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

Global Molybdenum (Mo) Market, 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., 2025-30. 

Key Findings in Molybdenum (Mo) Market:

• Historical Analysis: 2020–2023
• Base Year: 2024
• Forecast Period: 2025–2030

Leading Market Players- 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, and Others.

Key Highlights of the Report

• Market Dimensions & Projections
• Pricing Evaluation,
• Recent Strategic Moves by Companies,
• Primary Stakeholders,
• Analysis of Import and Export Trends,
• Competitive Landscape Assessment,
• Emerging Opportunities,
• Market Trends and Indicators

What are the major Driver the Global 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 Global Molybdenum (Mo) Market from 2025 to 2030? How do these segments contribute to market dynamics and growth?

By Application

• Electric Conductivity- Market Size & Forecast 2020-2030, Thousand Tons
• Imaging- Market Size & Forecast 2020-2030, Thousand Tons
• Metal Alloys- Market Size & Forecast 2020-2030, Thousand Tons
• Catalyst- Market Size & Forecast 2020-2030, Thousand Tons
• Others- Market Size & Forecast 2020-2030, 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

• Oil & Gas- Market Size & Forecast 2020-2030, Thousand Tons
• Chemical & Petrochemical- Market Size & Forecast 2020-2030, Thousand Tons
• Electronics- Market Size & Forecast 2020-2030, Thousand Tons
• Iron & Steel- Market Size & Forecast 2020-2030, Thousand Tons
• Energy & Power- Market Size & Forecast 2020-2030, Thousand Tons
• Others (Aerospace & Defense, etc.)- Market Size & Forecast 2020-2030, 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. Various factors are responsible for such developments.

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

Geographical Analysis: Global Molybdenum (Mo) Market

By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Global Molybdenum (Mo) Market 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.

Key Questions Addressed in This Study

• What are the primary factors driving the growth of the Molybdenum (Mo) Market?
• How is the Molybdenum (Mo) Market expected to evolve over the next five years?
• What key insights can be drawn from current trends shaping the market?
• What is the current market size, and how is it forecasted to change in the coming years?
• What is the future outlook for the market in terms of technological innovation and geographic expansion?

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Why MarkNtel Advisors?

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries 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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