PUBLISHER: Value Market Research | PRODUCT CODE: 1548017
PUBLISHER: Value Market Research | PRODUCT CODE: 1548017
The global demand for Molybdenum Market is presumed to reach the market size of nearly USD 7.3 Billion by 2032 from USD 4.7 Billion in 2023 with a CAGR of 5.01% under the study period 2024-2032.
Molybdenum is a hard transition metal which occurs commonly in the form of an ore called molybdenite. Molybdenum is used to produce various alloys for different industries and is an essential micronutrient needed by a living being. Molybdenum is less toxic and has versatile chemical properties which make it a suitable candidate for several applications. Molybdenum is used as a raw material in various industries like steel, electronics, automotive, defence, chemical, aerospace, medical and oil & gas. It exhibits several chemical properties suitable for being used as a catalyst and a corrosion inhibitor. Alloys of molybdenum are used in equipment used for processing materials and heavy-duty furnaces.
The increasing demand for steel is a major driver for the growth of the molybdenum market since molybdenum is used in various stages of steel production. The consumption of steel continues to grow in various industries like transportation, construction and automotive and hence this boosts the growth of the molybdenum market. The use of molybdenum in electronics will further propel market growth due to the ever-increasing demand for innovative technologies. Ever-expanding oilman's gas industry will increase the demand for molybdenum, a critical element used in these industrial plants. The COVID-19 pandemic will not affect this market a great deal and the demand for molybdenum will remain stable. The high price of molybdenum and its inability to withstand high temperatures can hamper the growth of the molybdenum market.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Molybdenum. The growth and trends of Molybdenum industry provide a holistic approach to this study.
This section of the Molybdenum market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Molybdenum market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Molybdenum market include China Molybdenum Co. Ltd, Grupo MeXico, Antofagasta PLC, Rio Tinto, Anglo American. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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