Niobium Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Niobium Market is segmented by Occurrence (Carbonatites and Associates and Columbite-Tantalite), Type (Ferroniobium, Niobium Oxide, Niobium Metal, and Vacuum Grade Niobium Alloys), Application (Steel, Superalloys, Superconducting Magnets, Capacitors, Glass, and Other Applications), End-user Industry (Construction, Automotive and Transportation, Aerospace and Defense, Oil and Gas, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

Market Snapshot

Niobium Market Bar Graph
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >5 %
Niobium Market Major Companies

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Market Overview

The niobium market size was estimated at over 120 kiloton in 2020, and the market is projected to register a CAGR of over 5% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. Owing to the pandemic scenario, several countries across the world went into lockdown, which led to a decrease in the demand for niobium from various end-user industries, as all the manufacturing and construction activities were put on hold. This created a negative impact on the niobium market. However, the condition is expected to recover in 2021, thereby driving the market studied during the forecast period.

  • Over the medium term, accelerating usage in structural steel and increased usage in aerospace applications are driving the market's growth.
  • On the flip side, limited supply sources and the impact of the COVID-19 pandemic are hindering the growth of the market studied.
  • The construction industry dominated the market, and it is expected to grow at a healthy rate during the forecast period, as niobium-based alloys are exceptionally meeting the challenges regarding fire resistance and seismic requirement of modern artistic construction.
  • Increasing demand for high strength and lightweight steel in oil and gas pipelines is likely to act as an opportunity in the future.
  • Asia-Pacific dominated the market with the largest consumption from countries, such as China and Japan.

Scope of the Report

Niobium is a gray, lustrous, ductile metal with relatively low density, high ductility, high melting point, and superconductor properties. Niobium is majorly extracted from pegmatite minerals, such as columbite-tantalite and pyrochlore. This is a relatively rare mineral, and the order of abundance is around 24 parts per million. The niobium market is segmented by occurrence, type, application, end-user industry, and geography. By occurrence, the market is segmented by carbonatites and associates and columbite-tantalite. By type, the market is segmented by ferroniobium, niobium oxide, niobium metal, and vacuum grade niobium alloys. By application, the market is segmented by steel, superalloys, superconducting magnets, capacitors, glass, and other applications. By end-user industry, the market is segmented by construction, automotive and transportation, aerospace and defense, oil and gas, and other end-user industries. The report also covers the market size and forecasts for the niobium market in 16 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (metric ton).

Occurrence
Carbonatites and Associates
Columbite-Tantalite
Type
Ferroniobium
Niobium Oxide
Niobium Metal
Vacuum Grade Niobium Alloys
Application
Steel
Super Alloys
Superconducting Magnets
Capacitors
Glass
Other Applications
End-user Industry
Construction
Automotive and Transportation
Aerospace and Defence
Oil and Gas
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Russia
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Construction Sector to Dominate the Market

  • The construction industry is the largest consumer of niobium across the world. The major application of niobium is in the production of steel. About half of all steel produced worldwide goes to the construction industry.
  • High-strength niobium microalloyed plate products are used in the construction of bridges, viaducts, high-rise buildings, etc. Heavy machinery, pressure vessels, etc., represent additional applications of microalloyed plates.
  • Structural sections are widely used in civil construction, railway wagons, transmission towers, etc., where niobium competes with vanadium. Similarly, a steel reinforcing bar is used in large concrete structures to increase their resistance to tensile loads. Larger diameter, high-strength grades are produced via the addition of niobium and/or vanadium, although some modern steel mills also use water cooling, which negates the need for microalloying. Finally, niobium has also found application in high-strength and wear-resistant rails for railway tracks operating under high axle loads.
  • The building and construction industry is currently a thriving industry in several emerging economies of the Asia-Pacific and European regions, and this is going to drive the demand for HSLA steel, which provides cost savings through reduction of weight in buildings while also preventing infrastructure failures.
  • The Chinese government has rolled out massive construction plans, including making provisions for the movement of 250 million people to its new megacities over the next ten years, creating a major scope for the market studied.
  • The construction sector in North America has witnessed significant growth in the past few years. According to the United States Census Bureau, the value of the construction industry in the United States increased from USD 1,007.62 million in 2014 to USD 1,306.03 million in 2019. The total residential housing units authorized by building permits in March 2020 were at a seasonally adjusted annual rate of 1,353,000, representing 5% growth over the March 2019 rate of 1,288,000. The total number of privately‐owned housing starts in March 2020 was at a seasonally adjusted annual rate of 1,216,000, representing 1.4% growth over the March 2019 rate of 1,199,000.
  • The factors driving the building and construction industry are the ever-increasing populations, rapid urbanization, and the rise in purchasing power. As a result of which, investments in infrastructure are being made and are in the pipeline.
  • Adding to these, several vanity projects in the Middle East and building of commercial constructions, such as airports, etc., are expected to drive the market in the future.
  • Therefore, such robust growth in construction across the world is likely to boost the demand for the consumption of niobium during the forecast period.
Niobium Market Share

Asia-Pacific to Dominate the Market

  • Asia-Pacific dominated the global market. With accelerating usage in structural steel and growing usage in the automobile and aerospace industry in countries such as China, India, and Japan, the consumption of niobium is increasing in the region.
  • The consumption of niobium is very high in steel manufacturing in the form of ferroniobium, and the construction industry is thriving in several emerging economies, such as China and India, among others.
  • The infrastructure sector is an important pillar of the Indian economy. The government is taking various initiatives to ensure the timely creation of excellent infrastructure in the country. The government is focusing on railways, road development, housing and urban development, and airport development.
  • India is likely to witness an investment of around USD 1.3 trillion in housing over the next seven years, where the country is likely to witness the construction of 60 million new homes. The availability of affordable housing is expected to rise around 70% by 2025 in India.
  • Currently, China is majorly focusing on increasing the production and sale of electric vehicles in the country. For this purpose, the country planned to increase the production of electric vehicles (EVs) to 2 million a year by 2020, and 7 million a year by 2025. The target, if achieved, will increase the share of electric vehicles to 20% of total new car production for China by 2025. This is further likely to increase the production of vehicles in the country in the coming years.
  • China has been replacing the use of vanadium from niobium or a compound of both in the steel industry, especially to produce rebars. Thus, the demand for niobium is expected to increase in the future.
  • Japan’s electrical and electronics industry is also one of the world’s leading industries. The country is a world leader in the production of video cameras, compact discs, computers, photocopiers, fax machines, cell phones, and various other key computer components.
  • Consumer electronics account for a third of Japan's economic output. There has been a constant rise in the demand for consumer electronics from the country due to its durability and quality.
  • Similarly, in Australia, the building and construction sector contributes around 8% of the GDP. The country is expected to recover, with non-residential building activity and engineering construction increasing in the next two years, owing to the upcoming major road and rail projects, which may further uplift the consumption of steel during the forecast period.
  • The COVID-19 has presented a problematic situation for niobium in the region in early 2020. However, the conditions got better now, which concreted the probability of market recovery over the forecast period.
Niobium Market Geography Trends

Competitive Landscape

The niobium market is an oligopolistic market, with three major mining companies, including CBMM, China Molybdenum, and Niobec, contributing to around 98% of the global supply. The largest and currently operating niobium deposit is located at Araxa, and it is owned and explored by Companhia Brasileira de Metalurgia e Mineração (CBMM).

Recent Developments

  • In January 2020, NioCorp Developments Ltd secured legal agreements with several additional southeastern Nebraska landowners, primarily to extend the company’s options for purchasing land parcels. These are planned for use as part of its proposed Elk Creek Superalloy Materials Project. This agreement covers a total of 226 acres of land.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Accelerating Usage in Structural Steels

      2. 4.1.2 Increasing Usage in Aerospace Applications

    2. 4.2 Restraints

      1. 4.2.1 Limited Supply Sources

      2. 4.2.2 Impact of the COVID-19 Pandemic

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Price Analysis

    6. 4.6 Technological Snapshot

  5. 5. MARKET SEGMENTATION (Market Size in Volume)

    1. 5.1 Occurrence

      1. 5.1.1 Carbonatites and Associates

      2. 5.1.2 Columbite-Tantalite

    2. 5.2 Type

      1. 5.2.1 Ferroniobium

      2. 5.2.2 Niobium Oxide

      3. 5.2.3 Niobium Metal

      4. 5.2.4 Vacuum Grade Niobium Alloys

    3. 5.3 Application

      1. 5.3.1 Steel

      2. 5.3.2 Super Alloys

      3. 5.3.3 Superconducting Magnets

      4. 5.3.4 Capacitors

      5. 5.3.5 Glass

      6. 5.3.6 Other Applications

    4. 5.4 End-user Industry

      1. 5.4.1 Construction

      2. 5.4.2 Automotive and Transportation

      3. 5.4.3 Aerospace and Defence

      4. 5.4.4 Oil and Gas

      5. 5.4.5 Other End-user Industries

    5. 5.5 Geography

      1. 5.5.1 Asia-Pacific

        1. 5.5.1.1 China

        2. 5.5.1.2 India

        3. 5.5.1.3 Japan

        4. 5.5.1.4 Australia

        5. 5.5.1.5 Rest of Asia-Pacific

      2. 5.5.2 North America

        1. 5.5.2.1 United States

        2. 5.5.2.2 Canada

        3. 5.5.2.3 Mexico

      3. 5.5.3 Europe

        1. 5.5.3.1 Germany

        2. 5.5.3.2 United Kingdom

        3. 5.5.3.3 Italy

        4. 5.5.3.4 France

        5. 5.5.3.5 Russia

        6. 5.5.3.6 Rest of Europe

      4. 5.5.4 South America

        1. 5.5.4.1 Brazil

        2. 5.5.4.2 Argentina

        3. 5.5.4.3 Rest of South America

      5. 5.5.5 Middle-East and Africa

        1. 5.5.5.1 Saudi Arabia

        2. 5.5.5.2 South Africa

        3. 5.5.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Admat Inc.

      2. 6.4.2 Alkane Resources Ltd

      3. 6.4.3 CBMM

      4. 6.4.4 China Molybdenum Co. Ltd

      5. 6.4.5 Changsha South Tantalum Niobium Co. Ltd

      6. 6.4.6 Dneprovsky Special Tubes Plant LLC

      7. 6.4.7 Grandview Materials

      8. 6.4.8 NIOBEC (Magris Resources Inc.)

      9. 6.4.9 NioCorp Development Ltd

      10. 6.4.10 Shaanxi Getwick Nonferrous Metals Co. Ltd

      11. 6.4.11 Titanex GmbH

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Niobium Replacing Other Metals

    2. 7.2 Innovative Techniques and Mine Designing

**Subject to Availability

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Frequently Asked Questions

The Niobium Market market is studied from 2016 - 2026.

The Niobium Market is growing at a CAGR of >5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

CBMM, NIOBEC (Magris Resources Inc.), China Molybdenum Co. Ltd are the major companies operating in Niobium Market.

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