Niobium Industry Outlook

Abundant niobium resources and stable price for a long time are favorable conditions for expanding the usage and developing application fields. Niobium in the steel industry, aerospace industry, petrochemical industry, electronics industry and other fields of application is booming. According to the U.S. Bureau of Mines forecast, niobium consumption in the next 10 years will be 611% of the annual growth rate, to the end of the century, the world's consumption of niobium will reach 318 ~ 515 million tons. Iron and steel industry is still the main consumer of niobium, niobium-containing high-strength low-alloy steel production has accounted for 3% to 4% of the world's total steel production, is expected by the end of this century, its production may reach 15% to 20% of the world's total steel production. At present, the competitive development of niobium-containing high-strength low-alloy steel has become an inevitable trend of the development of technology in advanced industrialized countries, and it is an important means to improve the quality of steel for countries with less steel production.