New York, NY -- (SBWIRE) -- 12/24/2020 -- Molybdenum is a silvery white metal with a grey cast and is the 54th most abundant element in the earth's crust as well as the 25th most abundant element in the oceans. It is used extensively in the oil & gas industry as well as in the construction industry. Apart from these, the metal is also used in other major sectors such as automotive, medical, aerospace industries, electronics and defence too. Molybdenum has a high melting point, low thermal expansion as well as it has a high shape stability.

Market Drivers
The size of the global molybdenum market is projected to expand during the forecast period. The major factor for the growth in the demand of Molybdenum market is the expanding heavy industries. The automotive industry is witnessing a major change in the form to electrification, which will influence the increase in the demand of consumption of steel in which molybdenum is used.

The report also considers the COVID-19 pandemic as one of the key factors influencing the growth of the market. The report provides a panoramic coverage of the impact of the COVID-19 pandemic on the overall Real-Time Payments market. According to our analysts, the market is poised to show lucrative growth in a post-COVID-19 scenario. The report further offers an overview of the market landscape, economic slowdown, and supply chain disruptions.

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Key players in the Molybdenum market include BHP Billiton Group, Jinduicheng Molybdenum Co., American CuMo Mining, Thompson Creek Metals, Moly Metal LLP, ENF Ltd., Compania Minera Dona Ines De Collahuasi S.C.M. and Freeport McMoran.

Regional Outlook
Asia Pacific region is currently seen as dominating the market, and the situation is expected to remain the same during the forecast period. In 2017, the global exports of Molybdenum amounted to USD 640 million in terms of revenue, of which China was the largest exporter amounting to 24% share followed by Japan at 9.9%.

Market has been divided by End products into:
- Steel
- Chemicals
- Foundries
- MO metals
- Nickel alloys

Market is divided into End User industry into:
- Oil & Gas
- Chemical & Petrochemical
- Automotive
- Industrial Usage
- Building & Construction
- Aerospace & Defense
- Others

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The Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Benefits of Global Molybdenum Market Report:
- Comprehensive analysis of the changing market dynamics
- A futuristic outlook on different factors influencing the market
- An 8-year forecast of the market growth and expected revenue growth
- Ease of understanding of the market, key segments, and their future growth
- In-depth analysis of the competitive landscape to give an advantageous edge for the companies
- Extensive insights into the market with in-depth analysis of the segmentation

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