Molybdenum (Mo) Market Size, Share, Trends, Demand, Growth and Competitive Analysis| MarkNtel

 MarkNtel Advisors recently published a detailed industry analysis of the Molybdenum (Mo) Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Molybdenum (Mo) Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030

The Molybdenum (Mo) Market size was valued at around USD 5.32 billion in 2023 & is anticipated to reach around USD 6.70 billion by 2030. The market is also estimated to grow at a CAGR of around 3.92% during the forecast period, i.e., 2024-30.

What are the major Driver the Molybdenum (Mo) industry?

Increasing Global Steel Production – The rise in steel production is the primary driver for molybdenum usage in the Global Molybdenum Market, it is to the point that 71% of the molybdenum was consumed in the production of various steel grades, amounting to 447.3 million pounds (184,058.4 metric tons) in 2023. The steel production will pick up its pace with the rise in demand. According to the World Steel Association, the short-term forecast for steel demand accounts for an increase of 2.96% from 1,599.4 million metric tons in 2023 to 1,646.7 million metric tons in 2025. Also, as the inflationary pressure on the global economy wanes due to high interest rates by the central banks over a prolonged period, any interest rate cut can lead to economic recovery boosting the steel demand. For instance,

In June 2024, the European Central Bank lowered its interest rate by 25 basis points. The expectation for this resulted in a slight increase in production from April on a YoY basis. However, with the announcement, a significant rise in steel production of 5.1% on a YoY basis for June was observed in the European Union, this continued with the increase of 5.7% for July month yearly.

The decision to cut interest rates by major economies as the inflationary pressure declines can promote massive recovery in the global economy. This can lead to a rise in steel demand and production leading to growth in the Global Molybdenum Market.

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What segments define the Molybdenum (Mo) market from 2024 to 2030? How do these segments contribute to market dynamics and growth?

·       By Application

o   Electric Conductivity- Market Size & Forecast 2019-2030, Thousand Tons

o   Imaging- Market Size & Forecast 2019-2030, Thousand Tons

o   Metal Alloys- Market Size & Forecast 2019-2030, Thousand Tons

o   Catalyst- Market Size & Forecast 2019-2030, Thousand Tons

o   Others- Market Size & Forecast 2019-2030, Thousand Tons

According to report, Metal Alloys are currently the most dominant segment based on application for the Market and will continue their dominance over the forecasted period.

·       By End-User

o   Oil & Gas- Market Size & Forecast 2019-2030, Thousand Tons

o   Chemical & Petrochemical- Market Size & Forecast 2019-2030, Thousand Tons

o   Electronics- Market Size & Forecast 2019-2030, Thousand Tons

o   Iron & Steel- Market Size & Forecast 2019-2030, Thousand Tons

o   Energy & Power- Market Size & Forecast 2019-2030, Thousand Tons

o   Others (Aerospace & Defense, etc.)- Market Size & Forecast 2019-2030, Thousand Tons

According to report, The iron and Steel industry is the biggest consumer of Molybdenum and will continue to hold its position over the forecasted period as well.

Explore the Complete Molybdenum (Mo) Market Analysis Report – https://www.marknteladvisors.com/research-library/molybdenum-market.html

Geographical Analysis: Molybdenum (Mo) Market

o   North America

o   Europe

o   Asia-Pacific

o   South America

o   Middle East & Africa

Molybdenum (Mo) Market Share & Competitive Landscape:

The Molybdenum (Mo) Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry's leading companies, highlighting their strengths, financial performance, and market influence.

Leading Companies in the Molybdenum (Mo) Market are:

• Multi Metal Development Limited
• Anglo American
• BHP (Peru Antamina)
• Antofagasta PLC
• Centerra Gold Inc.
• CMOC Group
• Codelco
• Freeport-McMoRan (Climax Molybdenum)
• Grupo Mexico
• Plansee
• Rio Tinto
• Zijin Mining Group Co., Ltd.
• ABSCO Limited
• KGHM

Molybdenum (Mo) Industry Recent Development:

• May 2024: Anglo American is planning to invest more than USD 80 million in Peru. This step is regarding the company looking to add six-ore floatation cells for better copper and molybdenum recovery.

 Questions Addressed in this Study

1.What factors are driving the Molybdenum (Mo) Market growth?

2.How is the Molybdenum (Mo) Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Molybdenum (Mo) Market?

4.What is the current size of the Molybdenum (Mo) Market, and how is it projected to change in the future?

6.What is the future outlook for the Molybdenum (Mo) Market in terms of technological advancements and market expansion?

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Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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