Molybdenum Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 - 2026

Category : Chemicals and Materials | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC562

Introduction

Molybdenum is a chemical element and by-product of copper mining, which is a silver-white shiny metal with reminiscent of tin, and light-weighted as compared to tungsten. It has one of the highest melting temperatures out of all the elements, with a low degree of thermal expansion. Moreover, it is widely used for power generation industry, owing to the properties such as resistance against corrosion, performance at high temperatures, and strength, which further boosts the efficiency of a coal-fired power station.

Market Dynamics

The demand for molybdenum bearings in steel and chemical sector is alleviating, which is expected to drive the market, globally. In addition, structural shift in China, India and other emerging economies is expected to witness a demand growth for steel, which ultimately will boost the molybdenum market, during the forecast period. However, the deceleration of demand from Chinese oil & gas sector, due to decline in exploration and production activities where molybdenum steel bearings are heavily used, has affected the molybdenum market.

Market Classification and Overview

The molybdenum market is segmented on the basis of end products, end-use industry, and geography. The end products produced from molybdenum are steel, chemicals, foundries, mo-metals, and nickel alloys. The rising demand for concrete in end-user industries such as infrastructure and transportation leads to a rise in the application of molybdenum in steel segment. Owing to the high corrosion resistant properties of various grades of stainless molybdenum steel as compared to molybdenum-free grades of stainless steel, the global molybdenum market will witness considerable growth in the steel segment during the forecast period. The market is also divided on the basis of end-use industries such as oil & gas, chemical & petrochemical, automotive, heavy machinery, process industry, energy & power, building & construction, aerospace and defense, electronics & medical, and others. The oil & gas industry dominated the global molybdenum market in 2016. This demand is attributed to the increasing usage of molybdenum in applications including the development of liquefied natural gas (LNG) and deep oil production.

Regional Overview

The market for molybdenum is segmented into regions such as North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa (MEA). Asia-Pacific was the major contributors to the growth of the market in 2017. The consumption of steel is high in APAC due to the high infrastructure development, rise in middle-class population, and rapid industrialization. Owing to the growth of emerging economies such as India, China, and Taiwan, the demand for high-strength steel will further increase in the region. This increase in the consumption of high-strength steel will subsequently fuel the growth of molybdenum market in APAC. North America was the second biggest market followed by Europe.The expansion of energy sector in North America is expected to provide high growth opportunities for market players in molybdenum market in this region.

Report Coverage

Market

Molybdenum Market

Analysis Period

2015 – 2026

Historic Data

2015 – 2016

Base Year

2017

Forecast Data

2018 – 2026

Market Stratification

End Product, End-use Industry, Geography

Regional Scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

Report Coverage

Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,

Player Profiling, Value Chain Analysis

 

Market Participants

The molybdenum market is highly concentrated and the key players in the market are increasingly competing against each other, based on factors such as operational cost, price, product quality, economies of scale, and innovation. The major players in the molybdenum market are Centerra Gold, China Molybdenum, Codelco, Freeport-McMoRan, Grupo Mexico and the other prominent players include Anglo American, Antofagasta, CRONIMET, Erdene Resource Development, Jinduicheng Molybdenum Group, KGHM, PLANSEE, Rio Tinto, RUBAMIN, Shaanxi Non-ferrous Metals Holding Group, SMR, Taseko, and Teck Resources among others. These players involved have adopted the strategies such as mergers and acquisitions with local as well as established players.

Market Segmentation

Market By End Product

·         Steel

·         Chemicals

·         Foundries

·         Mo-metals

·         Nickel alloys

Market By End-use Industry

·         Oil and Gas

·         Chemical & Petrochemical

·         Automotive

·         Heavy Machinery

·         Process Industry

·         Energy& Power

·         Building & Construction

·         Aerospace and Defense

·         Electronics & Medical

·         Others

Market By Geography

·         North America

o   US

o   Canada

o   Mexico

·         Europe

o   UK

o   Germany

o   France

o   Rest of Europe

·         Asia-Pacific

o   China

o   Japan

o   India

o   Australia

o   Rest of Asia-Pacific

·         Latin America

o   Brazil

o   Rest of Latin America

·         Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA

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