The biggest producers of the molybdenum are China, the US, Chile, Peru, and Mexico. While Molibdenos y Metales S.A. of Chile is leading internationally.

LEWES, DELAWARE, UNITED STATES, June 15, 2022 /EINPresswire.com/ -- Molybdenum (Mo) is a silvery grey chemical element that is not found in a pure state in nature but as molybdenite. Molybdenite can be found in the different Earth’s layers combined with other elements, mainly copper. Given its durability and resistance to high temperatures and corrosion, molybdenum is widely used in high-quality steel alloys required for the metallurgic, chemical, and steel industries.

In terms of volume, the global Molybdenum Oxide Production was 237.98 K Tons in 2021, and it is predicted to reach 248.04 K Tons in 2028, at a CAGR of more than 0.75%. In 2021, the global Molybdenum Oxide market is led by Asia-Pacific, capturing about 49.93% of global Molybdenum Oxide production. Europe is the second-largest region-wise market with 20.52% of the production share. Global molybdenum Oxide (CAS 1313-27-5) market will register a 3.2% CAGR in terms of revenue, the global market size will reach USD 5.42 billion by 2026.

There are two types of uses for molybdenum: primary and end. Within primary uses, molybdenum is employed in the manufacture of chemical and steel products -structural and stainless steel- as well as pure molybdenum elements. Molybdenum end uses include finished products containing different percentages of molybdenum, which products are then used to manufacture elements for the oil, chemical, automotive, and aeronautic industries, among others.

At present, the major manufacturers of Molybdenum Oxide are Molibdenos y Metales S.A, Freeport-McMoRan (FCX), Codelco, Jinduicheng Molybdenum Group, China Molybdenum, etc. Molibdenos y Metales S.A is the world leader, holding a 24.25% production market share in 2021.

In application, Molybdenum Oxide downstream is wide and recently Molybdenum Oxide has acquired increasing significance in various fields of Metallurgy Industry, Chemical Industry, and others. Globally, the Molybdenum Oxide market is mainly driven by growing demand for the Metallurgy Industry which accounts for nearly 79.92% of total downstream consumption of Molybdenum Oxide.

In the future, the global market is expected to witness significant growth on account of rising applications, so in the next few years, Molybdenum Oxide production will show a trend of steady growth. In 2028 the production of Molybdenum Oxide is estimated to be 248.04 K Tons.

Today’s industrial marketplace is increasingly competitive and requires the ability to reduce costs, raise productivity and increase accuracy for any business that is going to survive. For businesses that will truly thrive, the ability to lead the development and get products to market faster is also critical. In addition, the impact on the cost and availability of raw materials and certain components is uncertain due to potential supply changes. The costs of raw materials have a significant impact on the level of expenses. If the prices of raw materials and related factors such as energy prices increase, and if new companies cannot pass those price increases on to customers, their results of operations and financial condition would suffer.

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