Molybdic Acid Market - Forecast(2023 - 2028)

The total amount of Molybdic Acid exported from India to UAE is 6825.The prices of Molybdenum which is a raw material used in the preparation of Molybdic Acid are set to increase on the back of healthy demand from the oil and gas industry and a decline in supply growth. Molybdic Acid (85%) can be made by the thermal dehydration of Ammonium Heptamolybdate (NH4)6Mo7O24•4H2O. The Molybdenum Trioxide (MoO3) analysis of the typical product, 86-88%, suggests the formula (NH4)6Mo7O24, which contained 86.6% MoO3. The market for Molybdic Acid is spread worldwide. Molybdic Acid manufacturing is typically carried out in batch processes, with synthesis being followed by segregation. 

The market of Molybdic Acid is developed high in North America and West region of Europe because these reached maturity or a state of equilibrium after proofing stagnancy in terms of growth in new technological innovations and supply-demand chain. The market growth in Molybdic Acid revenues in many parts of the world happens to a sluggish pace over the forecast period. It is expected that the Agrochemicals and electronics industry remain the highest end-user in the global Molybdic Acid Market and it is followed by the Construction Industry.

The current price quoted for 500g of Molybdic Acid is around $126 to $145 by most manufacturers supplying the chemical.

The Molybdic Acid Market mostly is driven by the Consumer use industry for using building/construction materials and followed by the agrochemical and electronics industry. The demand for molybdic acid is rising rapidly from the end user industries which propel the growth of the market. The immense rising demand in Pakistan, Srilanka, Japan, India, and Korea for manufacturing molybdic acid components and other intermediates and derivative components of molybdenum is anticipated to drive the market over the forecast period.

The dependence of raw materials for molybdic acid also possess major challenge to the industry, as the minerals used for molybdic acid manufacturing from cast materials i.e., Molybdenum is cost-effective to form complicate chemical components. It affords greater versatility in preparing of the chemical component. Companies are trying to figure out the challenge for increasing the demand of Molybdic Acid Market.

 

 

The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Molybdic Acid Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. 

Molybdic Acid Market- By Application: Molybdic acid is used in the applications like building materials, Acts as oxidizing /reducing agents, chemical intermediates, corrosion inhibitors and others.

Molybdic Acid Market- By End-User Industry: Automotive, Electrical and electronics, Aerospace and defense, Chemical Processing Industry and others.

The Molybdic Acid Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:

The major Key players in this market include Sigma-Aldrich, 3B Scientific Corp, Finetech Industry Limited, Angene Chemical, Aronis, aber GmbH, Aurora Fine Chemicals LLC, Akos Consulting and Solutions and few more.