Molybdenum Market Poised for a High Growth By 2031 The molybdenum market has been gaining significant traction over the past few years owing to increasing demand from end-use industries such as construction, transportation, and oil and gas. Molybdenum is a transition metal known for its strength and resistance to corrosion. It is often used as an alloying agent to impart these properties to steel, cast iron, stainless steel and superalloys. Around 50% of all molybdenum produced worldwide is used in the production of alloy steels due to its ability to enhance hardness, toughness and strength even at high temperatures. It is also used as a lubricant, catalyst, pigment and chemical reagent across various other industries. The global molybdenum market is estimated to be valued at US$ 2 billion in 2031 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2031. Get More Insights Molybdenum Market https://www.zupyak.com/p/4392315/t/molybdenum-market-is-transitioning-to-a-more-data-driven-approach-by-2024