Global Zirconium and Hafnium Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Zirconium and Hafnium Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Zirconium is a chemical element with the symbol Zr, atomic number 40 and atomic mass of 91.224. The name of zirconium is taken from the mineral zircon, the most important source of zirconium, and from the Persian word zargun - زرگون, meaning gold colored. It is a lustrous, grey-white, strong transition metal that resembles hafnium and, to a lesser extent, titanium.

Market Overview:

The latest research study on the global Zirconium and Hafnium market finds that the global Zirconium and Hafnium market reached a value of USD 834.13 million in 2022. It’s expected that the market will achieve USD 1027.13 million by 2028, exhibiting a CAGR of 3.53% during the forecast period.

Zirconium and Hafnium Drivers

Hafnium metal has excellent weldability, workability, high temperature resistance, corrosion resistance, and a large cross-section for capturing thermal neutrons. It is an ideal neutron absorber, making it suitable for the manufacture of protective devices for control rods in atomic reactors. Global Hafnium Market. In addition to this, hafnium is used as a getter in many gas-filled systems because it removes unwanted gases such as oxygen and nitrogen from the system and is highly resistant to volatility, making it suitable for use as a hydraulic fluid Additives in to prevent volatilization of hydraulic fluids during high-risk operations during chemical formation are estimated to drive the global hafnium market. In addition, hafnium's unique ductility, oxidation resistance, and high temperature resistance make it an excellent alloy material for a variety of applications, such as 10% hafnium-containing hafnium- niobium alloys for rocket nozzles, and hafnium-containing tantalum- tungsten alloys 2% of hafnium is used as spacecraft protection material, and hafnium is used in the production of tungsten wire, which is expected to drive the global hafnium market

Hafnium is widely used in aerospace industry as super alloy due to its excellent properties. It can alloy with many other metals including titanium, iron, niobium and tantalum. For example, in aerospace applications, such as space rocket engines, heat-resistant hafnium- niobium alloys are used. Superalloy is the major application with more than 35% share in overall hafnium demand globally. Rising aerospace industry with adoption of technological advancements is further expected to enhance the demand of hafnium in aerospace and aviation industry.

Region Overview:

China had the highest growth rate of all regions.

Company Overview:

Orano is one of the major players operating in the Zirconium and Hafnium market, holding a share of 21.23% in 2022.

Currently, Orano is the only company to produce MOX fuel assemblies, which it does at the Melox plant. Opened in 1995, the plant produces enough MOX fuel each year to supply 25 to 30 reactors as a supplement to enriched uranium fuels. Its production capacity has just been increased with the installation of a second powder mixing line, the first stage in MOX fabrication. This new equipment facilitates the production of mixtures meeting the specifications of various customers, providing additional guarantees of on-time delivery.

SNWZH will establish an advanced and complete production research system, carry out independent innovation on the basis of digesting and absorbing transfer technology, promote and accelerate the localization of nuclear-grade zirconium sponge production technology, and fill the gap in domestic nuclear-grade zirconium sponge production. It lays a solid foundation for the large-scale, group-based, international and independent development of my country's zirconium industry, and realizes my country's independent design, independent manufacturing, independent construction, and independent operation of nuclear power development. The goal of SNWZH is to become a leader in the international market. The core manufacturer and supplier of nuclear grade zirconium sponge, hafnium oxide, hafnium sponge.

Segmentation Overview:

Among different product types, Nuclear Grade Zirconium segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Nuclear Industry segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Zirconium and Hafnium market covered in Chapter 3:

CITIC Jinzhou Metal
Guangdong Orient Zirconic
Westinghouse
Chepetsky Mechanical Plant
Baoti Huashen
Liaoning Huagao New Materials Co., Ltd.
CNNC Jinghuan
SNWZH
Nuclear Fuel Complex
Orano
ATI

In Chapter 4 and Chapter 14.2, on the basis of types, the Zirconium and Hafnium market from 2018 to 2029 is primarily split into:

Nuclear Grade Zirconium
Industrial Grade Zirconium
Hafnium

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Zirconium and Hafnium market from 2018 to 2029 covers:

Nuclear Industry
Zircaloy Alloys Industry
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)