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Niobium Carbide Market

Niobium Carbide Market

Niobium Carbide Market Analysis By Purity (2N, 3N, 4N, 5N), By Application, (Carbide Alloys, Coating Materials, Metallurgical, Cutting & Machining), By Form (Flakes, Powder, Sputtering Target), By Region - Global Forecast 2022-2032

Niobium Carbide Market
FACT7534MR

Niobium Carbide Market Outlook (2022-2032)

Latest industry analysis by Fact.MR has revealed that the global niobium carbide market is expected to expand at a CAGR of 5.1% to reach a market valuation of US$ 95.5 million by 2032, up from its current size of US$ 58.5 million.

Worldwide sales of niobium carbide increased at 2.5% CAGR between 2017 and 2021, with North America accounting for more than one-fifth market share.

Report Attributes

Details

Niobium Carbide Market Size (2022E)

US$ 58.5 Million

Forecasted Market Value (2032F)

US$ 95.5 Million

Global Market Growth Rate (2022-2032)

5.1% CAGR

North America Market Share (2021)

~21.3%

North America Market Growth Rate (2022-2032)

5.3% CAGR

U.S. Market Growth Rate (2022-2032)

5.6% CAGR

Market Share of Top 5 Companies

~36%

Key Companies Profiled

  • H.C. Starck
  • Japan New Metals
  • ESPI Metals
  • Stanford Advance Materials
  • Changsha Langfeng Metallic Material
  • NanoShel
  • PPM Ltd.
  • Ultramet

As per Fact.MR, the global niobium carbide market is projected to generate an absolute dollar opportunity of US$ 37.1 million over the forecast period (2022-2032.

Niobium carbide is a ceramic-grade material that is very hard and used in tool bits for cutting tools as an industrial application. Through sintering, it is added to cemented carbide as an additive for inhibiting grain growth.

Interested to Procure The Data

Consumption Analysis of Niobium Carbide (2017-2021) Vs. Market Outlook (2022-2032)

As per the in-depth market analysis by Fact.MR, a market research and competitive intelligence provider, the market value for niobium carbide increased at a CAGR of 2.5% during the last four years.

Niobium is a key raw material used in the making of niobium carbide. A majority of the world’s niobium production is concentrated in Brazil, with over 90% of the niobium being used as ferroniobium. China is the biggest importer of niobium in the world.

Different types of carbides such as tantalum carbides, niobium carbides, and their mixers help in improving the desired results and performance of carbide alloys and their cutting tools.

Niobium carbide is majorly used for the preparation of metal-ceramic materials, wear-resistant and high-temperature materials, high-temperature vacuum devices in mechanical processing, metallurgical applications, and various other industries. Cermets based on niobium carbide are highly suitable for machining steel materials with extreme hard gear, and aluminium alloys as well.

The global market for niobium carbide is forecasted to progress at a CAGR of 5.1% over the decade and reach US$ 95.5 million by the end of 2032.

Niobium carbide market forecast by Fact.MR

Why are Sales of Niobium Carbide Continuously Rising?

“Niobium Carbide Pricing Expected to Decrease Going Forward”

Niobium carbide is still in a very nascent stage. An increase in consumption will gradually decrease the price and make it even more affordable as compared to its alternatives that are currently used in the market.

In recent years, due to the high prices of tantalum carbide, a few manufacturers / hard metal producers have started using niobium carbide instead tantalum carbide. This is due to the low cost of niobium carbide as compared to tantalum carbide. This is a major factor contributing to an increase in the demand for niobium carbide.

“Beneficial Properties of Niobium Carbide”

Cutting tools that are made from niobium carbide have better thermal hardness, impact, and oxidation resistance. Niobium carbide can be easily infused in various other carbides such as titanium carbide, zirconium carbide, etc.

Country-Wise Analysis

Why is China One of the Most Important Markets for Niobium Carbide Suppliers?

Niobium is hardly explored as a carbide; the functional profile/properties of niobium present a huge potential for wear protection and tribological applications. This application currently uses tungsten carbide. Niobium gives low friction in various tribo contacts and also displays quite a low wear as compared to its alternates.

Niobium-based carbides are also fabricated for energy storage. It is also used in processes such as Physical Vapor Deposition (PVD) and Chemical Vapor Deposition (CVD).

China is the largest importer of niobium ore, a key raw material for niobium carbide. Growing end-use industries and the use of machines and precision tools are driving the demand for niobium carbide in China.

Category-Wise Analysis

For Which Application is Niobium Carbide Usage Prominent?

Tools made from niobium carbide powder provide efficient and effective metal cutting. More than metal cutting, the importance of machining composite materials with high performance is growing in the automotive sector. It also helps in reducing the weight of machining equipment and various other dynamic applications.

The most important feature is that they are known as non-toxic materials and are environment-friendly. The feature of high chemical stability has reduced the need for extra coating required for hot machining applications.

Due to the above factors, cutting and machining applications across industries are high demand niobium carbide generators among various other applications, and the segment is expected to account for 32.5% market share in 2022.

Competition Landscape

H.C. Starck, Japan New Metals, ESPI Metals, Stanford Advance Materials, Changsha Langfeng Metallic Material, NanoShel, PPM Ltd., and Ultramet are leading niobium carbide manufacturers.

Fact.MR has provided detailed information about the various strategies adopted by key players in the niobium carbide market, along with detailed sales analysis of niobium carbide, top niobium carbide manufacturers, top 2N / 3N niobium carbide suppliers, SWOT analysis, sales generated from target niobium carbide products, and the top niobium carbide manufacturers positioned across geographies.

An Adaptive Approach to Modern-day Research Needs

Key Segments Covered in Niobium Carbide Industry Research

  • Niobium Carbide Market by Purity :

    • 2N Niobium Carbide
    • 3N Niobium Carbide
    • 4N Niobium Carbide
    • 5N Niobium Carbide
  • Niobium Carbide Market by Application :

    • Carbide Alloys
    • Coating Materials
    • Mettallurgical
    • Cutting & Machining (In Tool bits)
    • Others
  • Niobium Carbide Market by Form :

    • Flakes
    • Powder
    • Sputtering Target
  • Niobium Carbide Market by Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South East Asia & Oceania
    • Middle East & Africa

- FAQs -

Currently, the global niobium carbide market stands at US$ 58.5 million.
Niobium carbide consumption is anticipated to rise at a CAGR of 5.1% through 2032.
Worldwide sales of niobium carbide increased at 2.5% between 2017 and 2021.
H.C. Starck, Japan New Metals, ESPI Metals, Stanford Advance Materials, Changsha Langfeng Metallic Material, NanoShel, PPM Ltd., and Ultramet are major manufacturers of niobium carbide.
Capacity expansion and R&D with end-use industries are being pursued by the top industry players.
North America is estimated to hold 21.3% of the global niobium carbide market share by 2032.

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