Overview
The Global Molybdenum growing with a CAGR of 4.0% during the forecast period 2024-2031
As industries emphasize energy efficiency and sustainable materials, molybdenum continues to play a crucial role in steel, chemical, and foundry applications. With ongoing innovations, the molybdenum market is set for further expansion and new opportunities in the coming years. The Asia-Pacific region, accounting for over a quarter of the global market share, is a key area of growth, driven by its large population, rising disposable income, and strong construction market development.
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Market Growth Trends
Renewable Energy Sector Growth
The Global Molybdenum Market is fueled by several factors, including the expanding renewable energy sector. This sector is becoming a major growth driver, as molybdenum is used in catalysts for petroleum refining and biofuel synthesis, making it essential in the shift toward cleaner energy sources.
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Market is Segmented
By End Products: Steel, Chemicals, Foundries, MO-Metals, Nickel Alloys
By End-User Industry: Oil & Gas, Chemical and Petrochemical, Automotive, Industrial Usage, Building & Construction, Aerospace & Defense, Others
By Region: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa
Market Key Players
· BHP Billiton Group
· Jinduicheng Molybdenum Co. Ltd.
· American CuMo Mining
· Compañía Minera Antamina S.A.
· S.A.B. de C.V.
· Grupo México
· Thompson Creek Metals
· Moly Metal LLP
· ENF Ltd.
· Compañía Minera Doña Inés de Collahuasi S.C.M.
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