Niobium: Key market research findings
- Increasing production of steel propels market growth
- APAC dominates the market geographically
- Key vendors – CBMM, Anglo American, Magris Resources, Global Advanced Metals, and Advanced Metallurgical
Technavio’s market research analysts predict the global niobium market to grow at a CAGR of almost 8% between 2016 and 2020. The demand for niobium is augmented by its increased use in the production of steel. Niobium improves the toughness, strength, and weldability of steel products. Among flat steel products, it is used in the production of hot-rolled and cold-rolled steel strips and high-strength steel plates. Among long steel products, finds application in the strengthening wire rods, reinforcing bars, structural sections, and rail steels. In 2015, the global niobium market was dominated by APAC by occupying around 49% of the overall market space. The flourishing construction industry in the region, with India, China, Japan, and South Korea leading the charge, and the subsequent demand for high-strength low-alloy (HSLA) steel is expected to contribute to the growth of the niobium market in APAC in the coming years.
The new market research report from Technavio presents a breakdown and analysis of the niobium segments based on the source.
“The growth of ultra-high-purity niobium in particular grain sizes and tight distributions is propelling the development of high-performance electroceramics. The need for compact, high-performance electroceramics is on a rise due to the growth and commercialization of new technologies such as computers, mobile devices, and the Internet. Niobium compounds are used in the production of piezoelectric ceramics, dielectric ceramics, ferrites, and single crystals in the electro-optic and electronic industries,” says Chandrakumar Badala Jaganathan, Lead Analyst, Chemicals & Materials, Technavio Research.
By 2020, the pyrochlore segment will continue its market dominance by accounting for almost 91% of the overall market share. Pyrochlore is the main mineral from which niobium is obtained. The geological properties of pyrochlore are such that the need to separate it from other elements to produce niobium is limited, resulting in a significant production cost advantage. In the processing unit, the pyrochlore mineral is subjected to a physical processing technique, resulting in the production of a concentrate that contains 50%-60% niobium oxide, which is further processed into ferroniobium and other niobium end products.
CBMM, Anglo American, Magris Resources, Global Advanced Metals, and Advanced Metallurgical are the key vendors in the market. This market is oligopolistic in nature and is tightly integrated. It is dominated by the Brazilian vendor CBMM, which accounts for almost 75% of the total market revenue. Global production of niobium is concentrated in Brazil, with the main source being the vast pyrochlore deposit owned by CBMM. The niobium market is dominated by Brazil, which accounts for 89% of global supply.
A more detailed analysis is available in the Technavio report, Global Niobium Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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