Global Molybdenum Market - Segmented based on End-User and Geography - Trends and Forecasts (2017 - 2022)
The market is expected to account for USD XX million in 2017 and is projected to reach USD XX million by 2022, registering a CAGR of XX% during 2017-2022 (the forecast period).Molybdenum, a byproduct of copper mining, is a silver-white shiny metal with reminiscent of tin, and light-weighted as compared to tungsten. The element is hard, tough, and strong, with a low degree of thermal expansion. Molybdenum furnace linings protect the high-temperature furnaces against heat radiation. Moreover, it is widely used for power generation purposes, 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:Demand growth for molybdenum bearings in the steel and chemical sectors is alleviating its prices, which is expected to benefit the market. Expansion of the energy sector in North America is expected to put this element in a strong position. The increase in industrial activities, accompanied by infrastructural expansion, in countries like China and Chile is expected to witness a demand growth for steel, which ultimately will boost the molybdenum market, during 2017-2022 (the forecast period). On the other hand, the deceleration of demand from Chinese oil & gas sector, due to the decline in exploration and production activities where molybdenum steel bearings are heavily used, has affected the molybdenum market.
Market Segmentation:The market has been segmented on the basis of end-user and region. Based on end-user, the market has been segmented into oil & gas, chemical/petrochemical, automotive, mechanical engineering, process industry, power generation, building & construction, aerospace and defense, and others (pigments, coating, lubricants, electronics, medical, and transportation). The oil & gas sector with a share of XX% is expected to dominate the market, in 2017.Geographically, the market has been segmented into North America, South America, the Middle East & Africa, Europe, and Asia-Pacific. In 2017, Asia-Pacific is expected to dominate the market with a share of XX%. Moreover, China is anticipated to remain the largest producer, with the largest market share, for molybdenum in the region.
Opportunities and Major Players:A demand growth for metal in North America, low input prices of oil, and an increase in mining activities in Brazil and other countries of Latin America are anticipated to be a few opportunities for the molybdenum market.
Major players in the global market include:
• Grupo México
• China Molybdenum
• Thompson Creek Metals Company, Inc.
Key Deliverables in the Study
• Market analysis, with country-specific assessments and competition analysis on the global scale.
• Market definition, along with the identification of factors instrumental in changing the market scenario and prospective opportunities.
• Extensively researched competitive landscape section with profiles of major companies, along with their market share.
• Identification and analysis of the macro and micro factors that affect the molybdenum market on the global level.
• A comprehensive list of key market players, along with the analysis of their current strategic interests and key financial information.