Market Overview:

The global molybdenum market reached a volume of 5,400 Tons in 2021. Looking forward, IMARC Group expects the market to reach a volume of 6,429 Tons by 2027, exhibiting a CAGR of 2.80% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Molybdenum is a silvery-white, highly ductile and corrosion-resistant metal offering excellent strength and mechanical stability at high temperatures. It is widely used in rotating X-ray anodes that further find application in clinical diagnostics, glass melting furnace electrodes and sprayed coatings of automotive piston rings and machine components to reduce friction. It is also utilized in the production of components that are resistant to molten glass and heat sinks with thermal expansivity. At present, the burgeoning oil and gas, chemical and petrochemical, construction, aerospace, and defense sectors are positively influencing the demand for molybdenum across the globe.

Molybdenum Market Trends:

The growing demand for molybdenum in the steel industry to increase the hardenability, toughness, and tensile strength of steel represents one of the key factors driving the market. Moreover, there is a rise in the utilization of molybdenum in electronic devices due to its expansion under high-temperature conditions. This, along with the rising employment of molybdenum as a catalyst in petroleum refineries to help refine petroleum products and remove sulfur from natural gas, is propelling the growth of the market. In addition, there is an increase in the usage of molybdenum in the aerospace industry to reduce vibration and improve pilot and passenger comfort. It is also used to stable control surfaces for ailerons, elevators, and rudder sections of aircraft, helicopter rotor blades, and cockpit equipment. Besides this, the rising applications of molybdenum in the defense industry for manufacturing premier warheads, nozzles, and shaped charge liners, is positively influencing the market. Furthermore, key market players are introducing new primary and byproduct operations to expand their customer base. These players are also focusing on capacity expansions and mergers and acquisitions (M&A), which is projected to bolster their overall sales and profitability.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global molybdenum market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product type, sales channel and end use.

Breakup by Product Type:

• Steel
• Chemical
• Foundry
• Molybdenum Metal
• Nickel Alloy  
   

Breakup by Sales Channel:

• Manufacturer/Distributor
• Aftermarket
   

Breakup by End Use:

• Oil and Gas
• Automotive
• Heavy Machinery
• Energy
• Aerospace and Defense
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being ABSCO Limited, American CuMo Mining Corporation, Centerra Gold Inc., China Molybdenum Co. Ltd., China Rare Metal Material Co. Ltd., Codelco, Freeport-McMoRan Inc., Grupo México, Jinduicheng Molybdenum Co. Ltd, KGHM Polska Mied? S.A., Molten Corporation and Moly Metal L.L.P.

Report Coverage:

Key Questions Answered in This Report:

• How has the global molybdenum market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global molybdenum market?
• What are the key regional markets?
• What is the breakup of the market based on the product type?
• What is the breakup of the market based on the sales channel?
• What is the breakup of the market based on the end use?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global molybdenum market and who are the key players?
• What is the degree of competition in the industry?