- Hafnium metal
- Hafnium oxide
- Hafnium carbide
- Others
Hafnium Market size was valued at USD 89.7 million in 2023 and is poised to grow at a CAGR of 7.4% over 2024-2030. Hafnium is a bright, silver-grey coloured, lustrous metal comparable to Zirconium. Hafnium is very ductile and has a very high melting and boiling temperature making them suitable to use in construction materials. The physical property of its ability to absorb neutrons is used in nuclear power plants to control the nuclear fission reactions to generate electricity. Thus, it is used in control rods that control how fast a fission reaction takes place. They do not readily react with acids and alkalis. It does not combine easily with oxygen in the air or water, thus used in many inflation systems because it can remove unwanted gases such as oxygen and nitrogen from the systems and has strong anti-volatility, making it suitable for use in hydraulic oil for prevention oil volatilization of hydraulic oil during high-risk operations.
According to an article 2023, robust demand for hafnium from the aerospace and electronics industries accelerated after the COVID restriction removal. Hafnium does not exist as a free element; it is always found in combination with zirconium in rocks at concentrations of up to 5%. Hafnium usage in nuclear submarines, microchips, jet and rocket engines, welding, and photographic and semi-conductor applications has created lucrative opportunities for the hafnium market during the forecast period. However, Hafnium is always found in combination with Zirconium, the separation of those two is very difficult because of their chemical similarity and also very costly, the current price being $4,933.70 per kg, thus decreasing the market value slightly. However, owing to the rising importance of control rods, superalloys and catalysts in many industries, the demand for the hafnium market is expected to grow during the forecast period.
Hafnium Market Key Developments:
Hafnium Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
7.4%
Largest Market
North America
Fastest Growing Market
North America
Hafnium Market Dynamics
The market is expected to rise due to demand from the aerospace industry have been increased. Hafnium is used in gas turbines for its high temperature stability and resistance to corrosion. It is also used in rocket nozzles, heat shields and other critical component in space industry. The primary use of super alloys in aerospace for the turbines, blades and vanes. More than half of hafnium’s yearly production goes in this sector and it is predicted to double over in the upcoming years. Hafnium is also used in polymerization, and plasma welding. The increasing demand for air travel by increased population, increased research in space organizations and space missions, development in nuclear weapons and missiles and advancement in aircrafts, spacecraft, launch vehicles and satellites are leading to growth of the market over the forecasted period.
North America Got Significant Share
Hafnium Market Regional Analysis
Hafnium market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America Hafnium market is currently leading the market owing to the presence of a strong manufacturing sector, increased investments and research in aerospace and submarine technology also this region operates a large number of nuclear power plants that accounts for the production of hafnium in large quantity. Europe has also accounted for a significant market share in 2022 and is also expected to increase during the forecasted period. France is the major producer of hafnium and is expected to hold a major share of the European hafnium market. Asia Pacific is expected to dominate the market owing to the lucrative market region, rapidly developing infrastructure, increasing population, and increase in end-user industries like China, Japan, and India. China is expected to dominate the market since it currently produces 75% of the world’s zirconium supply, which is the source of hafnium.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The report provides granular level information about the market size, regional market share, historic market (2019 -2023) and forecast (2024-2030)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments, and start-up details that are actively working in the market
- The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Hafnium Market Segmentation
By Type
By Application
- Superalloy
- Nuclear
- Optical coating
- Plasma cutting/welding
- Catalyst
- Others
By End-User Industry
- Electronics
- Nuclear
- Aerospace
By Geography
- North America
- Europe
- The Asia Pacific
- Latin America
- MEA
Frequently Asked Questions
The hafnium market was valued at USD 89.7 million in 2023 and is expected to grow at 7.4% CAGR over the forecast period 2024 – 2030.
The rising importance of superalloys in various industries, the development and launch of various aerospace industries is a key opportunity for companies to enhance their revenue over the forecasted years
North America is currently leading the hafnium market.
ACI Alloys, Alkane Resources Ltd, Allegheny Technologies Incorporated, American Elements, Nanjing Youtian Metal Technology Co. Ltd and China Nuclear JingHuan Zirconium Industry Co. Ltd are a few companies operating in hafnium market.
| 1.Executive Summary |
| 2.Global Hafnium Market Introduction |
| 2.1.Global Hafnium Market - Taxonomy |
| 2.2.Global Hafnium Market - Definitions |
| 2.2.1.Type |
| 2.2.2.Application |
| 2.2.3.End-User Industry |
| 2.2.4.Geography |
| 2.2.5.Region |
| 3.Global Hafnium Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Hafnium Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Hafnium Market By Type , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Hafnium metal |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Hafnium oxide |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Hafnium carbide |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Others |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 6.Global Hafnium Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Superalloy |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Nuclear |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Optical coating |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Plasma cutting/welding |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Catalyst |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Others |
| 6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 7.Global Hafnium Market By End-User Industry , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Electronics |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Nuclear |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Aerospace |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 8.Global Hafnium Market By Geography, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. The Asia Pacific |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Latin America |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. MEA |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.Global Hafnium Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. North America |
| 9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.1.3. Market Opportunity Analysis |
| 9.2. Europe |
| 9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.2.3. Market Opportunity Analysis |
| 9.3. Asia Pacific (APAC) |
| 9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.3.3. Market Opportunity Analysis |
| 9.4. Middle East and Africa (MEA) |
| 9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.4.3. Market Opportunity Analysis |
| 9.5. Latin America |
| 9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.5.3. Market Opportunity Analysis |
| 10.North America Hafnium Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Hafnium metal |
| 10.1.2.Hafnium oxide |
| 10.1.3.Hafnium carbide |
| 10.1.4.Others |
| 10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Superalloy |
| 10.2.2.Nuclear |
| 10.2.3.Optical coating |
| 10.2.4.Plasma cutting/welding |
| 10.2.5.Catalyst |
| 10.2.6.Others |
| 10.3. End-User Industry Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Electronics |
| 10.3.2.Nuclear |
| 10.3.3.Aerospace |
| 10.4. Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.North America |
| 10.4.2.Europe |
| 10.4.3.The Asia Pacific |
| 10.4.4.Latin America |
| 10.4.5.MEA |
| 10.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.5.1.United States of America (USA) |
| 10.5.2.Canada |
| 11.Europe Hafnium Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Hafnium metal |
| 11.1.2.Hafnium oxide |
| 11.1.3.Hafnium carbide |
| 11.1.4.Others |
| 11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Superalloy |
| 11.2.2.Nuclear |
| 11.2.3.Optical coating |
| 11.2.4.Plasma cutting/welding |
| 11.2.5.Catalyst |
| 11.2.6.Others |
| 11.3. End-User Industry Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Electronics |
| 11.3.2.Nuclear |
| 11.3.3.Aerospace |
| 11.4. Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.North America |
| 11.4.2.Europe |
| 11.4.3.The Asia Pacific |
| 11.4.4.Latin America |
| 11.4.5.MEA |
| 11.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.5.1.Germany |
| 11.5.2.France |
| 11.5.3.Italy |
| 11.5.4.United Kingdom (UK) |
| 11.5.5.Spain |
| 12.Asia Pacific (APAC) Hafnium Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Hafnium metal |
| 12.1.2.Hafnium oxide |
| 12.1.3.Hafnium carbide |
| 12.1.4.Others |
| 12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Superalloy |
| 12.2.2.Nuclear |
| 12.2.3.Optical coating |
| 12.2.4.Plasma cutting/welding |
| 12.2.5.Catalyst |
| 12.2.6.Others |
| 12.3. End-User Industry Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Electronics |
| 12.3.2.Nuclear |
| 12.3.3.Aerospace |
| 12.4. Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.North America |
| 12.4.2.Europe |
| 12.4.3.The Asia Pacific |
| 12.4.4.Latin America |
| 12.4.5.MEA |
| 12.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.5.1.China |
| 12.5.2.India |
| 12.5.3.Australia and New Zealand (ANZ) |
| 12.5.4.Japan |
| 12.5.5.Rest of APAC |
| 13.Middle East and Africa (MEA) Hafnium Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Hafnium metal |
| 13.1.2.Hafnium oxide |
| 13.1.3.Hafnium carbide |
| 13.1.4.Others |
| 13.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Superalloy |
| 13.2.2.Nuclear |
| 13.2.3.Optical coating |
| 13.2.4.Plasma cutting/welding |
| 13.2.5.Catalyst |
| 13.2.6.Others |
| 13.3. End-User Industry Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Electronics |
| 13.3.2.Nuclear |
| 13.3.3.Aerospace |
| 13.4. Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.North America |
| 13.4.2.Europe |
| 13.4.3.The Asia Pacific |
| 13.4.4.Latin America |
| 13.4.5.MEA |
| 13.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.5.1.GCC Countries |
| 13.5.2.South Africa |
| 13.5.3.Rest of MEA |
| 14.Latin America Hafnium Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 14.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.1.1.Hafnium metal |
| 14.1.2.Hafnium oxide |
| 14.1.3.Hafnium carbide |
| 14.1.4.Others |
| 14.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.2.1.Superalloy |
| 14.2.2.Nuclear |
| 14.2.3.Optical coating |
| 14.2.4.Plasma cutting/welding |
| 14.2.5.Catalyst |
| 14.2.6.Others |
| 14.3. End-User Industry Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.3.1.Electronics |
| 14.3.2.Nuclear |
| 14.3.3.Aerospace |
| 14.4. Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.4.1.North America |
| 14.4.2.Europe |
| 14.4.3.The Asia Pacific |
| 14.4.4.Latin America |
| 14.4.5.MEA |
| 14.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.5.1.Brazil |
| 14.5.2.Mexico |
| 14.5.3.Rest of LA |
| 15. Competition Landscape |
| 15.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 15.2.1.ACI Alloys |
| 15.2.2.Alkane Resources Ltd |
| 15.2.3.Allegheny Technologies Incorporated |
| 15.2.4.American Elements |
| 15.2.5.Nanjing Youtian Metal Technology Co. Ltd |
| 15.2.6.China Nuclear JingHuan Zirconium Industry Co. Ltd |
| 15.2.7.Framatome |
| 15.2.8.Phelly Materials Inc |
| 15.2.9.Thermo Fisher Scientific Inc. |
| 15.2.10.Baoji ChuangXin Metal Materials Co. Ltd |
| 15.2.11.Chemsavers Inc |
| 15.2.12.Lenntech B.V |
| 16. Research Methodology |
| 17. Appendix and Abbreviations |
- ACI Alloys
- Alkane Resources Ltd
- Allegheny Technologies Incorporated
- American Elements
- Nanjing Youtian Metal Technology Co. Ltd
- China Nuclear JingHuan Zirconium Industry Co. Ltd
- Framatome
- Phelly Materials Inc
- Thermo Fisher Scientific Inc.
- Baoji ChuangXin Metal Materials Co. Ltd
- Chemsavers Inc
- Lenntech B.V