The global molybdenum disilicide market size is anticipated to be valued at USD 8.5 Billion in 2032 and exhibit considerable growth at a CAGR of 7.2% in the forecast period from 2022 to 2032. Growing preference for molybdenum disilicide over other compounds, including polysilicon is set to boost the market in the upcoming decade.
As per FMI, the global molybdenum disilicide market is projected to reach USD 4.1 Billion in 2022. Increasing use in the production of ceramics, electronics, steel, and glass is likely to accelerate the demand for molybdenum disilicide in the forthcoming years.
| Report Attribute | Key Statistics |
|---|---|
| Molybdenum Disilicide Market Estimated Base Year Value (2021) | USD 3.8 Billion |
| Molybdenum Disilicide Market Expected Market Value (2022) | USD 4.1 Billion |
| Molybdenum Disilicide Market Anticipated Forecast Value (2032) | USD 8.5 Billion |
| Molybdenum Disilicide Market Projected Growth Rate (2022 to 2032) | 7.2% CAGR |
Molybdenum disilicide, also known as molybdenum silicide is referred to as a refractory ceramic, a silicide of molybdenum, and an intermetallic compound. It is primarily used in various heating elements.
It is electrically conductive, has a melting point of 2030 °C, and possesses a moderate density. It turns to a passivation layer of silicon dioxide at high temperatures and thus help in protecting itself from oxidation.
Molybdenum disilicide has high emissivity and thermal stability that make the materials usable for numerous applications. It is extensively used as high emissivity coatings for atmospheric entry in heat shields.
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Surging use of molybdenum disilicide in refractory furnaces is one of the crucial factors that is anticipated to augment the market. Rapid expansion of the automotive sector with the rising demand for electric vehicles worldwide is set to provide traction for vehicle manufacturing materials, including glass, iron, and steel.
With the introduction of stringent norms by government agencies to prevent emissions of carbon in the atmosphere, vehicle manufacturers are using high-strength and lightweight steel components. Increasing adoption of novel steel components by the automotive industry worldwide is expected to boost demand for refectory furnaces, thereby pushing the global molybdenum disilicide market growth in the assessment period.
Manufacturing of refractory materials is a highly carbon-intensive process as it contains various steps such as curing, baking, and mining materials. Large amounts of carbon dioxide and numerous pollutants, including volatile organic compounds and carbon monoxide are emitted in the atmosphere during production processes.
Governments of various countries are set to put forward strict norms to regulate the release of such toxic gases in the atmosphere. Thus, refractory manufacturers are expected to reduce their carbon intensity, which may lead to lower margins. The above-mentioned restrictions can hamper sales of molybdenum disilicide in the evaluation period.
In terms of molybdenum disilicide market share, North America is estimated to dominate throughout the forecast period. Introduction of advanced glass melting technology across the USA and Canada is anticipated to spur growth. Building a glass furnace depends on the selection of refractory materials as the furnace’s operating period relies directly on the quality of refractories.
Presence of a well-established cement manufacturing industry in North America is also set to aid the regional market. Good quality refractory solutions help in surging the efficiency of cement manufacturing processes. Increasing use of refractory bricks in rotary kilns in the cement manufacturing industry is projected to drive the North America market.
In Asia Pacific, demand for molybdenum disilicide is anticipated to grow in the assessment period on the back of expansion of the iron and steel industry in India and China. As per the India Brand Equity Foundation (IBEF), India was the world’s second-largest producer of crude steel with an approximate output of 9.8 MT as of October 2021.
Easy availability of raw materials and affordable labor is set to propel the steel sector, thereby driving the regional market. Besides, expansion of the petrochemical industry is expected to push the need for specialized refractory materials, which would create new growth opportunities for key players across Asia Pacific.
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Some of the leading companies present in the global molybdenum disilicide market include Zhengzhou Chida, I Squared R, Yantai Torch, American Elements, Shanghai Caixing, MHI, ZIRCAR, SCHUPP, and Kanthal among others.
The majority of the renowned companies are focusing on expanding their manufacturing facilities, especially in untapped regions to cater to the ever-increasing demand from end-use industries. They are also aiming to engage in mergers and acquisitions with local companies to co-develop novel products and gain access to the latter’s innovative technologies.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2022) | USD 4.1 Billion |
| Market Forecast Value (2032) | USD 8.5 Billion |
| Growth Rate | CAGR of 7.2% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Temperature Grade, Application, Grade, End-use Industry, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profiled | USA., Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Zhengzhou Chida; I Squared R; Yantai Torch; American Elements; Shanghai Caixing; MHI; ZIRCAR; SCHUPP; Kanthal |
| Customization | Available Upon Request |
The global molybdenum disilicide market is set to exceed USD 8.5 Billion in 2032.
North America is set to lead the molybdenum disilicide market in the forecast period.
Zhengzhou Chida, I Squared R, Yantai Torch, American Elements, Shanghai Caixing, MHI, ZIRCAR, SCHUPP, and Kanthal are some of the renowned companies in the molybdenum disilicide market.
| Market Valuation (2023) | USD 316 Billion |
|---|---|
| Market Valuation (2033) | USD 500 Billion |
| Market CAGR (2023 to 2033) | 4.7% |
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