MOLYBDENUM MARKET ANALYSIS

Molybdenum MarketSize and Trends

Market Trends

Among end-use industries, the automotive segment is expected to witness a significant growth in the near future. Molybdenum alloy is used in various automotive parts such as vehicle’s flywheel, clutch, and other parts, owing to its excellent strength to weight ratio, which makes molybdenum a vital material in automotive vehicles. Growing automotive industry results in increasing demand for molybdenum, thereby fueling the molybdenum market growth. According to the India Brand Equity Foundation (IBEF), the automobile market was valued at US$ 74 billion in 2015 and is expected to increase up to US$ 300 billion by 2026.

Among applications, the fertilizer segment is expected to show a significant growth in the global molybdenum market over the forecast period. Various manufacturers are focusing on launching new products and plant expansion to expand their product portfolio and to cater to increasing consumer demand, which in turn is driving growth of this segment. For instance, in April 2018, Artal Agrinutrients launched Artal Rice, which is a liquid mixture of molybdenum, boron, and zinc to improve yield and to increase number and size of grains.