Molybdenum & Metal Ore Mining in the US - Industry Market Research Report

Mining down: A rising world price of uranium will support industry revenue growth

The Molybdenum and Metal Ore Mining industry has proliferated. Industry performance mainly depends on downstream demand and the prices of different industry metals. Companies in this industry mine molybdenum, platinum, palladium, uranium and an array of metal-bearing ores and rare earth minerals. The industry's primary downstream markets are steel and chemical manufacturers, electricity generators and jewelry industries. The rapidly rising price of molybdenum, the primary source of industry revenue, buoyed industry performance during the period. In 2020, however, the outbreak of COVID-19 led to a temporary weakening in demand for metal ores. Conversely, as the economy recovered in the following year, so did industry revenue, rebounding from the previous cavern. Overall, industry-wide revenue has been growing at an average annualized 9.9% over the past five years and is expected to total $3.5 billion in 2023, when payment will jump by an estimated 2.4% and profit will reach 9.4%Companies in this industry mine molybdenum, platinum, palladium, beryllium, uranium and a range of other nonferrous metal-bearing ores, excluding gold, silver, copper, nickel, lead and zinc ores. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.