Global Niobium Market Size Study, by Type (Ferroniobium, Niobium Oxide, Niobium Metal), by Application (Structure Steels, Automotive Steel, Pipeline Steels, Stainless Steels, Others) and Regional Forecasts 2022-2032

Global Niobium Market Size Study, by Type (Ferroniobium, Niobium Oxide, Niobium Metal), by Application (Structure Steels, Automotive Steel, Pipeline Steels, Stainless Steels, Others) and Regional Forecasts 2022-2032

Global Niobium Market is valued approximately at USD 1.49 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 3.6% over the forecast period 2024-2032. Niobium, a rare, soft, malleable, ductile gray-white metal, exhibits a body-centered cubic crystalline structure and closely resembles tantalum in both physical and chemical properties. Its unique characteristics make it essential in various high-performance applications, necessitating processing in protective environments to avoid reactions with oxygen, carbon, halogens, nitrogen, and sulfur. Despite its inertness to acids at room temperature, niobium is vulnerable to hot, concentrated acids, alkalis, and oxidizing agents.

The growing need for steel in various applications is a major driver for the increased consumption of niobium. The metal's application in steel production, particularly in the form of ferroniobium, is crucial for producing high-strength, low-alloy steels used in pipelines, construction, and the automotive industry. Niobium's addition to steel not only enhances its strength but also reduces the overall steel requirement, thus lowering costs. The automotive industry’s shift towards lightweight steel and advancements in steel manufacturing processes are further propelling niobium demand.

The burgeoning demand for high-strength, low-alloy steel, particularly in the pipeline, construction, and automotive industries, significantly boosts niobium consumption. Utilized predominantly as ferroniobium, the addition of niobium enhances steel's strength and reduces overall material requirements, thereby decreasing costs. The automotive industry's shift towards lightweight steel and advancements in steel manufacturing technologies further elevate niobium demand. Consequently, this surge in product demand is projected to drive the niobium market growth over the forecast timeline. However, the limited availability of niobium and growing concerns about health issues on acute exposure pose a significant challenge, restricting its widespread adoption across various applications. This scarcity is anticipated to impede market growth during the forecast period.

The key regions considered for the global Niobium Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific is a dominating region in the Niobium Market in terms of revenue. The market growth in the region is being attributed to factors including increasing adoption in the construction industry and steel manufacturing sector. Whereas, the market in Europe is anticipated to grow at the significant rate over the forecast period fueled by the rising use of niobium in the automotive and aerospace & defense industries and rising adoption of niobium in superalloys and capacitors applications.

Major market players included in this report are:

Advanced Metallurgical

Magris Resources

NioCorp Developments Ltd.

SDMS

Taseko Mines Ltd.

Corevale Limited

Alkane Resources Ltd.

Grandview Materials Inc.

Titanex GmbH

Molycorp

Shandong Mining Machinery Group Co., Ltd.

Quantum Rare Earth Developments Corp.

Supreme Industries

Shree Industries

JP Green Fuels

The detailed segments and sub-segment of the market are explained below:

By Type:
• Ferroniobium
• Niobium Oxide
• Niobium Metal

By Application:
• Structure Steels
• Automotive Steel
• Pipeline Steels
• Stainless Steels
• Others

By Region:

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• ROE

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC

Latin America
• Brazil
• Mexico
• RoLA

Middle East & Africa
• Saudi Arabia
• South Africa
• RoMEA

Years considered for the study are as follows:

Historical year – 2022

Base year – 2023

Forecast period – 2024 to 2032

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.