IMARC Group, a leading market research company, has recently releases report titled, “Hafnium Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” offers a comprehensive analysis of the industry, which comprises insights on global hafnium price. The global hafnium market size reached 78.8 Tons in 2022. Looking forward, IMARC Group expects the market to reach 113.7 Tons by 2028, exhibiting a growth rate (CAGR) of 6% during 2023-2028.
What is Hafnium?
Hafnium (Hf) represents a silvery gray, lustrous, and tetravalent transition metal that chemically resembles zirconium and is found in zirconium minerals. It is characterized by stability at room temperature, spontaneous combustion in air, and the ability to absorb hydrogen at high temperatures. The hafnium metal is an ideal neutron absorber, owing to its large cross-section and excellent welding and processing properties. It is also resistant to corrosion. Hafnium improves the creep ductility and rupture lifetime of nickel-based superalloys when used in relatively small amounts. It is utilized to fabricate integrated circuits at shorter feature sizes in semiconductor fabrication processes, as well as filaments and electrodes. Hafnium is combined with niobium, titanium, or tungsten in superalloys that can be extensively used across the aerospace and nuclear sectors.
Hafnium Market Trends and Drivers:
The increasing innovations and technological advancements in the aerospace manufacturing processes are among the key factors stimulating the hafnium market. Moreover, the growing utilization of Hf in the production of gas turbines, nuclear reactors, pressurized water reactors, semiconductors, etc., is acting as another significant growth-inducing factor. Besides this, the widespread adoption of hafnium oxide in optical coatings is positively influencing the global market.
Furthermore, extensive R&D activities conducted by key players are also propelling the market growth. Apart from this, the launch of favorable policies by government bodies across countries to promote hafnium applications is further augmenting the global market. Additionally, the effective allocation of resources and the inflating disposable income levels of individuals are anticipated to fuel the hafnium market over the forecasted period.
Hafnium Market Report Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- ACI Alloys
- Alkane Resources Ltd
- Allegheny Technologies Incorporated (ATI)
- American Elements
- Chemsavers Inc.
- China Nulear JingHuan Zirconium Industry Co. Ltd
- Framatome (Electricite de France S.A.)
- Lenntech B.V
- Nanjing Youtian Metal Technology Co. Ltd.
- Phelly Materials Inc. and Thermo Fisher Scientific Inc.
The report has been segmented the market into following categories:
Breakup by Type:
- Hafnium Metal
- Hafnium Oxide
- Hafnium Carbide
- Others
Breakup by Application:
- Super Alloy
- Optical Coating
- Nuclear
- Plasma Cutting
- Others
By Geography:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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