Hafnium, a rare and critical element used in various high-tech applications, is currently facing a global shortage. This scarcity has raised concerns among industries that rely heavily on hafnium, including aerospace, electronics, and nuclear power.
One of the main reasons behind the hafnium shortage is its limited availability in nature. Hafnium is typically found in small quantities in rare earth minerals such as zirconium ores. The extraction and processing of hafnium are complex and require specialized techniques, which makes it expensive and time-consuming. Additionally, geopolitical factors and export restrictions by some countries that are major producers of hafnium have made the problem worse.
The impact of the hafnium shortage is being felt across multiple industries, including ours. Hafnium is used in plasma consumables, as it an ideal material to use in high-temperature applications.
Read more in The Financial Star article ‘This SPACE Metal Has Just Quadrupled in Price—Weekly Wrap‘