Molybdenum Market Size, Share, Demand, Growth & Trends by 2026
The global molybdenum market is anticipated to grow at a standard growth rate of 3.8% from 2017 to 2026. The advancing chemicals industry will aid the growth of the molybdenum market as chemicals containing the same will likely escalate in demand. Also, the high demand for steel alloy owing to rapid urbanization will further aid the molybdenum market during the projected period. Molybdenum is a silvery-white hard metal with the sixth-highest melting point. It is a far-superior metal with a wide range of mechanical and chemical properties which make it the perfect metal for creating high-strength alloys and super alloys. Molybdenum is in high demand in many industries owing to its high corrosion resistance, high thermal conductivity, and high melting point. The metal, thus, gains application in aerospace, industrial, chemicals and petrochemicals, consumer, medical, energy, agricultural, and transportation industries. Some examples of the metal’s usage include the lighting industr