Global molybdenum consumption is expected go grow by 4.5% in the next decade

Aug. 7, 2011 - PRLog -- METALSWEEK news, International Molybdenum Association released the report, that it is expected global molybdenum consumption grows by 4.5% per year between 2009 and 2019, power generation, construction and transport industry are the main motivation to promote the consumption. Molybdenum consumption is expected to grow by 6% per year during period of 2009-2019. Certain amount of growth is from the rapidly growing industry, but also from new areas. Power generation including renewable energy, wind turbine installations need to use the gears and bearings, and coal-fired power plants, super-alloys in the amount of these areas will grow, because the higher requirements on operation under high temperature. In the construction industry, the mainly driven is from urbanization process, especially in China, India and the Middle East. Other growth areas  are from processing and mechanical engineering industries, and it is expected the annual growth rate of these two sectors are 4.9% per year .
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From a regional perspective, China's annual molybdenum consumption growth rate is 5.8%, and other parts of the world are increased by 4.8%, the increase in Europe and America is less than 3%. Tim Outteridge, General of International Molybdenum Association, said the report fully describes the wide use of molybdenum, either as capital goods, or to meet end-user needs, can also play a role in cyclical industries, which will ensure the future sustainable growth .
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Oil and gas industry is the largest end-user of molybdenum, accounting for about 20 percent, mainly for oil refining catalyst, downhole flow control hardware appliances and products, heat exchangers and gas pipelines. The report also shows, transport sector is the second largest user of steel with molybdenum and its alloy products, such as passenger cars, heavy trucks and off-road vehicles, ships and trains, and this part is account for 18% of global molybdenum consumption. Demand for petrochemical and chemical industry accounted for 15% of global demand. Mechanical engineering industry is currently in strong performance in Europe, also in the upward trend in the United States, ranking fourth in molybdenum users, accounting for 12 percent of the world.

According to the organization's data, in 2009 there are around 212,000 tons of molybdenum (including waste molybdenum) is used to produce these products, engineering, steel (34%), steel (26%), and high-speed tool steel (10%), cast iron (7%), super-alloy (5%), molybdenum (5%) and chemical products (13%). From a regional perspective, China is the largest consumer of molybdenum metal, accounting for 26% of global consumption. Estimated in the next 10 years, molybdenum in China will increase the amount, and its proportion in world consumption may over 30% in 2019.
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