The global hafnium market size was valued at USD 155.52 million in 2022. The market is anticipated to expand from USD 396.07 million in 2023 to USD 669.77 million in 2030, exhibiting a CAGR of 7.8% over the estimated period. Information Source -https://www.fortunebusinessinsights.com/hafnium-market-108578 Hafnium is a silvery gray lustrous tetravalent transition metal typically sourced from zirconium minerals. The global shift toward electrification, including the widespread adoption of renewable energy sources such as wind and solar, is a significant catalyst for hafnium market growth. Segmentation: Hafnium Metal Segment Dominated the Market Due to Its Advantages in Harsh Environmental Conditions In terms of type, the market is segmented into hafnium oxide, hafnium carbide, hafnium metal, and others. The hafnium metal segment held a key market share. Its impressive resistance to corrosion is a pivotal advantage, especially in industries exposed to harsh environmental condition. This factor is a significant driving force behind the ongoing expansion of the hafnium segment. Super Alloys Segment Maintained its Leadership Due to Increasing Adoption of Hafnium-Based Super Alloys On the basis of application, the market is divided into optical coating, nuclear, plasma cutting, super alloy, and others. The super alloys segment dominated the market in 2022. This is due to the increasing adoption of hafnium-based super alloys in diverse industries, including nuclear energy, gas turbines, biomedical, and aerospace. In terms of region, the market is categorized into Europe, North America, the Asia Pacific, and the rest of world. Report Coverage: The report offers a thorough analysis of the primary factors set to drive industry growth in the coming years. It provides valuable insights into the most recent market trends and highlights noteworthy industry advancements. Additionally, the report evaluates the influence of the COVID-19 pandemic on market expansion. Drivers and Restraints: Growing Advancements in Aerospace Sector to Propel Market Development Hafnium’s significance in the aerospace industry is a key driver of market growth. As military aircraft development and global travel continue to evolve, the aerospace sector is on the cusp of remarkable growth. This growth sparks an increasing demand for hafnium base-alloys particularly for the advancement of cutting-edge jet engines and spacecraft components, thereby propelling the market expansion. However, fluctuations in zirconium production, tied to hafnium supply, have led to periods of oversupply and shortages, disrupting market stability and growth prospects. Regional Insights: North America Emerged as Key Region Owing to Rising Demand for Pharmaceutical Products North America hafnium market share led the market position. The burgeoning need for efficient and accessible air travel options fuels the demand for new and upgrade aircrafts, thereby driving region’s growth. Hafnium’s exceptional properties, such as resistance to corrosion and high melting point, make it indispensable for manufacturing components that demand stability and durability under high temperatures. This heightened demand from diverse industries such as automotive, electronics, and energy is a primary driver of the Asia Pacific market growth. Competitive Landscape: Market is Consolidated due to the Presence of Well-Established Companies The market possesses a high level of consolidation, characterized by a select group of major companies who exercise significant control over the market. These well-established companies efficiently manage production facilities. The likelihood of new entrants establishing a presence in this market is quite limited, majorly due to the requirement for substantial technological expertise. Key Industry Development: April 2023 –SG Technologies Group Limited, a specialized manufacturer of rare-earth-based products was acquired by NEO Company. This strategic move marked a significant achievement for NEO, allowing them to broaden their product range within the rare earth sector. List of Key Players Mentioned in the Report: Framatome Inc. (France) Alkane Resources Ltd. (Australia) American Elements (U.S.) Nanjing Youtian Metal Technology Co.,Ltd. (China) ACI Alloys Inc. (U.S.) Westinghouse Electric Company LLC (U.S.) Baoji City Hengxin Rare Metal Co.,Ltd. (China) Nantong JP New Material Tech co. LTD (China) Advanced Engineering Materials Limited (China) Neo (Canada)

The global fluoroelastomers market size is expected to reach USD 1,794.1 million by 2027, exhibiting a CAGR of 3.7% during the forecast period. The increasing demand for products including gaskets and hoses will create lucrative opportunities for the market. Information Source - https://www.fortunebusinessinsights.com/fluoroelastomer-market-104714 The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling, and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic. We are making continuous efforts to help your business sustain and grow during the COVID-19 pandemic. Based on our experience and expertise, we will offer you an impact analysis of the coronavirus outbreak across industries to help you prepare for the future. The fluoroelastomers market report emphasizes on: Superior insights into all market Valuable data about eminent players Emerging trends Regional Insights Market drivers and restraints Latest developments Market Driver: Surging Demand for Fuel-Efficient Vehicles to Incite Development The depleting fossil fuel reserves and fluctuations in crude oil prices have led to high demand for fuel-efficient vehicles among consumers, which, in turn, will augur well for the fluoroelastomers industry. Similarly, increasing awareness about climate change and carbon emissions among consumers has further demand for low-emission vehicles. Automotive manufacturers are investing hefty funds in research and development to transform their existing designs and utilize lightweight materials to achieve the desired efficiency in cars. Moreover, OEMs reduce the size of components such as engines and powertrains and incorporate air circulatory systems to improve proficiency. The compatibility of fluoroelastomers with a wide variety of chemicals and resistance to extensive temperature ranges is projected to spur its demand in the automotive industry. Also, conventional elastomers' inability to sustain high temperatures will fuel the demand for fluoroelastomers in the near future. Halt on Manufacturing Activities to Reduce Demand Amid COVID-19 The COVID-19 pandemic had a negative impact on the automotive and aerospace industries. The pandemic resulted in an abrupt halt in manufacturing activities, supply chains, and factory shutdowns. As a result, the automotive industry is struggling with the generation of revenue. The sudden shutdown of production facilities disrupted the automotive sector. Moreover, the aircraft manufacturers reduced their production rates due to the global lockdown. The delayed aircraft deliveries and diminished production have severely affected the global fluoroelastomers market growth during the global pandemic. Regional Analysis: Rising investments in the pharmaceutical Industry to Favor Market in Asia Pacific The fluoroelastomers market in Asia Pacific is expected to grow exponentially during the forecast period due to its high consumption. Rising investments in the pharmaceutical, food processing, chemical processing, and coating industries in India and China will propel the market's growth. The market in North America is expected to hold the largest fluoroelastomer market share during the forecast period. The growth is attributed to the increasing demand from the automotive and aerospace industries because of fuel emission regulations. Europe is expected to expand radically during the forecast period. The presence of major automotive, and aerospace manufacturers such as Dassault Aviation, and Airbus will boost the market in Europe. Countries including Germany, the UK, and France were the major contributors in the region. Key Development: October 2019: Solvay expanded its production capacity of Tecnoflon FKM peroxide curable fluoroelastomer by 30% at its plant in Spinetta Marengo, Italy, to cater to the rising demand for high-performance sealing applications in the automotive, oil & gas, and semiconductor industries. The Report Lists the Key Players in the Global Market Solvay S.A. (Belgium) The Chemours Company (U.S.) Daikin Industries Ltd. (Japan) 3M (U.S.) AGC, Inc. (Japan) Shin-Etsu Chemical Co., Ltd. (Japan) Eagle Elastomer Inc. (U.S.) HaloPolymer (Russia) James Walker & Co. (UK) Air Boss Rubber Solutions (Canada) Dynafluon (India) Other Players

The global fluoroelastomers market size is expected to reach USD 1,794.1 million by 2027, exhibiting a CAGR of 3.7% during the forecast period. The increasing demand for products including gaskets and hoses will create lucrative opportunities for the market. Information Source - https://www.fortunebusinessinsights.com/fluoroelastomer-market-104714 The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling, and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic. We are making continuous efforts to help your business sustain and grow during the COVID-19 pandemic. Based on our experience and expertise, we will offer you an impact analysis of the coronavirus outbreak across industries to help you prepare for the future. The fluoroelastomers market report emphasizes on: Superior insights into all market Valuable data about eminent players Emerging trends Regional Insights Market drivers and restraints Latest developments Market Driver: Surging Demand for Fuel-Efficient Vehicles to Incite Development The depleting fossil fuel reserves and fluctuations in crude oil prices have led to high demand for fuel-efficient vehicles among consumers, which, in turn, will augur well for the fluoroelastomers industry. Similarly, increasing awareness about climate change and carbon emissions among consumers has further demand for low-emission vehicles. Automotive manufacturers are investing hefty funds in research and development to transform their existing designs and utilize lightweight materials to achieve the desired efficiency in cars. Moreover, OEMs reduce the size of components such as engines and powertrains and incorporate air circulatory systems to improve proficiency. The compatibility of fluoroelastomers with a wide variety of chemicals and resistance to extensive temperature ranges is projected to spur its demand in the automotive industry. Also, conventional elastomers' inability to sustain high temperatures will fuel the demand for fluoroelastomers in the near future. Halt on Manufacturing Activities to Reduce Demand Amid COVID-19 The COVID-19 pandemic had a negative impact on the automotive and aerospace industries. The pandemic resulted in an abrupt halt in manufacturing activities, supply chains, and factory shutdowns. As a result, the automotive industry is struggling with the generation of revenue. The sudden shutdown of production facilities disrupted the automotive sector. Moreover, the aircraft manufacturers reduced their production rates due to the global lockdown. The delayed aircraft deliveries and diminished production have severely affected the global fluoroelastomers market growth during the global pandemic. Regional Analysis: Rising investments in the pharmaceutical Industry to Favor Market in Asia Pacific The fluoroelastomers market in Asia Pacific is expected to grow exponentially during the forecast period due to its high consumption. Rising investments in the pharmaceutical, food processing, chemical processing, and coating industries in India and China will propel the market's growth. The market in North America is expected to hold the largest fluoroelastomer market share during the forecast period. The growth is attributed to the increasing demand from the automotive and aerospace industries because of fuel emission regulations. Europe is expected to expand radically during the forecast period. The presence of major automotive, and aerospace manufacturers such as Dassault Aviation, and Airbus will boost the market in Europe. Countries including Germany, the UK, and France were the major contributors in the region. Key Development: October 2019: Solvay expanded its production capacity of Tecnoflon FKM peroxide curable fluoroelastomer by 30% at its plant in Spinetta Marengo, Italy, to cater to the rising demand for high-performance sealing applications in the automotive, oil & gas, and semiconductor industries. The Report Lists the Key Players in the Global Market Solvay S.A. (Belgium) The Chemours Company (U.S.) Daikin Industries Ltd. (Japan) 3M (U.S.) AGC, Inc. (Japan) Shin-Etsu Chemical Co., Ltd. (Japan) Eagle Elastomer Inc. (U.S.) HaloPolymer (Russia) James Walker & Co. (UK) Air Boss Rubber Solutions (Canada) Dynafluon (India) Other Players

The global eVTOL aircraft market size was estimated to be worth USD 1.11 billion in 2020. The market value is expected to increase from USD 5.41 billion in 2023 to USD 23.21 billion in 2028 at a CAGR of 23.13% during 2023-2028. Growing urbanization, increasing traffic congestion, and the need for smarter transportation solutions are some of the major factors propelling the market forward. Fortune Business Insights presents this information in its report titled “EVTOL Aircraft Market, 2023-2028." Browse Detailed Summary of Research Report: https://www.fortunebusinessinsights.com/evtol-aircraft-market-106298 Electric vertical take-off and landing aircraft are increasingly gaining traction across the globe. This technology represents the next generation of transportation solutions that are safer, quieter, and cleaner. Such aircraft work on electric propulsion, making them a sustainable option compared to conventional air carriers. The demand for this technology will increase significantly in the next few years, powered by increasing demand for urban air mobility, growing awareness regarding carbon footprint, and the need to cut aircraft operating costs.