Niobium Market Present Scenario and Growth Prospects 2016-2020

Global Niobium Market 2016-2020 report is the latest addition to RnRMarketResearch.com industry research reports collection.

Niobium is a refractory metal that is valued for its unique chemical properties, including extraordinary resistance to heat and wear and inertness. It has a high melting point of 4,474.4°F and a boiling point of 8,900.6°F. It is used as an alloying element in steel production in the form of ferroniobium (Fe-Nb).

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The analysts forecast global niobium market to grow at a CAGR of 7.5% during the period 2016-2020. A trend helping to boost market growth is the advancement of high-performance electroceramics. The growth of ultra-high-purity niobium in particular grain sizes and tight distributions is escalating the development of high-performance electroceramics. The electronics market has experienced significant changes in the past few decades. The need for compact, high-performance electroceramics has elevated due to the growth and commercialization of new technologies such as computers, mobile devices, and the Internet.

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Niobium market is a key growth driver is the extensive use of niobium in steel production. Globally, the steel industry consumes a considerable amount of niobium. Niobium increases the toughness, strength, and weldability of steel products. Among flat steel products, it is used in the production of hot-rolled and cold-rolled steel strips and high-strength steel plates. Among long steel products, it is used for strengthening wire rods, reinforcing bars, structural sections, and rail steels. Therefore, the steel market has a significant impact on the demand for niobium

This report, Global Niobium Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from...