Niobium Capacitor Market- Forecast, 2023-2028

Niobium Capacitor Market Overview

The Niobium Capacitor Market Size is forecast to reach $ 10231 Million by 2030, at a CAGR of 9.54% during forecast period 2024-2030.Rapid digitalization, technological advancements in capacitors, growing need for electric circuitry across multiple industry verticals, growing adoption of electric vehicles and growing market demand for consumer electronics are propelling the growth of the Niobium Capacitor industry. Additionally, the cost-effectiveness of niobium-based capacitors in comparison to their tantalum-based counterparts is also driving market growth. As electronic circuitry has become more complex over the last decade, the number of capacitors per active device has increased. As a result, Niobium oxide and niobium pentoxide are being readily used in the production of electronic circuitry and ceramic capacitors. Advances in the production of valve metal quality niobium have also enabled the successful production of niobium-based solid electrolytic capacitors. These aforementioned factors would positively influence the Niobium Capacitor industry outlook during the forecast period.

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Niobium Capacitor Market?Report Coverage

The report: “Niobium Capacitor Industry Outlook – Forecast (2024-2030)”?by IndustryARC, covers an in-depth analysis of the following segments in the Niobium Capacitor industry.

By Product Type: Solid Electrolytic Capacitor and Liquid Electrolytic Capacitor.

By Material: Niobium Oxide, Niobium Pentoxide, Niobium Powders and Others.

By Capacitance: 10-100μF, 100-300μF, 300-470μF and Above 470μF.

By End-use Industry: Consumer Electronics, Automotive, Industrial, Aerospace and Defense, Power and Energy and Others.

By Geography: North America (the US, Canada and Mexico), South America (Brazil, Argentina and Others), Europe (the UK, Germany, France, Italy, Spain and Others), APAC (China, Japan, South Korea, India, Australia and Others) and RoW (the Middle East and Africa).

Key Takeaways

• In the Niobium Capacitor market report, the niobium oxide segment is expected to grow at a significant CAGR of 10.5%, owing to factors such as growing demand for high-powered electronic circuits and rising demand for consumer electronics.
• The automotive application segment is expected to grow at a significant CAGR of 10.1% due to the growing incorporation of autonomous technologies and increasing adoption of electric vehicles.
• North America had the largest share?in the global Niobium Capacitor Market size?with a market share of 34%, due to the growing demand for consumer electronics, government initiatives towards the adoption of electric vehicles and the presence of major manufacturers.

Niobium Capacitor Market Value Share, by Global Region, 2022 (%)

Niobium Capacitor Market Segment Analysis - by Material

Based on material, the Niobium oxide segment in the Niobium Capacitor Market report had the highest share and it is analyzed to grow with a significant CAGR of 10.5% during the forecast period 2023-2028. The growing use of capacitors in high-power electronic circuits and consumer electronics is driving up demand for?niobium oxide materials. Niobium capacitors are polarized capacitors with anodes made of either niobium metal or niobium oxide and a dielectric medium made of an insulating niobium pentoxide layer. These capacitors determine the electronic system's stability and reliability, making them one of the most important components in any electronic design. In February 2020, AVX Corporation launched an updated version of the SpiCAT. SpiCAT is a tool widely used for accurate parametric characterization of niobium oxide capacitors and it also increases reliability and enhances multi-functionality across domains. Such developments boost the demand for niobium oxide and thus help grow the Niobium Capacitor Market size.

Niobium Capacitor Market Segment Analysis - by End-use Industry

Based on the end-use industry, the automotive segment in the Niobium Capacitor Market report is analyzed to grow at the highest CAGR of 10.1% during the forecast period 2023-2028. This growth is due to factors such as the increasing adoption of electric vehicles and autonomous vehicle technologies, government mandates for vehicles with advanced driver-assistance systems?and increased use of advanced electronic devices in the automobile industry to ensure vehicle safety. In December 2021, Murata Manufacturing Co. Ltd. launched GCM31CC71C226ME36, an MLCC for automotive safety applications. The small size of these capacitors increases the capacitance and thereby improves automobile safety. These developments would boost the adoption of niobium capacitors in the Automotive Sector and, thereby, positively influence the Niobium Capacitor Industry Outlook.

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Niobium Capacitor Market Segment Analysis - by Geography

North America dominated the global Niobium Capacitor Market with a market share of 34% in 2022. The region is also analyzed to have significant growth over the forecasting period. Rising consumer demand for electronic devices, government initiatives encouraging the use of electric vehicles and continuous R&D investments by major manufacturers are driving the market growth in this region. In May 2021, Auxico Resources Canada Inc., became a member of the Tantalum-Niobium International Study Centre. The organization includes 80 member companies from over 30 countries involved in the entire value chain of tantalum and niobium products. These developments fuel the Niobium Capacitor industry in the North American Market.

Niobium Capacitor Market Drivers

High demand for industrial capacitors from the construction sector:

Niobium-based capacitors are resistant to corrosive chemicals even at high temperatures and are thus used to make chemical equipment. Niobium metal plates, sheets, wire, rods and tubing are used in sputtering targets, cathode protection systems for large steel structures and chemical processing equipment. This drives the niobium capacitor market growth. With the growing construction activities globally, the demand for niobium-based capacitors is projected to increase during the forecast period. In September 2020, according to a report by Federal Reserve Economic Data, total residential construction spending in the U.S. accounted for US$657,608, which was US$642,031 in August 2020. This rapid growth in the construction sector also influences the Niobium Capacitor industry outlook during the forecast period.

Increasing electric vehicles penetration in the automotive sector:

The rising popularity of electric vehicles along with government initiatives such as tax cuts and subsidies for electric vehicle adoption would boost the demand for niobium-based capacitors in electric vehicles. This would eventually boost the Niobium Capacitor Industry over the forecast period. Due to the steady flow of electric charge and the usage of solid electrolytic capacitors in DC/DC converters and motor generators, the adoption of niobium capacitors is constantly increasing. In September 2021, CBMM, Toshiba Corporation and Sojitz Corporation signed a joint development agreement to commercialize next-generation lithium-ion batteries for electric vehicles with niobium-titanium oxide (NTO) as the anode material. Such developments would propel the Niobium Capacitors Industry forward during the forecast period.

Niobium Capacitor Market Challenges

The complex extraction process of raw materials:

The extraction of Niobium is a critical process that poses a significant challenge. This may impede market growth during the forecast period. A vast amount of unexplored niobium resources exists in undiscovered deposits around the world, with some occurring in covered or remote areas, making extraction more difficult and expensive. In August 2021, according to a ResearchGate article published, there are numerous flaws and challenges in the extraction of niobium from its minerals. The presence of impurities such as refractory metallic oxides, radioactive materials and trace amounts of rare earth elements in niobium mineral ores complicates extraction and processing. This difficult extraction of Niobium may impede market growth during the forecast period.

Key Market Players

Product launches, collaborations and R&D activities are key strategies adopted by players in the Niobium Capacitor Market. The top 10 companies in the Niobium Capacitor industry include

1. AMG NV 2. AVX Corporation 3. Illinois Capacitor 4. Toshiba Corporation 5. CBMM 6. NioCorp Developments 7. JX Nippon Mining & Metals 8. MITSUI Mining & Smelting Co. Ltd. 9. Murata Manufacturing Co., Ltd. 10. Kyocera Corporation

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Recent Developments

• In March 2022, CBMM partnered with Horwin Brasil to increase access to clean energy and promote electromobility in the country. The agreement's goal is to use a lithium-ion battery containing niobium in electric two-wheel vehicles. CBMM could invest US$131 million in 2022 as part of this partnership and sell 500 tons of niobium oxide.
• In March 2022, KYOCERA Corporation acquired ROHM Semiconductor’s tantalum and polymer capacitor businesses to expand the existing portfolio of solid electrolytic capacitor solutions for medical, military and aerospace applications. This acquisition would boost the Niobium Capacitor Market size.
• In April 2021, NioCorp Developments Ltd announced that it had closed on the purchase of the land parcel on which the?company’s Elk Creek Superalloy Materials Project operations would be located. This project would deal with the production of niobium, allowing the company to expand its Niobium Capacitor portfolio in the market.

Key Market Players:

The Top 5 companies in Niobium Capacitor Market are:

1. Kyoreca Corp.
2. JX Nippon Mining & Metals
3. Panasonic Corp,.
4. Toshiba Corp.
5. Murata Manufacturing Co. Ltd.

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