Niobium metal comes from volcanic rocks in various parts of the world. It is a rare element that is obtained from tantalite and pyrochlore minerals. It is expected that the increase in demand for steel in the emerging regions and the niobium in the automotive, construction and aerospace sectors will stimulate this market during the forecast period. A recent advance in the niobium market is the development of high-performance electroceramics.
Global Niobium Market Size and Growth Rate:
According to the report published by Research Cosmos, the Global Niobium Market is estimated to grow at a CAGR of 6.88% from 2018 to 2023 to reach USD XX Million by 2023.
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Global Niobium Market – Drivers and Restraints:
The high purity of the grain sizes and the rigid distribution channels should stimulate the demand for niobium during the forecast period. The commercialization of new technologies such as mobile devices, computers, and the internet has led to the expansion of the niobium market, as well as the use of compounds and oxides in electroceramic applications. The inadequate supply of niobium should be a restriction in the market during the forecast period. Niobium is used in steel as Ferro niobium for the production of low alloy steel and high strength for the automotive, construction and pipe industries. Niobium is also used in certain types of stainless steels. The addition of niobium in steel makes it stronger since it requires less steel, which reduces the overall cost of construction. As a result, niobium is increasingly used in steel and the growth of the steel industry will play a crucial role in the growth of the niobium market.
Global Niobium Market – Geographical Segmentation:
Based on geography, the niobium market is divided between North America, Europe, Asia Pacific, the Middle East, and Africa, and Latin America. The Asia Pacific had a dominant market share in 2016 and is expected to maintain its position during the forecast period, which represents almost 50% of the global niobium market. It is expected that the growing demand for HSLA steel in the construction sector will boost the niobium market in this region. China, Japan, South Korea, and India are the main countries that use ferroniobium for the production of HSLA steel. Increased investment in the non-residential sector and infrastructure activities should stimulate the construction industry in this region. China is expected to be dominant during the forecast period. Latin America is expected to expand rapidly due to Brazil’s increased niobium production capacity. North America represented a significant market share in 2016 due to the development of the automotive and aerospace sectors. The United States is an important market for niobium and is expected to be the leading country during the forecast period.
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Companies dominating the Global Niobium Market are:
Global Advanced Metals, Anglo American, CBMM, Magris Resources, Corevale Limited, SDMS, Alkane Resources Ltd., Molycorp, Grandview Materials Inc., Taseko Mines Ltd., Advanced Metallurgical, NioCorp Developments Ltd., and Titanex GmbH are the major players of the market.
Key Takeaways from this Report:
- For different product types, end-use applications and industry verticals, offers calculated growth rates (CAGR %), Volume (Units), and Value ($M) in each region to estimate the market potential.
- Identify various driving factors, constraints and untold opportunities that can impact the global marketplace
- Know the position of your competitor based on the market shares, financial performance, strategical approaches, SWOT, product benchmarking and so on.
- Increase overall revenue by understanding the geographical impact on sales and distribution channels.
- Evaluate the increase in values at each step of the industry supply chain to improve process efficacy and optimize the value.
- Understand the market dynamics of leading players like deals, partnerships, new products, mergers and acquisitions in the last four years.
- Estimate the gaps in supply-demand, statics involved in import-export, and regulatory framework of the worldwide market in over 20 top nations.
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