SHERIDAN, WYOMING, UNITED STATES, August 8, 2022 /EINPresswire.com/ -- The latest research study “Molybdenum Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that 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.

Covid-19 Impact:

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Industry Definition and Application:

Molybdenum represents a silvery-white, highly ductile, and corrosion-resistant metal that offers excellent mechanical stability as well as strength at high temperatures. It is extensively used in rotating X-ray anodes that further find application in clinical diagnostics, glass melting furnace electrodes, sprayed coatings of automotive piston rings, machine components to reduce friction, etc. In line with this, molybdenum is widely utilized across various sectors, such as oil and gas, chemical, construction, aerospace, defense, etc., across countries.

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Global Molybdenum Market Trends and Drivers:

The escalating product demand in the steel industry for increasing the hardenability, toughness, and tensile strength of steel is primarily driving the molybdenum market. In addition to this, the growing adoption of molybdenum in electronic devices, including TVs, computers, remote controls, etc., owing to its optimal expansion under high-temperature conditions, is further catalyzing the market growth across the globe. Besides this, the rising product utilization to stabilize control surfaces for ailerons, elevators, and rudder sections of aircraft, helicopter rotor blades, cockpit equipment, etc., is acting as another significant growth-inducing factor. Apart from this, the inflating popularity of molybdenum as a catalyst in petroleum refineries to assist in refining petroleum products and removing sulfur from natural gas is anticipated to fuel the molybdenum market over the forecasted period.

Global Molybdenum Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

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.

The report has segmented the market on the basis of region, 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 Defence
• 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

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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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Who we are:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
+1 6317911145
email us here

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