Press release
Molybdenum Market Size to Hit 6,596 Tons by 2028 | CAGR of 2.6%
The global molybdenum market size reached 5,589 Tons in 2022. Looking forward, IMARC Group expects the market to reach 6,596 Tons by 2028, exhibiting a growth rate (CAGR) of 2.6% during 2023-2028.
What is Molybdenum?
Molybdenum is a versatile material that is essential for enhancing the performance and durability of numerous products. It assists in providing exceptional strengthening qualities to alloys utilized in critical components, such as turbine blades, furnace elements, and electrical contacts. It also serves as a solid lubricant in various mechanical systems, reducing friction and wear. It plays a pivotal role in manufacturing thin-film transistors and conductive layers required for advanced electronic devices, from smartphones to high-performance computing equipment. It is employed as a key element in the production of semiconductors and thin-film transistors, contributing to the advancement of technology.
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Global Molybdenum Market Trends and Drivers:
At present, the escalating demand for molybdenum in the aerospace sector to produce aircraft components and engines represents one of the key factors supporting the growth of the market. Besides this, molybdenum contributions to energy transformation align with environmentally conscious business practices, which is strengthening the growth of the market. Additionally, the growing demand for lightweight yet sturdy materials in various industries is driving the need for molybdenum-based alloys. In line with this, the rising awareness among the masses about the benefits of molybdenum, such as high melting point, corrosion resistance, and strength-enhancing capabilities, is contributing to the growth of the market.
Who are the key players operating in the industry?
• 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
• Moly Metal L.L.P.
Report Segmentation:
The report has been segmented the market into following categories:
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
Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• 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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Contact US
IMARC Group
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About Us:
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.
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