Growing Demand from Aerospace Industry
Hafnium alloys with several other metals, such as iron, niobium, tantalum, and titanium. Hafnium-niobium alloys, for example, are heat resistant and are used in aerospace applications, such as space rocket engines. 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.
Superalloy Application to Hold the Largest Share
Hafnium has a wide-range of applications in various alloys. The metal is used in polycrystalline nickel-based superalloys due to its high melting point (22330C), as it helps strengthen grain boundaries, thereby, improving both, tensile strength and high temperature creep. Additionally, due to its affinity for carbon, oxygen, and nitrogen, hafnium provides strengthening during the second phase particle dispersion.
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.
United States is the Largest and the Fastest Growing Market
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.
Major players are ATI, AREVA, and Westinghouse, amongst others.
Reasons to Purchase the Report
To understand the impact of increasingly stringent regulations on the market.
Analyzing various perspectives of the market with the help of Porter’s Five Forces Analysis.
To understand the dominating technology in the market.
Identify the countries expected to witness the fastest growth during the forecast period.
Identify the latest developments, market shares, and strategies employed by the major market players.
3-month analyst support along with the Market Estimate sheet (in Excel).
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1.1 Scope of the Report
1.2 Research Phases
1.3 Study Deliverables
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness - Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
4. Market Dynamics
4.1.1 Growing Demand from Aerospace Industry
4.2.1 Harm to Health and Environment
4.3.1 Growing Use of Hafnium as Super Alloy in Gas Turbines
5. Market Segmentation and Analysis
5.1 By Application
5.1.1 Super Alloy
5.1.2 Optical Coating
5.1.4 Plasma Cutting
6. Regional Market Analysis
6.1 United States
6.2 European Union
6.7 Rest of the World
7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & Services, Recent Developments, and Analyst View)
8.1 ACI Alloys Inc.
8.2 Alkane Resources
8.5 Baoji Chuangxin Metal Materials Co., Ltd (CXMET)
8.6 China Nulear Jinghuan Zirconium Industry Co.Ltd
8.7 Leading Edge Materials Corp.
8.8 Nanjing Youtian Metal Technology Co. Ltd
8.9 Phelly Materials Inc.
8.10 Shenzhen Xinxing Metal Technology Co. Ltd
8.11 State Nuclear Wec Zirconium Hafnium Co., Ltd (SNWZH)
*List not Exhaustive
9. Future of the Market
**Subject to Availability of Public Domain
- 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.