Published Date : Aug 01, 2016
ALBANY, NY, Aug 01, 2016: MarketResearchReports.biz has announced the addition of a new report, titled “Global Niobium Market 2016-2020,” to its repository. The report highlights the current scenario and the growth forecasts of the global niobium market for the 2016-2020 forecast period.
According to the report, the global market for niobium is expected to grow at a CAGR of approximately 7% between 2016 and 2020. The study provides a complete outline of the trends, future opportunities and performance of the global niobium market in past years as well as forecasts regarding its performance between 2016 and 2020.
Growth of the global niobium market is expected to be driven by factors such as the need for high-performance and compact electro-ceramics, as the progress of ultra-high-purity niobium is satisfying the need for high performance electro-ceramics. New technologies concerning mobile devices, computers, and the
Internet are being commercialized, which in turn is intensifying the growth of the global niobium market, as niobium is used in high-caliber electro-ceramics used in the formulation of advanced technologies.
The report states that Asia Pacific will be the major revenue generator in the market and is estimated to account for 51% of the total market. The booming construction industry in Asia Pacific is responsible for the increasing demand for HSLA steel, as the leading countries in this region use ferroniobium as a chemical additive for the production of HSLA steel.
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The market for niobium is oligopolistic in nature and is closely integrated, thus making it price-sensitive. It is controlled by the Brazilian vendor CBMM, which in terms of market revenue accounts for approximately 75% of the global niobium market, since the main source of niobium, pyrochlore, is found in large quantities in Brazil and the reserves of the same are owned mainly by CBMM. The global market is also thus dominated by Brazil, which accounted for 89% of the overall global supply in 2015.
The report contains segmentation by source, end products, and reports of the niobium market. It states that the pyrochlore segment will retain its dominance in the niobium market by 2020 and will occupy nearly 90% of the total market.
The report also posits that the major vendors in the market are focusing on research and development and making huge investments in it. The R&D investments include the production of niobium oxides and related compounds with smaller grain size and high purity. The use of these oxides is expected to lead to their wide application in the electro-ceramics industry.
The key players in the global niobium market are CBMM, Anglo American, Global Advanced Metals, Magris Resources, and Advanced Metallurgical. The current advancements in the production of niobium regarding its use in commercial and residential construction applications are anticipated to provide further growth prospects for the leading vendors.
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