Niobium Market Overview 2022-2029 | Key Players – Alkane Resources Ltd. (ASX: ALK), NIOBEC Corporation, Companhia Brasileira de Metalurgia e Mineracao (CBMM)

The market for niobium is anticipated to record a significant CAGR over the forecast period, i.e., 2021-2029. The extensive usage of niobium in the aerospace sector in hot units of aircraft turbine engines along with latest emerging technologies such as computers and internet, are some of the factors propelling the growth of the market. Further, the rising demand for compounds & oxides in the applications for electro ceramic is fostering the market growth. Moreover, for the production of high strength and low alloy steels, the demand for niobium from pipeline & automotive industries is increasing along with the surging demand for steel in emerging countries.

Research Nester published a report titled “Niobium Market – Global Demand Analysis and Opportunity Outlook 2029” which delivers detailed overview of the global niobium market in terms of market segmentation by source type, product type, application type, end user industries, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

Based on source type, the market is segmented into pyrochlore and columbite. Out of these segments, the pyrochlore segment is anticipated to witness major market share by the end of 2029 on the account of wide applications related to pyrochlore such as in automobile exhaust gas control, luminescence and ionic conductivity. Moreover, pyrochlore is rich in niobium content, which in turn, is fostering the market growth during the forecast period.

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Based on the regional analysis, the market for niobium is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The niobium market in Asia Pacific is estimated to hold the largest market share by the end of 2029 on the back of forthcoming rail and road projects along with growing production of electric vehicles in China. Further, presence of major economies such as India, China and Japan are also anticipated to lead to the soaring demand for niobium in automobile & aerospace industries.  Moreover, Japan is an emerging leader in the production of laptops, smart phones, fax machines along with other computer components, which in turn, is propelling the growth of the market. On the other hand, the market in North America region is anticipated to foresee noteworthy growth rate on the account of growing engineering construction in the region coupled with the healthy demand for consumer electronics.

Rising Demand for Niobium in the Construction Sector

The rising changes in the living standards of people along with the growing number of high-rise buildings & bridges are fostering the market growth. Further, increase in the number of infrastructures globally is resulting into healthy demand for performance-based construction materials. Additionally, rapid urbanization and replacement of old infrastructures is leading to fine demand for high strength steel, which in turn, is produced using micro alloying with niobium. The growing usage of niobium-based alloys in modern artistic constructions in order to solve the problem of fire resistance is fueling the market growth. Hence, rising investments in construction sector along with these factors is anticipated to account for the growth in the market over the forecast period.

However, limited supply of niobium along with the presence of minimum number of producers is expected to operate as key restraint into the growth of niobium market over the forecast period. This report also provides the existing competitive scenario of some of the key players of the global niobium market which includes company profiling of Alkane Resources Ltd. (ASX: ALK), NIOBEC Corporation, Companhia Brasileira de Metalurgia e Mineracao (CBMM), AMG Advanced Metallurgical Group N.V. (AMS: AMG), NioCorp Development Ltd. (TSE: NB), Titanex GmbH, and Global Advanced Metals Pty Ltd.

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