Analysis of the global molybdenum market

Over the last several years the demand for energy has surged across all the major industrial sectors. With fast depletion of natural resources, manufacturers are being prompted to venture into the renewable energy sources. 

Installing bases for renewable energy production plants entails huge demand for various types of steel for construction purposes. This factor is projected to create a significant demand for molybdenum. Leading producers of molybdenum in the market are increasingly focusing on introducing new primary & by product operations, with an aim of alleviating their outputs, and catering to high molybdenum demand in special chemical and steel applications. Several regional and local vendors are providing application-specific products for a wide range of end-users. 

Future Market Insights’ (FMI) new report has projected the global molybdenum market to exhibit a modest expansion over the forecast period (2017-2026). Revenues from the global molybdenum market are estimated to exceed US$ 350,000 Mnby 2026-end.

Even though current cost of oil is low, molybdenum is expected to find the largest end-use in the oil & gas industry. Increasing investment in capacity, with subsequent oversupply for weaker demand has resulted into reduced capital spending on molybdenum-related projects. However, with the equilibrating oil market, recovering of prices, and investment returns, a sharp upturn will be observed in demand for molybdenum for end-use in the oil & gas industry. 

Meanwhile, a relatively faster expansion is projected for molybdenum sales for end-use in chemicals & petrochemicals sector. Revenues from sales of molybdenum for end-use in the mechanical engineering and the automotive sectors will also account for major shares of the market by 2026-end. 
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