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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.

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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.

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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.
  

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