The report “GLOBAL HAFNIUM MARKET SEGMENTED BY TYPE, APPLICATION TYPE, GEOGRAPHY (ASIA PACIFIC, NORTH AMERICA, EUROPE, MIDDLE EAST & AFRICA, SOUTH AMERICA), MARKET ESTIMATION AND FORECAST (2018-2024)”.
The global hafnium market is estimated to grow 139.5 Metric tons by 2024 from 69.6 Metric tons Million in 2017, growing at a CAGR 11.95% from 2018 to 2024.Hafnium is a silvery, metallic element separated from ores of Zirconium. These two metals are difficult to separate because of their chemical similarities.
The only difference between hafnium and zirconium is their density. Hafnium has twice the density of zirconium.
Hafnium holds eminent chemical properties and resistant to oxidation.
Hafnium is used in nuclear reactor control roads.
Hafnium oxide is estimated to have the huge demand in the Hafnium market
On the basis of type, hafnium market is segmented as hafnium oxide and hafnium carbide. In these, hafnium oxide have the huge demand during the forecast period owing to have the more usage in the aerospace and gas turbines industries.
Enhance in usage of hafnium in nuclear, semiconductors and photographic applications are having potential towards the huge demand in the forecast period.
Super alloy is estimated to have huge demand by 2024
On the basis of application, hafnium market is sectioned as optical coating, nuclear, plasma cutting and super alloy. Among these, super alloy is estimated to expand a huge market growth in the forecast period.
Hafnium is present in alloys with titanium, iron and others. Adherence of protective scales in nickel-based alloys increases when addition of hafnium in less quantities.
The super alloy segment was followed by nuclear segment market share owing to have mechanical and corrosion resistance properties.
Europe is estimated to have a huge demand by 2024
Europe held a largest share of market in 2017 and is expected to provide lubricating properties during the forecast period. France held a leading share in the European region in terms of production and consumption.
Europe was followed by North America and Asia Pacific in the market share. In the mining and aerospace industries, the usage of hafnium as super alloys is the key factor driving in the market share.
In Asia Pacific the usage of hafnium in the plasma cutting and semiconductor manufacturing’s are crucial factors in the market growth.
Some of the key vendors of global hafnium market is ATI (India), Alkane resources (Australia), Nanjing youtain Metal technology (Japan), China Nuclear Jinghuan Zirconium Industry Co., Ltd (China), Phelly Materials Inc. (U.S.A), Aci Alloys Inc. (U.S.A).
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