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Molybdenum use set to rise after global fall
28/06/2010
Worldwide production and use of molybdenum dropped significantly during 2009 because of the global recession, statistics released by the International Molybdenum Association (IMOA) show.
Between 2005 and 2008, production throughout the world had risen steadily, peaking in 2008 at almost 502 million lbs. But in 2009, it fell to 466.5 million lbs.
Molybdenum use increased steadily to 469 million lbs by 2008. However, in 2009 it fell back to 410 million lbs, only slightly above 2005 use levels.
Tim Outteridge, Secretary-General of IMOA, said that cut backs in capital expenditure in many end use segments, had led to a decline in molybdenum use in 2009, but indications in the first quarter of 2010 were that use was set to rise again year on year.
“We are now seeing an increased demand for the enhanced stainless steel and high strength alloys in which molybdenum is a key alloying element,” he said. “The future for molybdenum is looking bright.”
General information for media
IMOA is a non profit trade association, representing the majority of the molybdenum industry worldwide. It works to raise awareness about the unique properties of molybdenum, its beneficial effects on materials performance, its safety in use and its contribution to sustainable development.
Molybdenum is added to alloy steels to improve strength, toughness, hardenability and weldability for numerous applications in the automotive, shipbuilding, construction, mining, chemical, oil & gas and energy generation industries. In stainless steels and superalloys, it improves corrosion resistance and high-temperature performance and finds uses in many industrial applications. It is also used in a variety of products from catalysts and lubricants to pigments and paint.
IMOA has a strict antitrust compliance policy which delegates of all meetings are required to observe. All such meetings are observed by legal counsel.
For more information please email the communications team at media@imoa.info.
For up-to-date information please follow IMOA on Twitter and LinkedIn.
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