Niobium (Nb) and tantalum (Та) are transition metals grouped together thanks to their very similar physical and chemical properties. The similarity between the two metals lies also in the uniqueness of their properties, which find them application in numerous industries, including metallurgy, automotive industry, ceramics, surface coatings, chemicals, construction, engineering, electronics, medicine, defense sector, to name only a few. However, despite some common features the behaviors and growth scenarios of the two markets demonstrate certain differences. The niobium-mining market is heavily monopolized as it is controlled by Brazil. The tantalum-mining market hosts a bigger number of players. However, national factor in niobium and tantalum production, though important, is somewhat mitigated by the participation of transnational corporations. The world’s largest niobium producers are Companhia Brasileira de Metalurgia e Mineração (CBMM) (Araxá deposit, Brazil), Mineração Catalão de Goiás Ltda., Anglo American Brasil Ltda. and Niobec Inc. in Quebec, Canada [the latter has been was sold to a group of companies led by Magris Resources Inc (Hong Kong) and Temasek (Singapore)].
Tantalum: top producing countries in 2014
The electronics industry accounts for about half of tantalum product global demand (specifically, in fabrication of electrolytic capacitors), with superalloys the other major end-use. Demand for steel and aerospace super alloys are the main driving factors for niobium consumption since about 89% of global niobium production is used to produce ferro-niobium, used in high strength steels. Notwithstanding the seeming commonality, the tantalum consumption structure looks much more diverse and balanced than that for niobium. Being high-tech metals with limited supply volumes (though adequate for both metals and limited in different degrees), these metals closely follow the trajectories of their main consumption sectors, mainly of steel production and electronics, which are in turn are highly dependable from macroeconomic conditions in countries with decisive Nb/Ta production and/or consumption. Since China is a major consumer of tantalum and niobium, the macroeconomic situation of this country is of prime significance for the niobium and tantalum markets. Current slowdown in Chinese economics, which might affect metallurgical, construction and electronics sectors, might put certain pressure on the tantalum and niobium markets. However, the market for both metals is expected to grow at a rate of around 4-6% per year up to 2019, buoyed by inefficiency of available substitutes, the proliferation of high-tech industries and the need in new materials with advanced properties.
More information on the tantalum and niobium market is available in the topical research report “Tantalum and Niobium (Columbium): 2016 World Market Review and Forecast”.