Press release
Molybdenum Market Emerging Technology, Investor Analysis and Worldwide Forecast till 2031 | BHP Billiton Group, Jinduicheng Molybdenum Co. Ltd., American CuMo Mining
Molybdenum Market || 2024-2031
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What is the projected growth rate (CAGR) of the Global Molybdenum market from 2024 to 2031, and what is the market value expected to change by 2031?
The Global Molybdenum Market reached USD 8.2 billion in 2022 and is expected to reach USD 11.1 billion by 2031, growing with a CAGR of 4.0% during the forecast period 2024-2031
What is Molybdenum Market?
Molybdenum is a silvery-white metallic element with the chemical symbol Mo and atomic number 42. It is a transition metal known for its high melting point, strength, and resistance to corrosion, making it valuable in various industrial applications. Molybdenum is primarily used in steel production to enhance the strength, toughness, and wear resistance of steel alloys, especially in high-temperature and high-stress environments. Additionally, it plays a critical role in the manufacturing of electrical contacts, filaments, and molybdenum disulfide, a lubricant. Molybdenum is also an essential trace element in human nutrition, required for certain enzymatic processes.
Growth Driver
Renewable Energy Sector Growth
The global molybdenum market is influenced by several factors, notably the expansion of the renewable energy sector. As a key component in this industry, molybdenum is utilized in the production of catalysts for petroleum refining and biofuel synthesis. Moreover, molybdenum-based materials play a vital role in photovoltaic solar cells and energy storage systems. With the rising emphasis on clean energy sources and the transition toward renewable solutions, the demand for molybdenum within the renewable energy sector is anticipated to increase significantly.
Key Players:
Profiles of some of the major players in the global Molybdenum market, which include:
BHP Billiton Group, Jinduicheng Molybdenum Co. Ltd., American CuMo Mining, Compañía Minera Antamina S.A, S.A.B. de C.V, Grupo México, Thompson Cek Metals, Moly metal LLP, ENF Ltd. and Compania Minera Dona Ines De Collahuasi S.C.M.
Industry Development:
On January 18, 2023, European molybdenum prices hit a record high of USD 9,680 per tonne, driven by a surge in copper prices. On March 14, 2023, the CME Group reported the first 90 contract trades of molybdenum oxide futures, reflecting increased applications in clean power technologies. Additionally, on June 16, 2023, Greenland Resources signed a Letter of Intent (LOI) with FLSmidth to receive technical support, technology, and metallurgical process equipment.
The purpose of the report is to offer a comprehensive analysis of the market, along with insightful conclusions, statistical data, historical information, market data that has been confirmed by the industry, and predictions based on a sound methodology. By identifying and examining market segments and forecasting global market size, the study also contributes to understanding the dynamics and structure of the global Molybdenum market.
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Market Segments:
The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviours.
By End Products: Steel, Chemicals, Foundries, MO-Metals, Nickel Alloys
By End-User Industry: Oil & Gas, Chemical and Petrochemical, Automotive, Industrial Usage, Building & Construction, Aerospace & Defense, Others
Regional Break out:
☞ North America - US, Canada, Mexico
☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe
☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific
☞ South America- Brazil, Argentina, Colombia, Rest of South America
☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel
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Key Features
➧ Gain deep insights into market dynamics, trends, and opportunities to stay ahead in a competitive landscape.
➧ Track competitor's movements in real time, allowing you to swiftly adapt strategies and remain competitive.
➧ Compare your performance with industry leaders to identify gaps, strengths, and areas for improvement.
➧ Stay updated with emerging market trends, technological advancements, and customer behaviour to refine your strategy.
➧ Receive actionable insights and recommendations to drive your business toward growth and long-term success.
➧ Tailor competitive intelligence to your unique business needs, ensuring relevant and focused analysis.
➧ Evaluate supply chain efficiency and logistics strategies to optimize operations and minimize disruptions.
➧ Understand key players, stakeholders, and partnerships to navigate the competitive landscape more effectively.
➧ Identify and target specific market segments with detailed intelligence on customer preferences and behaviours.
➧ Stay informed on regulatory changes and legal requirements impacting your industry to ensure compliance and mitigate risks.
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DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
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