Global Hafnium Market - Segmented By Type, Application, and Geography – Growth, Trends, and Forecasts (2017 - 2022)
Breaking News: In Aug 2016, Leading Edge Materials Corp. merged with Tasman, whereby, the company acquired all the outstanding shares of Tasman and changed its name to Leading Edge Materials Corp., through a statutory plan of arrangement.
The global hafnium market consumption is expected to value 69.5 metric tons in 2017 and reach 122 metric tons by 2022, registering a CAGR of 11.91% during 2017-2022 (the forecast period).Hafnium is a silvery, metallic element separated from ores of zirconium and used in nuclear reactor control rods, as a getter for oxygen, and nitrogen, and in tungsten filament alloys. Hafnium exists in a ratio of about 1:50 to zirconium, in its ore. It is produced as a by-product during the purification process of zirconium.
The manufacturing process for hafnium is continuous and includes the following steps:
Crushing & milling of ores, roasting with addition of acid (sulphuric acid), leaching & CCD wash, solvent extraction, Zirconium & Hafnium refining and lastly, dryer to hafnium by-product.Manufactured hafnium has high thermal resistance, which makes it suitable for a variety of applications such as super alloy in jet engines for aircraft, and industrial turbines. Moreover, the produced pure hafnium metal rods are used as neutron absorbs in nuclear reactors.This market is driven by many factors, such as growing demand from aerospace industry and gas turbines, increasing use in nuclear applications, semiconductors industry and photographic applications. However, shutting down of the nuclear reactors, overexposure causing health disorders such as irritation of eyes, mucous membrane and skin, and limited availability makes the consumers rely on other substitute’s products, thus, decelerating the market growth.The global hafnium market has been segmented on the basis of type, and application. Based on type, the market has been segmented into hafnium oxide, hafnium carbide, and others. Based on application, the market has been segmented into super alloys, optical coatings, nuclear, plasma cutting, and others; moreover, based on consumption, super alloy is expected to account for the highest market share, during 2017-2022 (the forecast period).Geographically, based on production and consumption analysis, the market is segmented into France, the United States, China, and rest of the world. France is expected to remain the largest country in terms of production and experience the highest growth, during 2017-2022 (the forecast period), owing to its annual supply capacity of about 25 tons, globally.The consumption analysis segment includes China, the United States, Japan, India, Russia, European Union and rest of the world. China is expected to remain the largest country in terms of consumption and experience the highest growth, during 2017-2022 (the forecast period), owing to the increasing consumption of hafnium in the country.
Opportunities and Major Players:The increasing use of hafnium, as super alloy in gas turbines and in mining industry, is expected to offer numerous opportunities for the growth of the global hafnium market.
Major Companies and Vendors in the Market Include:
• Nanjing Youtian Metal Technology Co. Ltd.
• Alkane Resources
• China Nulear Jinghuan Zirconium Industry Co., Ltd.
• Shenzhen Xinxing Metal Technology Co., Ltd.
Key Deliverables in the Study
• Market analysis for the global hafnium market, with region-specific assessments and competition analysis on a global and regional scale
• Market definition, along with the identification of factors instrumental in changing the market scenario and prospective opportunities
• Extensively researched competitive landscape section with profiles of major companies, along with their market share
• Identification and analysis of the macro and micro factors that affect the global hafnium market on, both, global and regional scale
• A comprehensive list of key market players, along with the analysis of their current strategic interests and key financial information
• Insights on the major countries/regions where this industry is growing and identify the regions that are still untapped