Global Molybdenum Market by End Product, End-user industry, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026
Global molybdenum market is estimated to be USD 4.411 billion in 2019 and is projected to surpass USD 5.069 billion by 2026, expanding at a CAGR of around 2.34% during the forecast period, 2020–2026. Molybdenum is an important material used in aerospace and defense industry due to the presence of its various properties such as high-temperature stability, tensile strength, density, radiation protection, and their excellent material machinability.
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Molybdenum has high strength and less weight and is therefore very crucial in the reduction of vibration and improvement in the pilot and passenger comfort. It is extensively used for stabilization of control surfaces for ailerons, elevators, and rudder sections of aircraft, helicopter rotor blades, and cockpit instrumentation.
Market Drivers, Restraints, Opportunities, and Trends:
- Surging demand of molybdenum-bearing in chemicals is the driving factor propelling the growth of the market.
- Increasing purchasing power in the emerging economies and increasing demand of commercial airlines are major factors boosting the growth of the market.
- Manufacturers are exploring innovative ways for finding new energy sources which is essential for setting of the new renewable energy production plants and is hence creative lucrative opportunities in the market.
- High price of molybdenum is a major restraining factor which can hinder the growth of the market as it isn’t suitable for continuous temperatures above 500 °C in an oxidized atmosphere unless it is protected by a coating.
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Competitive Landscape:
Some of the other key players operating in the market include BHP Billiton Group, Jinduicheng Molybdenum Co., Ltd., American CuMo Mining, Compania Minera Dona Ines De Collahuasi S.C.M, S.A.B. de C.V, Grupo México, Thompson Cek Metals, Moly metal LLP, Anglo American, Antofagasta plc, China Molybdenum Co. Ltd, and ENF Ltd. The market mostly consolidated with the domination of a few leading players.
The Global Molybdenum Market has been segmented on the basis of
End Product
- Steel
- Chemical
- Foundry
- MO-Metal
- Nickel Alloy
- Other End Products
End-user industry
- Oil and Gas
- Chemical and Petrochemical
- Automotive
- Industrial Usage
- Building and Construction
- Aerospace and Defense
- Other End-user Industries
Regions
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- Latin America
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Table of Contents
- Executive Summary
- Assumptions and Acronyms Used
- Research Methodology
- Molybdenum Market Overview
- Global Molybdenum Market Analysis and Forecast by Type
- Global Molybdenum Market Analysis and Forecast by Application
- Global Molybdenum Market Analysis and Forecast by Sales Channel
- Global Molybdenum Market Analysis and Forecast by Region
- North Molybdenum Market Analysis and Forecast
- Latin Molybdenum Market Analysis and Forecast
- Europe Molybdenum Market Analysis and Forecast
- Asia Pacific Molybdenum Market Analysis and Forecast
- Middle East & Africa Molybdenum Market Analysis and Forecast
- Competition Landscape
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