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Molybdenum is an exceptional diverse group of chemical and mechanical properties that make it a great substance for product manufacturing meeting highest standards. Molybdenum is used in a variety of industries due to its thermal conductivity, high corrosion resistance, and melting point. Molybdenum excels as an all-purpose metal in a wide range of applications. Molybdenum is used to make wires and ribbons in the lighting industry, microelectronic substrates in the power electronics industry, glass melting electrodes in the production of solar cells and flat screens, and hot zones in elevated furnaces for field emission targets. The increasing demand for energy-related products will augment the demand for steel products, ultimately boosting the sales growth of the global molybdenum market during the forecast period set between 2021 and 2031.
The Molybdenum market is categorized on the basis of end use industry, application, and region. Based on application, the market is grouped into super alloy, MO metal alloy, catalysts, cast iron, carbon, tools, HSLA, stainless steel, full alloy, and other applications. With respect to end use industry, the market is classified into process industry, electronics and medical, aerospace and defense, power generation, building and construction, mechanical engineering, automotive, chemicals and petrochemicals, oil and gas, and other industries.
The research report on the molybdenum market provides a descriptive overview of the market and significant factors propelling or repelling its growth. This includes drivers, restraints, challenges, and future growth opportunities. It further highlights on the recent developments and innovations that helped the market grow in terms of revenue generation. List of the manufacturers operating in this market and their efforts to obtain a significant position in the market competition in terms of innovations and new product launches is also discussed in details. The impact of the novel COVID19 pandemic is also discussed in the report.
The nature of competition for this market is fairly competitive owing to the presence of multiple vendors. Leading players of the molybdenum market are engaging in joint ventures and merger strategies to gain an upper hand in the overall market competition. Others are investing in introduction of innovative products to attract more revenues to the market. The key objective is to ensure a significant position in the market competition and earn handsome revenues for the overall market.
Some of the key players of the global Molybdenum market include:
The rising demand for molybdenum and its composites in electronic goods and electrical devices may create numerous revenue generation opportunities for the molybdenum market in the forecast period. On the other hand, unless protected by a coating, molybdenum is not appropriate for continuous temperatures more than 500 °C in an oxidized atmosphere, which poses a significant challenge to the overall growth of the molybdenum market.
Geographically, this market is widespread into the regions of Latin America, Europe, North America, and the Middle East and Africa. These regions are further categorized as per the nations bringing business. Asia Pacific emerged as the largest revenue generator for the molybdenum market accountable to the presence of large mineral ores in the emerging nations of Japan, India, and others. On the other side, the market in Europe is also expected to witness notable growth in the coming years in terms of increasing number of research and development activities and better physical properties such as protection from radiation, corrosion resistance, and others.
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Molybdenum Market
