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
- The molybdenum market was affected negatively at the time of COVID-19 pandemic.
- The chemical industries and manufacturing industries were shut down during the COVID-19 pandemic that led to decrease in demand for molybdenum, which affected the molybdenum market.
- COVID-19 affected the automobile industry negatively, the demand for vehicles such as cars and bikes has declined, which results in downfall of the molybdenum market.
- COVID-19 pandemic has disrupted the global supply chain and this resulted in the shortage of molybdenum and affected the molybdenum market negatively.
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.
- Asia-Pacific has an important share in the market as molybdenum is used in the electrical and electronic devices.
- The industrialization in Asia-Pacific is increasing and the use of molybdenum in steel is increasing. This will boost the growth of molybdenum market.
- Due to the various properties of molybdenum such as tensile strength, radiation protection, and high temperature stability, it is used aerospace and defense industry.
- Molybdenum reduces vibration and improve the comfort of pilot and passengers in the aerospace industry. The demand for molybdenum is driving the growth of molybdenum market.
- Key market players of molybdenum market are adopting many strategic activities such as R&D activities, new product development and acquisition.
Key Benefits of the Report
- This study presents the analytical depiction of the molybdenum industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the molybdenum market share.
- The current market is quantitatively analyzed to highlight the molybdenum market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed molybdenum market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the molybdenum market Report
- Who are the leading market players active in molybdenum market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is “molybdenum market “?
- What is “molybdenum “market prediction in the future?
- What are the challenges faced in the “molybdenum " market?
- What are the key benefits of the “molybdenum " market report?
- What will be the anticipated growth rates for molybdenum market?
Molybdenum Market Report Highlights
By Product Type
Key Market Players
Anglo American Plc., Corporacion Nacional del Cobre de Chile, China Molybdenum Co. Ltd., China Rare Metal Material Co. Ltd., Freeport-McMoRan Inc., Rio Tinto Ltd, ABSCO Ltd., Grupo Mexico SAB de CV, Antofagasta Plc., Centerra Gold Inc.