High Demand from APAC to Boost the Global Molybdenum Market| Technavio
LONDON–(BUSINESS WIRE)–#Chemicals–The global
molybdenum market is expected to grow at a CAGR of more than 3% from
2017-2021, according to a new market research report by Technavio.
Global molybdenum market segmentation by application and end-products
Technavio’s report on the global molybdenum market analyses the business
dimensions and presents a comprehensive breakdown in terms of market
segmentation by application, which includes oil and gas, automotive,
heavy machinery, energy along with aerospace and defense. As projected
in 2016, around 32% of the market share originated from oil and gas.
Based on end-products, the global
molybdenum market has been segmented into steel, chemicals,
foundries, mo-metals, and nickel alloys. As of 2016, 69% of the market
share came from steel.
“The global molybdenum market by the steel segment is anticipated to
experience high growth in terms of revenue during the forecast period.
The growth in the steel market is attributed to the increase in demand
for concrete in infrastructure, transportation, and other end-user
industries around the world,” says Mohd Shakeel Iqbal, a lead
analyst at Technavio for metals
and minerals research.
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Molybdenum market: competitive vendor landscape
The global molybdenum market is very concentrated. The major vendors of
the molybdenum market compete on factors such as operation cost, price,
economies of scale, product quality, and innovation. Centerra Gold,
China Molybdenum, Codelco, Freeport-McMoRan, and Grupo Mexico are the
leading players in the global molybdenum market. These vendors are
better equipped to withstand changes in market conditions owing to their
better technological, and financial resources.
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Other topics covered in the report:
Market drivers:
- High demand from APAC
- Demand from automotive and construction industries
Market challenges:
- Volatility of steel prices
- Regulation on excess production capacity in steel industry
Market trends:
- Growing wind energy industry
- Increasing demand for stainless-steel from Turkey
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molybdenum market report free of cost
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