Published by Wanda Rich
Posted on April 7, 2025
Use of Ferroniobium to be Extensive in HSLA Steel Production for Enhanced Strength and Toughness: Fact.MR Report
The global ferroniobium marketis estimated to reach a valuation of US$ 3.06 billion in 2024. According to the report published by Fact.MR, from 2024 to 2034, worldwide demand for ferroniobium is forecasted to increase at a CAGR of 6.5%.
There is growing need for ferroniobium across diverse sectors such as steel, automotive, aerospace, oil and gas, and energy production. Serving as a microalloying element, ferroniobium is utilized to enhance the strength, toughness, and weldability of steel. The projected rise in demand for high-strength low-alloy (HSLA) steels is poised to propel the worldwide ferroniobium market.
Key Takeaways from the Market Study:
“Ferroniobium improves properties of stainless steel, reduces vehicle weight, and enhances fuel efficiency in the automotive sector. The market is expected to grow due to the demand for lightweight materials. In the long term, powder-based ferroniobium demand is projected to be driven by environmental sustainability awareness, particularly in automotive recycling,” says a Fact.MR analyst.
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Rising Global Crude Steel Production Fuels Ferroniobium Demand
The latest trends in the ferroniobium market highlight a surge in global crude steel production as a primary driver of demand for ferroniobium. This critical alloying element enhances stainless steel grades and high-strength low-alloy (HSLA) steels. In 2024, global crude steel output is projected to grow by 3.3% year-over-year, reaching 145.5 million tons.
Developing nations like China and India are heavily investing in infrastructure and steel production to stimulate economic growth. The booming industrial and construction sectors further amplify steel demand for applications in infrastructure, factories, machinery, appliances, and real estate.
Ferroniobium improves steel’s performance and fabrication, with just 0.1% added to steel boosting its strength significantly. Steel industry players are leveraging ferroniobium to innovate high-strength steel products and alloys for advanced uses in infrastructure, energy, and transportation. Brazil accounts for roughly 90% of global niobium production, with additional reserves in Africa, the United States, Australia, Canada, and Russia.
Push for Lightweight Vehicles to Cut Carbon Emissions Drives Niobium Use
With governments worldwide prioritizing reduced carbon emissions and improved fuel efficiency, lightweight materials are gaining traction in automotive manufacturing. Adding just one kilogram of niobium to a ton of steel reduces component weight by 10% while enhancing strength and durability. Niobium-based alloys are increasingly vital in producing high-performance vehicles and engines, supported by growing demand in cutting-edge technologies like space travel and fast-charging, safe electric vehicle batteries.
A standout example of niobium’s role in advanced technology is the niobium-intensive ITER (International Thermonuclear Experimental Reactor) project in France. This 35-nation collaboration seeks to harness solar-like fusion energy for commercial-scale, emission-free power generation, potentially transforming the future of sustainable energy.
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Market Development
Market players are focusing on providing superior quality products and are committed to customer service excellence. Companies are looking to set up new production plants to meet growing product demand. Maintaining long-term relationships with suppliers and distributors to procure raw materials early is a key strategy being followed by several ferroniobium producers.
Key Market Players:
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the ferroniobium market, presenting historical market data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights based on form (lumps, fines, briquettes), grade (standard, high purity), and end use (HSLA production, stainless steel production, others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia and Oceania, and the Middle East & Africa).
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