Rhenium & Molybdenum Market Summary
Rhenium and molybdenum are two metals that are byproducts of the copper production process.
Molybdenum does not occur in pure state in nature, but is obtained in the form of molybdenum concentrate, that is, combined with other minerals. This concentrate, also called molybdenite, can be obtained directly (primary molybdenite) or as a byproduct of copper extraction activities (secondary molybdenite). Today, processed molybdenum is mainly a byproduct of copper.
Like molybdenum, rhenium does not occur in pure state in nature. This chemical element is usually combined with molybdenite, which in turn is a byproduct of copper. Therefore, rhenium is obtained by cleaning and treatment processes applied to molybdenite concentrates. Rhenium is mainly commercialized as metallic rhenium and ammonium perrhenate.
According to the new market research report “Global Rhenium & Molybdenum Market Report 2024-2030”, published by QYResearch, the global Rhenium & Molybdenum market size is projected to reach USD 5.97 billion by 2030, at a CAGR of 4.2% during the forecast period.
- Global Rhenium & Molybdenum MarketSize(US$ Million), 2019-2030
Above data is based on report from QYResearch: Global Rhenium & Molybdenum Market Report 2024-2030 (published in 2024). If you need the latest data, plaese contact QYResearch.
- Global Rhenium & Molybdenum Top13 Players Rankingand Market Share (Ranking is based on the revenue of 2023, continually updated)
Above data is based on report from QYResearch: Global Rhenium & Molybdenum Market Report 2024-2030 (published in 2024). If you need the latest data, plaese contact QYResearch.
According to QYResearch Top Players Research Center, the global key manufacturers of Rhenium & Molybdenum include Freeport-McMoran, Jinduicheng Molybdenum, Grupo Mexico, Rio Tinto, Codelco, Antofagasta plc, CMOC Group Limited, Molymet, Centerra Gold, Jiangxi Copper Company, etc.
In 2023, the global top five players had a share approximately 58.0% in terms of revenue.
- Rhenium & Molybdenum,Global Market Size, Split by Product Segment
Based on or includes research from QYResearch: Global Rhenium & Molybdenum Market Report 2024-2030.
In terms of product type, Molybdenum is the largest segment, hold a share of 93.3%,
- Rhenium & Molybdenum,Global Market Size, Split by ApplicationSegment
Based on or includes research from QYResearch: Global Rhenium & Molybdenum Market Report 2024-2030.
In terms of product application, currently Mechanical Manufacturing Industry is the largest segment, hold a share of 67.4%.
Market Drivers:
High-tech demand: Aerospace: Rhenium and molybdenum alloys have important applications in the aerospace industry. They are used to manufacture high-temperature alloy blades, turbine components, and missile parts, among others. Advances in aerospace technology and demand for high-performance materials are important drivers of the rhenium-molybdenum industry. Electrical and electronics: The use of molybdenum in electronic components, including transistors, diodes, and electrode materials, has driven the growth of molybdenum demand. Rhenium is also used in some high-end electronic components.
Demand in the energy sector: Nuclear industry: Molybdenum’s high melting point and excellent corrosion resistance make it used as a structural material and fuel cladding material in nuclear reactors, driving demand in the industry. Petrochemicals: Rhenium and molybdenum play an important role as catalysts in petroleum refining and the chemical industry, especially in catalytic reactions such as hydrodesulfurization.
Development of new materials and technologies: High-temperature alloys: Rhenium and molybdenum alloys exhibit excellent performance in extreme temperatures and environments, and the development of new materials has driven demand for these metals. 3D printing: Molybdenum and rhenium powders are used in metal 3D printing technology to manufacture complex, high-performance components, promoting the expansion of their application areas.
Restraint:
Raw material supply and resource scarcity: Resource scarcity: Rhenium is a rare metal with extremely low content in the earth’s crust, and its mining and extraction costs are high. Although molybdenum is more common, high-grade deposits are limited, and resource sustainability is a long-term issue. Unstable supply chain: The mining and production of rhenium and molybdenum are greatly affected by geographical location and political factors. Any political turmoil, trade restrictions or geopolitical conflicts may lead to supply chain disruptions.
High cost: High production cost: The extraction, purification and processing costs of rhenium and molybdenum are high. In particular, rhenium requires complex technology and a large amount of energy for its mining and production. Price fluctuations: The price of rhenium and molybdenum in the market fluctuates greatly, which brings uncertainty to production companies and affects investment and production decisions.
Technology and R&D bottlenecks: Technical difficulty: The high-performance application of rhenium and molybdenum requires complex metallurgical and processing technology, and the technical threshold for developing new materials and new processes is high, and the R&D cycle is long. Intellectual property protection: The research and development of high-tech materials is usually accompanied by strict intellectual property protection, and there may be obstacles to obtaining advanced technologies and patents.
Opportunity:
Growth in demand for high-tech and high-performance materials: Aerospace field: With the continuous development of aerospace technology, the demand for high-temperature alloys and high-strength materials continues to grow. Rhenium and molybdenum alloys have become key materials for manufacturing aero-engine components and turbine blades due to their excellent high-temperature properties and corrosion resistance. Electronics and Semiconductor Industry: Molybdenum’s applications in semiconductor manufacturing, including as a material for transistors and diodes, and as electrode materials in thin-film batteries and liquid crystal displays, are seeing increasing market demand.
Applications in the fields of new energy and environmental protection: Electric vehicles: The rapid development of electric vehicles requires high-efficiency power devices, and key components such as IGBT (Insulated Gate Bipolar Transistor) rely on high-performance molybdenum materials. Renewable energy: The demand for high-efficiency materials in solar cells and wind power equipment has increased. Molybdenum and rhenium are widely used in these fields, such as molybdenum electrode materials used to make high-efficiency solar cells. Environmentally friendly catalysts: The application of rhenium and molybdenum as catalysts in petrochemical industry, especially in hydrodesulfurization reactions, has significant environmental effects and is in line with global environmental protection trends.
Advanced manufacturing and new material development: 3D printing technology: The development of metal 3D printing technology has promoted the application of high-performance molybdenum and rhenium powders, enabling the manufacture of complex high-performance parts and broadening the application scope of these metals. Research and development of new materials: Continuously develop new high-performance alloys and composite materials to promote the application of rhenium and molybdenum in a wider range of fields, such as high-strength structural materials and high-temperature superconducting materials.
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