DUBLIN--(BUSINESS WIRE)--The "Global Hafnium Market - Segmented by Application and Geography - Growth, Trends and Forecasts (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global hafnium market consumption was estimated to be 69.5 kilotons in 2017. The European Union is expected to hold the largest share of the market. Superalloy application is set to hold the major share of the market.
The growing aerospace industry, which includes the use of hafnium as an alloy, in regions of North America is propelling the growth of the market.
The major applications of hafnium superalloys are turbine blades and vanes, which are used in jet engines where high temperature, pressure, and stress exist. Such alloys consist around 1-2% hafnium. Siemens uses a polycrystalline nickel-based alloy, MAR-M 247, developed by Martin-Marietta Corp., for its land-based turbines.
The demand for hafnium has rapidly increased in the United States in the past few years owing to the increasing demand from nuclear reactors, aerospace industry, industrial turbines, etc. The United States is one of the largest producers of nuclear power in the world, with around 99 nuclear reactors. These plants produced 805 billion kWh power in 2016. With the high demand for electricity, more nuclear reactors are under construction, and this trend is expected to increase during the forecast period. In addition, the demand for hafnium in aircraft manufacturing industry is increasing as aircraft manufacture is on the rise.
The aerospace industry contributed USD 144.1 billion in export sales to the economy, in 2015, which is expected to increase in the future. Therefore, the demand for hafnium is increasing in the country and the supply of hafnium is sufficient to cater to the increasing demand in the country.
Notable Developments in the Market
- August 2016: Leading Edge Materials Corp. completed the merger with Tasman, whereby, the company acquired, through a statutory plan of arrangement, all of the outstanding shares of Tasman and changed its name to Leading Edge Materials Corp.
Key Topics Covered
2. Executive Summary
3. Market Insights
4. Market Dynamics
5. Market Segmentation and Analysis
6. Regional Market Analysis
7. Competitive Landscape
8. Company Profiles
- Nanjing Youtian Metal Technology Co. Ltd
- Alkane Resources
- China Nulear Jinghuan Zirconium Industry Co.Ltd.
- Shenzhen Xinxing Metal Technology Co. Ltd.
- Baoji Chuangxin Metal Materials Co. Ltd. (CXMET)
- ACI Alloys Inc.
- Phelly Materials Inc.
- State Nuclear Wec Zirconium Hafnium Co. Ltd. (SNWZH)
- Leading Edge Materials Corp.
9. Future of the Market
For more information about this report visit https://www.researchandmarkets.com/research/s2wgwx/global_hafnium?w=4