The Global Niobium Pentoxide Market size is expected to grow from 5.11 kilotons in 2023 to 6.70 kilotons by 2028, at a CAGR of 5.57% during the forecast period (2023-2028).
The market was negatively impacted by the COVID-19 pandemic in 2020. The pandemic hampered various industries, such as the automotive and construction industries, due to the disruption in the supply chain. However, the market is expected to reach the pre-pandemic level during the forecast period.
The global niobium pentoxide market is consolidated in nature, with the top five players controlling the majority of the share of the global supply. Some of the major players in the market include CBMM, AMG NV, JX Nippon Mining & Metals Corporation, Mitsui Mining & Smelting Co. Ltd, and F&X Electro-Materials Ltd, among others.
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