Global Ferromolybdenum Market Overview:
Ferromolybdenum is Manufactured Mainly by the Combination of Iron & Molybdenum. Addition of Molybdenum to Other Materials Results in Improved Weldability, Corrosion & Wear Resistance. It is Produced by the Aluminothermic Reduction of Ferro Silicon & Technical Grade Molybdic Oxide. After the Solidification of Metal, Sieving & Milling Operations are Carried Out, To Obtain Desired Size for Addition in Steel & Cast Iron. It Finds Its Usage in the Manufacturing of Heat Exchangers, Oil-Refining Equipment, Ship Propellers, Power Generators, Plastics Containers, & Many More
As per latest study released by AMA Research, the Global Ferromolybdenum market is expected to see growth rate of 8.2%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Increasing Utilization of Ferro Molybdenum in the Automotive Industry
Market Growth Drivers:
Rise in the Stainless Steel Industry Using Ferro Molybdenum as an Additive for Improving Corrosion Resistance and Growth in the Alloy Industry Utilizing Ferro Molybdenum for Variety of Applications
Challenges:
Presence of Alternatives Like Chromium & Vanadium May Pose a Challenge
Restraints:
Fluctuating Price of Raw Materials
Opportunities:
There is an Increased Opportunity for Market Growth, Owing to Use of Ferro Molybdenum as a Raw Material for Manufacturing Machine Tools & Equipment, Military Hardware, Refinery Tubing, Load-Bearing Parts & Rotary Drills and There are Prospects for Market Expansion, Due to Increased Adoption of Ferro Molybdenum in Equipment Manufacturing Industry
Competitive Landscape:
The Market for Ferromolybdenum is Fragmented with the Presence of Different Players. Owing to Booming Industrialization, there are Growing Prospects for the New Players to Enter the Market
Some of the key players profiled in the report are Thompson Creek Window Co (United States), Freeport-McMoRan (United States), Miller And Company (United States), Minmat Ferro Alloys (P) Ltd (India), MidUral Group (Russia), SeAH M&S (South Korea), CRONIMET Mining AG (Germany), Jinduicheng Molybdenum Group Co., Ltd. (China), Rio Tinto Kennecott (United States) and SMR (Russia). Additionally, following companies can also be profiled that are part of our coverage like Jayesh (India), Arth Metallurgical Pvt. Ltd. (India), Georgian American Alloys Inc. (United States) and Taiyo Koko Co Ltd (Japan). Analyst at AMA Research see United States Vendors to retain maximum share of Global Ferromolybdenum market by 2030. Considering Market by Packing, the sub-segment i.e. Drum will boost the Ferromolybdenum market. Considering Market by Sales Channel, the sub-segment i.e. Direct Sales will boost the Ferromolybdenum market.
Latest Market Insights:
In February 2023, Thompson Creek Window Company announces its latest market expansion to Philadelphia, PA. The new office location opened this week in Norristown, PA, and Philadelphia area homeowners have begun scheduling in-home consultations and virtual demonstrations.
In February 2023, Thompson Creek Window Company announced its latest market expansion into Philadelphia with a new office location opening in Norristown, Pennsylvania. Philadelphia area homeowners have begun scheduling in-home consultations and virtual demonstrations.
What Can be Explored with the Ferromolybdenum Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Ferromolybdenum Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Ferromolybdenum
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Ferromolybdenum market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Ferromolybdenum market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers of Ferromolybdenum, Distributors, Traders, & Suppliers, Importers & Exporters, Investors, Regulatory & Government Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.