Report Code: A11882 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
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Molybdenum is a chemical which has strength and is corrosion resistance and has ability to hold shape and to operate in high temperature. It is used as alloying agent in structure and stainless steel. Molybdenum is silvery-white lustrous metal and is lightweight. It has properties such as durability, reliability and has low degree of thermal expansion. It is the by-product of copper mining. It is used in many industries such as oil and gas, heavy machinery, automotive, energy, aerospace and defense and others. Molybdenum has product types mainly steel, chemical, metal, alloy, and nickel among others. The increasing use of molybdenum in many industries such as aerospace and defense, oil and gas and others, will boost the demand for molybdenum market.
   COVID-19 Impact analysis
  Top Impacting Factors
The increased demand from large scale industries is driving the growth of molybdenum market. Due to the depletion of natural resources, the manufacturers are searching for a new energy source. For construction and production, the demand for molybdenum increases, which will boost the molybdenum market. However, the price of molybdenum is very high, the high price factor can restrain the growth of molybdenum market. Continuous temperature above 500 degrees Celsius is not suitable for molybdenum, which can restrain the growth of the molybdenum market. The producer of molybdenum is focusing on making new primary and by-product operation. The demand for molybdenum is high in many industries such as steel and chemical industries, this factor can drive molybdenum market. Due to the high electrical conductivity property, it is used in electrical and electronic devices and also used in medical equipment. This is driving the growth of molybdenum market. Molybdenum is also used in defense and aerospace and it increases the demand for molybdenum and will boost the growth of the market. Molybdenum is used in material processing equipment and high temperature furnaces, which will create a lucrative growth opportunity to the molybdenum market.
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Molybdenum Market Report Highlights
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Key Market Players | Freeport-McMoRan Inc., Corporacion Nacional del Cobre de Chile, Anglo American Plc., Antofagasta Plc., Rio Tinto Ltd, China Rare Metal Material Co. Ltd., China Molybdenum Co. Ltd., Grupo Mexico SAB de CV, ABSCO Ltd., Centerra Gold Inc. |
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