The market molybdenum disulfide is expected to grow at a CAGR of more than 4% during the forecast period. Major factors driving the market studied are increasing steel production, growing demand from the energy sector.
- A high cost of molybdenum is expected to hinder the market.
- Asia-Pacific dominated the market across the globe with the largest consumption in country such as China, India, etc.
Key Market Trends
Increasing Demand for Aerospace and Defense
- Molybdenum is one of the essential materials for the aerospace and defense industry because of various properties, such as high-temperature stability, tensile strength, density, radiation protection, and excellent material machinability.
- In the aerospace industry, molybdenum is used to reduce the vibration and to improve the pilot and passenger comfort, as the material has high strength and less weight. It is also used for the stabilization of control surfaces for ailerons, elevators, and rudder sections of aircraft, helicopter rotor blades, and cockpit instrumentation.
- The commercial airline sector is expected to continue its decade-long trend of above-average growth rates. This market has been growing globally, particularly at a higher rate in the emerging economies, owing to increasing purchasing power.
- In the defense industry, it is used for the manufacturing of premier warheads, nozzles, and shaped charge liners. There has been an increase in defense budgets with the resurgence of global security threats for the United States, as well as the other countries like Russia, France, China, and several other countries.
- Overall, a steady growth rate in the aerospace and defense industry and increase in molybdenum applications in the segment are expected to provide huge opportunity to the molybdenum market for it to grow.
Asia-Pacific to dominate the Market
- Asia-Pacific is expected to be the fastest-growing region over the assessment period in Molybdenum Disulfide (MoS2) market, due to its usage in numerous end-use applications supported by the rapid growth in end-use industries, such as electronics, construction, general engineering, among others
- The growth of the manufacturing industry in Asia-Pacific, as a result of the shifting of manufacturing bases by global players, due to the availability of cheap raw materials and labor, has led to an increased demand for low friction coatings and lubricants.
- Moreover, countries, such as China, South Korea, Taiwan, and Japan are major electronics manufacturing hubs with demands coming from all over the world. Hence, the demand for MoS2, which goes into semiconductors, transistors, LEDs, lasers solar cells, and other microelectronic devices, is likely to remain steady.
- The construction industries are also witnessing tremendous growth, due to the increasing investments in infrastructure, in emerging economies, such as India, supported by rapid urbanization and purchasing power of the ever-increasing population in the region.
- All the aforementioned factors are increasing the demand for the market over the forecast period.
The molybdenum disulfide (MoS2) market is fragmented in nature. Some of the major players in the market include Anglo American, Rio Tinto, Freeport-McMoRan, MOLTUN, and Antofagasta plc, among others.
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