Global Zirconium and Hafnium Market Projected to Reach USD 1000 Million by 2026

27-Mar-2020 | Facts and Factors

Findings from Facts and Factors report “Zirconium and Hafnium Market By Type (Nuclear Grade Zirconium, Industrial Grade Zirconium, Hafnium) By Sales Channel (Direct and Indirect) and By Application (Nuclear Industry, Zircaloy Alloys Industry, Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Zirconium and Hafnium market in 2019 was around USD 620 Million. The market is expected to grow at a CAGR of 7% and is anticipated to reach around USD 1000 Million by 2026.

Zirconium is a chemical element with an atomic number of 40 and shares somewhat similar properties to hafnium. The zirconium metal has a grayish-white color with a great shine. Zirconium is extremely flammable when present in the form of a powder and is less flammable when in the form of a metal rod and also has strong corrosion resistance. This does not corrode even though it comes into contact with alkalis, acids, and saltwater. Natural zirconium contains at least 1% to 3% of hafnium. The use of zirconium with hafnium can cause problems due to its different chemical properties. Therefore, before any processing, it is important to separate zirconium from hafnium. Owing to the limited manufacturers present in the market for the production of alloys using zirconium and hafnium, the overall market concentration for the Zirconium and Hafnium market is high.

Browse the full “Zirconium and Hafnium Market By Type (Nuclear Grade Zirconium, Industrial Grade Zirconium, Hafnium) By Sales Channel (Direct and Indirect) and By Application (Nuclear Industry, Zircaloy Alloys Industry, Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/zirconium-and-hafnium-market-by-type-nuclear-grade-993

Owing to the good corrosion resistance properties and the stringent economic requirements imposed by the chemical and petrochemical industry, there has been a sharp rise in the demand for Zirconium alloys. Zirconium is developed as an industrial alloy for the use of nitric acid. Commercial purity of zirconium is a common alternative for the application of nitric acid. In addition, zirconium alloy is used in applications where cladding or a higher degree of forming is needed. The strong corrosion resistance properties are also important for the chemical process industry as these properties in nitric acid are remarkable at acid concentrations up to 90% and at temperatures well above the boiling point. But the stringent regulations imposed on the usage of Zirconium are expected to hinder the growth of the Zirconium market as its usage in the powdered form can cause irritation to the eyes and if inhales, can reach the deep portions of the lungs and if these minute particles are not detected, then it might further lead to severe health issues like cancer. Still, there is a huge demand for the use of Zirconium in body implantations. It is used in ceramic knee implants and is combined with an all-plastic tibial component by replacing the metal tray that can last for 20-25 years.

On the basis of type segment, the Nuclear Grade Zirconium is expected to dominate the market because of the expected growth in the residential sector across the globe. The wide use of Zirconium in ceramics and foundries owing to its various properties, such as low acidity, chemical stability at high temperatures, good binding properties, low thermal expansion, and good recyclability makes it a good option for the residential sector. On the basis of the Sales Channel, the market is divided into Direct and Indirect sales channels. The direct channel is predicted to show its dominance owing to the limited manufacturers present in the market and many manufacturers prefer selling these alloys direct to the customers for getting necessary feedback from the customers which helps the manufacturers to make necessary changes in the production process and improve the quality and performance of the products. On the basis of the end-user industry, the market is bifurcated into Nuclear Industry, Zircaloy Alloys Industry, and Others. Nuclear Industry is expected to grow because of the neutron-absorbing qualities possessed by Zirconium and Hafnium and has high resistance against temperature and corrosion. It can also be used in manufacturing metal rods and devices that can be protective for nuclear reactions.

The region of Asia Pacific is expected to dominate the market owing to the rising population, increasing per capita income and living standards of the people. As many countries of this region are the top emerging economies in the world, there is a growing demand for residential and commercial constructions that uses ceramics and tiles. The increasing focus on the development and the use of nuclear power resources among these developing countries is driving the market as this nuclear energy is considered to be a clean source of energy.

Report Scope

The major key players in the Zirconium and Hafnium market are as follows :

• Framatome (Areva)
• Westinghouse Electric Company LLC
• ATI
• Chepetsky Mechanical Plant
• Nuclear Fuel Complex
• SNWZH
• CNNC Jinghuan
• Guangdong Orient Zirconic
• Boati Huashen
• CITIC Jinzhou Metal

This report segments the Zirconium and Hafnium market as follows:

Global Zirconium and Hafnium Market: By Type Segmentation Analysis

• Nuclear Grade Zirconium
• Industrial Grade Zirconium
• Hafnium

Global Zirconium and Hafnium Market: By Sales Channel Segmentation Analysis

• Direct
• Indirect

Global Zirconium and Hafnium Market: By Application Segmentation Analysis

• Nuclear Industry
• Zircaloy Alloys Industry
• Others

Global Zirconium and Hafnium Market: Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • The UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa

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