Global Niobium Market To Grow At A CAGR Of 7.1% During 2018-2022

Date: 2018-03-08

Niobium, formerly columbium, is a chemical element with symbol Nb and atomic number 41. It is a soft, grey, ductile transition metal, often found in the minerals pyrochlore and columbite. Niobium is used in various superconducting materials. These superconducting alloys, also containing titanium and tin, are widely used in the superconducting magnets of MRI scanners.

The major positive impact to production of Niobium is steel producers gained better understanding of the benefits of using ferroniobium in steel, according to research, the global Niobium market is expected to grow at a CAGR of 7.1% during 2018-2022.

In terms of end users, the major industries driving the steel market are the automotive, construction, household appliances, and mechanical machinery industries. Automotive is expected to maintain the largest contributor to the market for the forecast period; also the rising urbanization demands rapidly owing to rapid industrialization augment the Niobium market for the forecast period.

Geographically, the Asia-Pacific is the largest consumer of Niobium, and also the largest producer around the world due to growing construction and transportation end-use industries of the region. For the western areas, consumption of niobium in non-steel market segments, such as high performance alloys, remains concentrated in the USA, Western Europe and Japan. These are used in aerospace and land-based power generation. These markets show trends that generally mirror overall economic trends very closely and future growth in demand for niobium will reflect that of the global economy.

Global top manufacturers operating in Niobium Market are CBMM, AngloAmerican, Niobec, China Moly, Baoji Honest Metal Materials, Zhuzhou Orient Kylin Special Metal Materials, Shaanxi Getwick Nonferrous Metals, Shaanxi Elade New Material Technology, Taseko Mines, Grandview Materials, Titanex GmbH, Titan Metal Fabricators, Changsha South Tantalum Niobium among others.

Global Niobium market share by geography as following:

Read Full Report: http://www.gosreports.com/global-niobium-market-report-and-forecast-to-2021/

Joanna | Executive – International Business and partner Relations
E-mail: info@gosreports.com | Tel: 510-400-8520
Web: www.gosreports.com
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