According to a new report published by Fact.MR, a market research and competitive intelligence provider, the global market is worth $58.5 million and is expected to grow at a CAGR of 5.1% through 2032.
Niobium carbide powder has a high level of hardness and melting point. This allows it to be used for refractory materials with high temperatures and hardness. It is also used in jet engine turbine blades, valves, cutting tools, and other applications. Niobium carbide is highly preferred over tantalum carbide as an additive to cemented carbide because it is chemically stable.
- NiobelCon has been conducting extensive research to discover the full potential of niobium carbide in a variety of hard material applications. This study is also concerned with the development and qualification of NbC-based alloy systems. This research is being conducted by the company in collaboration with KU Leuven (MTM) and the Federal Institute for Materials Research and Testing (BAM)..
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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
Key Takeaways from Market Study
- More than 90 percent of niobium is used as ferronobium in the steel industry. A very small share of the rest is used to make niobium carbide.
- Niobium carbide sales have reached 1,260 tons in the few past years.
- Niobium carbide is one of the major substitutes for tantalum carbide. Hard metal producers are focusing on replacing tantalum carbide with niobium carbide so that they can compensate for the rising prices of cobalt.
Competition Landscape
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.
Key Companies Profiled
- H.C. Starck
- Japan New Metals
- ESPI Metals
- Stanford Advance Materials
- Changsha Langfeng Metallic Material
- NanoShel
- PPM Ltd.
- Ultramet
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Winning Strategy
An important strategy for market participants in the niobium carbide market is to set up production facilities in appropriate locations and invest in the research and development of innovative products to meet the demands of end-use industries.
Manufacturers need to increase capacity, focus on sustainability, and aim to deliver innovative products tailored to the individual needs of end users. In addition, end-user collaboration is an important strategy for niobium carbide manufacturers to recognize the needs of industries and develop application-specific products that serve different customers across all regions.