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Molybdenum Market Analysis, Growth, Vendors, Shares, Drivers, Challenges With Forecast To 2027
Molybdenum Market
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Molybdenum is used in stainless steel, commonly in the range of 2 to 4%, which helps in improving the resistance to pitting in chloride environments and to fissure in Fe-Cr-Ni alloys and Fe-Cr alloys. This is one of the major factors driving growth of the molybdenum market. Furthermore, increasing demand for various steel such as stainless steel, structural steels, and others, particularly in China, fuels growth of this market. According to the World Steel Association, China is the largest producer of steel, by producing 803.8 million metric tons in 2015 and it was increased to 808.4 million metric tons in 2016.
Molybdenum Market Taxonomy
On the basis of application, the global molybdenum market is segmented into:
Alloys
Catalysts
Fertilizers
Foundry
Others
On the basis of end-use industry, the global molybdenum market is segmented into:
Automotive
Oil & Gas
Aerospace & Defense
Chemical
Energy
Others
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Some of the leading players operating in the global molybdenum market include Centerra Gold Inc., Codelco Mining Company, China Molybdenum Company Limited, Freeport-McMoRan Inc., Anglo American plc., Cronimet Group, Jinduicheng Molybdenum Group Co., Ltd., Shaanxi Non-Ferrous Metals Holding Group Co., Ltd, Antofagasta plc., Grupo México, and S.A.B. de C.V.
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