Molybdenum Market is estimated to be US$ 5.8 billion by 2030 with a CAGR of 2.50% during the forecast period

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10 May, 2023, 06:08 ET

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COVINA, Calif., May 10, 2023 /PRNewswire/ -- According to Prophecy Market Insights" Global Molybdenum Market accounted for US$ 4.6 billion in 2020 and is estimated to be US$ 5.8 billion by 2030 and is anticipated to register a CAGR of 2.50%"

What is the Overview of Molybdenum Market?

Molybdenum is metallic element which resembles tungsten and chromium in various properties and used in hardening and strengthening of steel material. Molybdenum is used as catalysts, in alloys, lubricants, fertilizer and pigments.

Growing demand for steel industries has become a key factor in market growth. Wide variety of benefits and growing use in production of high-quality nozzles, warheads, shaped-charge liners in defense sector is expected to boost the demand for Molybdenum market growth in future.

Key Highlights:

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What is Prophecy's Analyst View on Molybdenum Market?

Wide applications in aerospace, industrial, energy, medical, transportation and agricultural sector has provided lucrative opportunities in market growth. Growing demand from energy sector and rising infrastructure projects is expected to fruitful the demand for Molybdenum market growth in future.

What are some challenges faced by the Molybdenum Market?

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Who are the Key Manufacturers in Molybdenum Market?

What are the Drivers and Restrains of Molybdenum Market?

Drivers:

Restrains:

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Geographical insights on Molybdenum Market:

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About Prophecy Market Insights:

Prophecy Market Insights is a leading provider of market research services, offering insightful and actionable reports to clients across various industries. With a team of experienced analysts and researchers, Prophecy Market Insights provides accurate and reliable market intelligence, helping businesses make informed decisions and stay ahead of the competition. The company's research reports cover a wide range of topics, including industry trends, market size, growth opportunities, competitive landscape, and more. Prophecy Market Insights is committed to delivering high-quality research services that help clients achieve their strategic goals and objectives.

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