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Recognition of Niobium Carbide as Substitute for Tantalum Carbide to Ensure Consistent Demand, Opines Fact.MR

·7-min read
FACT.MR
FACT.MR

Continuous Research & Development and Capacity Expansions to Remain the Mainstay of Key Market Players across Regions

Seoul, South Korea, July 05, 2022 (GLOBE NEWSWIRE) -- As per the new report released by Fact.MR, a market research and competitive intelligence provider, the global market has reached a valuation of US$ 58.5 million and is expected to expand at a CAGR of 5.1 % through 2032.

The powder form of niobium carbide has a high level of hardness and melting point. This helps in using it for refractory materials with high temperature levels and hardness. It is also being used in jet engine turbine blades, valves, cutting tools, etc. Niobium carbide provides good stability to chemical agents and is used as an additive to cemented carbide, being highly preferred over tantalum carbide.

For Critical Insights on Niobium Carbide Market, Request a Sample Report
https://www.factmr.com/connectus/sample?flag=S&rep_id=7534

NiobelCon has been conducting extensive research to find the complete use of niobium carbide in various hard material applications. This research is also focused on developing and qualifying NbC-based alloy systems. The company is doing this research in collaboration with KU Leuven (MTM) and the Federal Institute for Materials Research and Testing (BAM).

Hard materials that are based on niobium carbide can be used for industrial applications such as tools for cutting, drilling, etc. Tungsten carbide is a widely used material today, which will be replaced by niobium carbide in the future due to its better application, results, and cost-effectiveness.

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.

To learn more about Niobium Carbide Market, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=7534

Key Segments Covered in the Niobium Carbide Industry Survey

  • 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

Competitive 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.

Get Customization on Niobium Carbide Market Report for Specific Research Solutions
https://www.factmr.com/connectus/sample?flag=RC&rep_id=7534

Key players in the Niobium Carbide Market

  • H.C. Starck

  • Japan New Metals

  • ESPI Metals

  • Stanford Advance Materials

  • Changsha Langfeng Metallic Material

  • NanoShel

  • PPM Ltd.

  • Ultramet

Key Takeaways from Niobium Carbide 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.

Fact.MR’s Domain Expertise in Chemicals and Materials Division

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemicals and materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs.

With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the chemicals and materials division across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

Explore More Chemical and Materials Industry Reports:

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Dyes and Pigments Market- The global dyes and pigments market size is expected to reach US$ 38 billion by 2031. The dyes and pigments market is projected to grow at a moderate CAGR of over 3% during the forecast period.

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Hard Coatings Market- The global hard coatings market revenue topped US$ 750 Mn in 2020, in spite of recessionary impacts induced by the COVID-19 pandemic. Sales remained high amid high uptake in the food processing industry. Future prospects are likely to receive significant nudge, with the market anticipated to reach a valuation exceeding US$ 1 Bn by 2031.

Automotive Ceramics Market- The market for automotive ceramics experienced steady growth until 2020, closing in at approximately US$ 2 Bn amid high deployment across several automotive allied industrial domains, most notably across electronics manufacturing. A new forecast by Fact.MR anticipates demand for automotive ceramics to expand 1.4X from 2021 to 2031.

Solid State Battery Market- In 2020, the global Solid State Battery Market were valued at US$ 56.9 million. At around 30% CAGR, projected market growth during 2021 - 2031 is expected to be significantly higher than previous years. By 2031, the market for portable solid state batteries is expected to account for an absolute dollar opportunity of nearly US$ 911 Mn.

Stone Paper Market- Recently released stone paper business analysis by Fact.MR, a market research and competitive intelligence provider, reveals that the market is estimated to grow 1.8X by the end of 2031. Advertising and marketing captures a lion’s share of the demand for stone paper with 1.5% Y-o-Y growth in FY2020 as compared to FY2019.

Biofuels Market- Newly-released biofuels industry analysis by Fact.MR reveals that global revenue from the sales of biofuels in 2020 was US$ 134 Bn. The industry is likely to expand at a CAGR of 4.8% during 2021 – 2031. Bioethanol is expected to be the highest revenue generating segment, accounting for an absolute dollar opportunity of nearly US$ 53.6 Bn over the next ten years.

Aerospace Composites Market- Aerospace Composites Industry analysis shows that the global market was valued at US$ 32 Bn in 2020, and is projected to top US$ 56 Bn by 2031, expanding at an impressive CAGR of 9% across forecast period as per Fact.MR's report.

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