Market Size of Molybdenum Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Molybdenum Market Analysis
The Molybdenum Market is estimated to witness healthy growth, at an estimated CAGR of greater than 4%, over the forecast period.
COVID-19 has negatively affected the Molybdenum Market. However, the rising demand for steel in various industries is propelling the consumption of molybdenum.
- The increasing steel production in Asia-Pacific and growing demand from the energy sector are expected to drive market growth.
- The high cost of molybdenum will likely hinder the market's growth.
- Increasing demand for molybdenum-bearing chemicals is likely to augment the market's growth in the future.
- Asia-Pacific holds the major share in the consumption of molybdenum. The region is also expected to witness the fastest growth during the forecast period, owing to the largest automotive production in China and the growing construction industry within the region.
