The new report by Expert Market Research titled, ‘Molybdenum Market Size, Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2021-2026’, gives an in-depth analysis of the Global Molybdenum Market, assessing the market based on its segments like types, process types, distribution channels, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
- Forecast CAGR (2021-2026): 4%
Molybdenum is used as a catalyst in the petroleum industry to remove sulfur from natural gas and refined petroleum products, propelling the market’s growth. Due to molybdenum’s extremely high melting point, it is used to make moly steel alloys used in various engines, thereby assisting the industry’s growth. Additionally, the use of molybdenum in stainless steel alloys used in tanker trucks and pharmaceutical and chemical mills contributes significantly to the market’s overall growth. Developing economies’ governments, such as India and China, are investing heavily in constructing roads, trains, power plants, and water systems increasing demand for energy production.
Industry Definition and Major Segments
Molybdenum is a silvery-white element that is highly ductile and corrosion-resistant. It is a transition metal recovered as a by-product of the mining of tungsten and copper. It is used to increase the hardness, electrical conductivity, resistance, and strength of alloys.
The market can be divided into the following segments on the basis of type:
- Steel
- Chemical
- Foundry
- MO-Metal
- Nickel Alloy
- Others
The market can be divided based on end-use into:
- Oil and Gas
- Chemical and Petrochemical
- Automotive
- Industrial Usage
- Building and Construction
- Aerospace and Defence
- Others
The leading regional markets for Molybdenum are:
- North America
- Latin America
- Middle East and Africa
- Europe
- Asia Pacific
Explore the full report with the table of contents@ https://www.expertmarketresearch.com/reports/molybdenum-market
Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
Market Trends
The rising demand for stainless steel for the manufacture of stainless-steel service pipes, which can help address the global problem of water leakage, catalyzes the market’s growth. Additionally, favorable government regulations that permit the use of stainless steel in the food and beverage industry contribute to the market’s growth. The aviation industry’s rapid growth is increasing demand for superior aircraft powered by turbine engines capable of high performance and efficiency due to molybdenum’s superior thermomechanical and chemical properties and its ability to withstand extreme weather support, jet engines, and landing systems, further catalyzing the market growth.
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Key Market Players
The major players in the market are Anglo American plc, Antofagasta plc, China Molybdenum Co., Ltd, Codelco, and Freeport-McMoRan Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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