On August 18, 2026, UK-based Metalysis announced that it has achieved commercial-spec production of C-103 (niobium-hafnium-titanium) alloy powder for aerospace, defense, and hypersonic applications. Its FFC electrolysis process is a solid-state "powder-in, powder-out" method scalable to tens of tonnes per year, with powder oxygen content below 500 ppm. C-103 is a critical refractory alloy for aerospace and hypersonic thermal protection structures; the current market is valued at approximately $46 million, projected to reach $200 million by 2032 (a CAGR of ~32%). Metalysis's FFC process directly reduces metal oxides, bypassing the hafnium metal shortage bottleneck caused by semiconductor capacity expansion, and opens up a path for large-scale supply of niobium-based high-temperature alloy powders. Value for powder buyers: ① Domestic supply of refractory alloy powders such as C-103 is scarce, and Metalysis's commercialization may drive domestic R&D and procurement interest in comparable niobium- and hafnium-based superalloy powders; ② amid the hafnium shortage, the direct oxide reduction route highlights raw material self-sufficiency, which is a long-term positive for supply stability of refractory alloy powders; ③ watch the impact of hypersonic and aerospace thermal protection demand on refractory powder pricing and delivery lead times.