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The Global Molybdenum market is Growing Demand in the heavy industries As well as Automotive Industry are Responsible for key Drivers of Industry Growth

NEW YORK CITY, NEW YORK, UNITED STATES, May 13, 2022 /EINPresswire.com/ -- The Latest Insights by Reports and Data on the Molybdenum market offers an extensive analysis of the trends to estimate its growth in the near future. It provides historical investigation and evaluates the trends observed in the data gathered to speculate the development in its size, share, demand, total earnings, and revenue. It considers the years 2018 and 2019 to collect historical data while considering 2020 as the base year to draw a forecast for the years 2022 to 2028. This assessment indicates a stable CAGR in the predicted duration and discusses those sectors that might boost the development of the industry.

Molybdenum, a silvery white metal with a grey cast is 54th most abundant element in the Earth`s crust as well as 25th most abundant element in the oceans. Apart from being used extensively in the oil & gas industry as well as in the construction industry, the metal is also used in other sectors like automotive, aerospace, medical industries, electronics and defense. Molybdenum has high melting point, low thermal expansion coefficient as well as very high shape stability. It also has very large electric resistance which is why it is used as a heater for high temperature furnaces and as electrodes.

Global Molybdenum market size is expected to increase over the forecasted period. The report includes analysis of the market size, share, prices as well as the demand of the product along with the trends witnessed and the growth projections for the forecasted period. China happens to be the biggest market.

Major driver for the growth in the demand of Molybdenum market is the growth in the heavy industries. Automotive industry which is witnessing change in the form of electrification of vehicles will be the main driving force for the increase in the demand of steel consumption in which molybdenum is used, therefore leading to increase in the demand for Molybdenum over the forecasted period.

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The key players in the global Molybdenum market include:

BHP Billiton Group
Jinduicheng Molybdenum Co.
American CuMo Mining
Thompson Creek metals
Moly Metal LLP
ENF Ltd.
Compania Minera Dona Ines De Collahuasi S.C.M.
Freeport McMoran

Asia Pacific region dominates the market and the trend is expected to remain the same over the forecasted period. In 2017, Global exports of Molybdenum amounted to 640 million USD in terms of revenue, of which China was the largest exporter amounting to 24% share of the exports followed by Japan at 9.9%. Apart from being the largest exporter of the metal, China also happens to be the leader in Molybdenum consumption with over 91 million Kgs consumption in 2017. In 2017, Molybdenum was mostly used in engineering steels with over 40% share while Nickel Alloys was the least.

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Segments covered in the report:

This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the market on the basis of type, ingredient type, application and regional analysis.

Market has been divided by End products into:

Steel
Chemicals
Foundries
MO metals
Nickel alloys

Market is divided into End User industry into:

Oil & Gas
Chemical & Petrochemical
Automotive
Industrial Usage
Building & Construction
Aerospace & Defense
Others

Regional Outlook (Revenue, USD Billion; 2017–2026)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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Key questions covered in the global Molybdenum market report:

What is the expected market size of the global Molybdenum market during the forecast period?
What factors are expected to hamper global Molybdenum market growth over the forecast period?
What key factors are expected to drive global revenue growth between Forecast Period?
Which application segment is expected to dominate other application segments over the forecast period?
Which region is expected to dominate in terms of revenue during the forecast period?
What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
Which leading players are operating in the global Molybdenum market?

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