Critical Raw Materials attract increasing attention due to their depleting reserves and low recyclability. Niobium, one of the most rare and vital elements, is primarily found in Brazil. This research explores the potential impact of Circular Economy (CE) strategies on mitigating niobium's criticality within Europe. First, a niobium supply chain is designed and analysed by Enterprise Input–Output modelling. Second, the supply risk is calculated based on the criticality matrix proposed by the European Commission under three scenarios associated with resources, technologies, and policies. The results show that urban mining is a potential solution to reduce niobium’s criticality and mitigate its environmental impacts. A higher recycling input rate and/or a mix of recycling and substitution strategies is necessary to offset niobium’s criticality. Aligned with the CE action plan, the research offers a scientific foundation to strategically prevent the risk of niobium supply shortages.