • Key Findings—Global Outlook for medical carts Strategies
    • Key Questions this Study will Answer
    • Market Snippet, By Type
    • Market Snippet, By Application
    • Market Snippet, By Region
  • Opportunity Map Analysis
  • Executive Summary—3 Big Predictions

Market Dynamics, Regulations, and Trends Analysis

  • Market Dynamics
    • Drivers
    • Restrains
    • Market Opportunities
    • Market Trends
  • DR Impact Analysis
  • PEST Analysis
  • Porter’s Five Forces Analysis
  • Opportunity Orbit
  • Market Investment Feasibility Index
  • Macroeconomic Factor Analysis

Hafnium Market, By Type, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Hafnium Oxide
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Hafnium Carbide
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Others (including Hafnium Metal)
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Hafnium Market, By Application, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Super Alloy
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Optical Coating
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Nuclear
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Plasma Cutting
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Others
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Hafnium Market, By Region, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Regional Trends
  • North America
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • U.S.
      • Canada
  • Europe
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • UK
      • France
      • Germany
      • Russia
      • Italy
      • Rest of Europe
  • Asia Pacific
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • India
      • Japan
      • South Korea
      • China
      • Rest of Asia Pacific
  • Latin America
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East

Competitive Landscape

  • Heat Map Analysis
  • Market Presence and Specificity Analysis

Company Profiles

  • ACI Alloy
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Alkane Resources Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Baoji ChuangXin Metal Materials Co. Ltd (CXMET)
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • China Nulear JingHuan Zirconium Industry Co. Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Framatome (EDF)
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Nanjing Youtian Metal Technology Co. Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Phelly Materials Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies

The Last Word

  • Future Impact
  • About Us
  • Contact

FAQs

The global hafnium market is segmented based on type, application, and region.

Growing demand for hafnium in the aerospace industry as superalloy and in submarines as nuclear control rods

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.

Prominent players operating in the target market are focusing on strategic partnerships as well as the launching of the products to gain a competitive edge in the target market. For instance, in January 2018, Areva announced the completion of the acquisition by EDF of a 75.5% stake in New NP capital.