For Immediate Release
22 May 2025
Niobium Review & Outlook, First Half 2025 – Now available
The niobium market has long been dominated by the steel industry, which accounts for roughly 90% of total consumption in terms of Nb units. While this dominance will remain, demand for niobium in steel is mature and, in CPM’s view, is likely to show compounded annual growth of only 1.5% to 2.5% over the coming decade.
The outlook for niobium demand in non-steel market segments is very different. CPM projects overall compounded growth in non-steel applications at about 11%, varying from 4% to 27%, with total demand almost tripling by 2035.
Topics Covered:
- The outlook for niobium supply from existing industrial and artisanal mines, and from the principal projects in the pipeline.
- The key trade flows in niobium concentrates and downstream products, in terms of contained niobium and not simply gross weights.
- How niobium concentrate prices are expected to change over the coming decade.
- The key drivers of demand in established market segments, such as superalloys (jet engines and land-based gas turbines) and superconductors (mainly MRI systems).
- The projected growth of lithium-ion battery cathodes and nanocrystalline soft magnets projected.
Deliverables:
- 115-page pdf
- Excel databook: supply, demand, price, trade
- Excel International Trade Data
Pricing and Options:
Single Report: US $13,500
Annual Program: $20,000
Learn more about CPM Group’s Niobium and Other Critical Mineral Services
Table of contents
Executive summary 10
1.1 Non-steel niobium market 10
1.1.1 Supply 10
1.1.2 Demand 11
1.1.3 Prices 14
1.2 Ferroniobium market 15
1.2.1 Supply 15
1.2.2 Demand 16
1.2.3 Prices 17
1.3 Niobium market balance 18
Supply 19
2.1 Supply in 2023 and 2024 19
2.2 Processors 21
2.3 Project pipeline 23
Non-steel niobium demand 26
3.1 Consumption in 2024 26
3.2 Outlook to 2035 26
3.2.1 Macroeconomic environment 26
3.2.2 Demand forecast 27
Non-steel niobium markets 29
4.1 Nickel-based superalloys 29
4.1.1 Major applications and demand outlook 30
4.1.2 Overall demand for superalloys 33
4.2 Nanocrystalline soft magnets 33
4.2.1 Nanocrystalline magnet materials – recapitulation 33
4.2.2 Major applications 35
4.3 High field-strength superconductors for MRI systems 43
4.4 Lithium niobate 44
4.4.1 Non-RF applications 45
4.4.2 Defence and aerospace systems 46
4.4.3 LN demand in RF and optics 46
4.5 Lithium-ion batteries 47
4.5.1 Cathode compounds 47
4.5.2 Anode compounds 49
4.6 Carbides 52
4.7 Rocket engine and hypersonic alloys 52
4.8 Niche and emerging applications 53
Non-steel niobium production costs and prices 55
5.1 Production costs 55
5.2 Niobium concentrate prices 57
5.2.1 Columbite supply sources and grades 57
5.2.2 Historic columbite pricing 58
5.2.3 Recent price trends 59
5.2.4 Price outlook 59
International trade in niobium (excluding ferroniobium) 63
6.1 Niobium ores and concentrates 64
6.1.1 Exports 65
6.1.2 Imports 70
6.2 Niobium compounds 74
6.2.1 Niobium oxide 74
6.2.2 Other 77
6.3 Niobium metal exports 78
Ferroniobium market 86
7.1 Ferroniobium supply 86
7.1.1 Raw materials 86
7.1.2 Production process 87
7.1.3 Production costs 87
7.1.4 Historical supply of ferroniobium 88
7.2 Uses of ferroniobium in steel 90
7.3 International trade in ferroniobium 91
7.3.1 Exports 92
7.3.2 Imports 93
7.4 Ferroniobium prices 94
7.5 Outlook to 2035 95
7.5.1 Ferroniobium supply and demand 95
7.5.2 Prices 100
Annexes 102
8.1 Niobium producers 102
8.1.1 AMG Brazil 102
8.1.2 China Molybdenum (CMOC) 102
8.1.3 Companhia Brasileira de Metalurgia e Mineração (CBMM) 103
8.1.4 Lovozero Mining-Concentrating Combine 105
8.1.5 Magris Resources 105
8.1.6 Mineração Taboca 106
8.1.7 Strategic Minerals Europe 107
8.1.8 Yichun Tantalum & Niobium Mine 107
8.2 Niobium processors 107
8.2.1 F&X Electro-Materials 107
8.2.2 Mitsui Mining and Smelting 107
8.2.3 Neo Performance Materials (NPM) Silmet 107
8.2.4 Ningxia Nonferrous 108
8.2.5 Solikamsk Magnesium Works 108
8.2.6 Taniobis 109
8.2.7 Ulba 110
8.2.8 Ximei Group 110
8.3 Nanocrystalline magnet manufacturers (selected) 111
8.3.1 Advanced Technology & Materials 111
8.3.2 China Amorphous Technology 111
8.3.3 Magnetics 111
8.3.4 Metglas 112
8.3.5 Proterial 112
8.3.6 Qingdao Yunlu Advanced Materials Technology 112
8.3.7 Shaanxi Gold-Stone Electronics 112
8.3.8 Transmart Industrial 112
8.3.9 Vacuumschmelze 113
8.4 Companies active in non-RF lithium niobate markets (selected) 113
8.4.1 CASTECH 113
8.4.2 China Electronics Technology Group 113
8.4.3 Coherent Photonics 113
8.4.4 Crylink 113
8.4.5 EOSPACE 113
8.4.6 Exail 114
8.4.7 Freqcontrol 114
8.4.8 GWU-Lasertechnik 114
8.4.9 HyperLight 114
8.4.10 iXblue 114
8.4.11 Photonchina 114
8.4.12 Quantum Computing (QCi) 114
8.4.13 Raicol Crystals 115
8.4.14 Rofea 115
8.4.15 Thorlabs 115
8.4.16 WISOPTIC 115
8.5 Leading manufacturers of MRI systems 115
8.5.1 Canon 115
8.5.2 GE 115
8.5.3 Hitachi 116
8.5.4 Philips 116
8.5.5 Shenzhen Basda Medical 116
8.5.6 Siemens 116
8.5.7 Wandong Medical 116
8.5.8 Xingaoyi Medical Equipment 116
