Molybdenum Disulfide Market Size Worth USD 579.5 Million in 2032 | Emergen Research
Rising adoption of lubricants in various industries and increasing global utilization of Light Emitting Diode (LEDs) and lasers in electronic industries and awareness about water treatment and purification through MoS2 are key factors driving Molybdenum Disulfide (MoS2) Market revenue growth.
Vancouver, Dec. 27, 2023 (GLOBE NEWSWIRE) -- The global Molybdenum Disulfide (moS2) market size was USD 442.4 Million in 2022 and is expected to register a rapid revenue CAGR of 2.8% during the forecast period. Key drivers include the increasing adoption of lubricants in diverse industries, growing utilization of Light Emitting Diodes (LEDs) and lasers in electronic applications, and rising awareness of MoS2 applications in water treatment.
MoS2, an inorganic compound composed of one molybdenum atom and two sulfur atoms, comes in two essential forms: powder MoS2 and crystals MoS2. These forms play a crucial role in high-tech industries such as automotive, aerospace & defense, construction, chemical, and petrochemical sectors. The automotive segment, in particular, is experiencing significant growth due to the rising demand for lubricants and MoS2's exceptional temperature and pressure characteristics.
One notable development in the market is the creation of a microscopic super capacitor with enhanced storage capacity and compression by researchers from the Indian Institute of Science. This innovation opens doors for applications in street lights, consumer electronics, electric cars, and medical devices.
Despite the promising outlook, challenges in manufacturing processes, high costs, and limited conductivity pose potential obstacles. The intricate and resource-intensive manufacturing process requires precise conditions, contributing to higher operational expenses and pricing difficulties. Quality control measures add to production costs, potentially impacting the competitiveness of MoS2 in the market.
*Type Insights: Powder MoS2 Dominates Market Share*
In 2022, the powder MoS2 segment claimed the largest revenue share in the global MoS2 market. Powder MoS2's demand in lubrication, friction reduction, and as a solid lubricant drove this growth. Its low friction properties make it effective in automotive applications, dissipating friction and ensuring optimal performance. The segment's growth is further fueled by its resistance to high temperatures, stability in various industries, and high reflectivity benefiting aerospace and automotive industries.
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*Application Insights: Lubricants Segment Steadily Grows*
The lubricants segment is anticipated to witness a steady revenue growth rate during the forecast period. The rising adoption of lubricants in automotive, aviation, and aerospace industries drives this trend. MoS2, with its resistance to corrosion and chemical degradation, proves to be an ideal material for prolonging machinery lifespan and protecting delicate automotive components from harsh environments. Its use in lubricant production meets strict purity requirements, making it the preferred material in this application.
*End-Use Insights: Automotive Segment Takes Center Stage*
The automotive segment is poised to contribute significantly to the global MoS2 market's revenue share. The demand for lubricant materials in the automotive sector, coupled with MoS2's conductivity and high resistance, positions it as an ideal solution. Incorporating MoS2 components in vehicles can reduce friction, enhance fuel efficiency, and improve energy storage. MoS2's chemical stability and electrical conductivity also contribute to innovation and design flexibility in automotive production.
*Regional Insights: Asia Pacific Leads, North America and Europe Follow*
In 2022, the Asia Pacific market accounted for the largest revenue share in the global MoS2 market. The region, particularly China, Japan, South Korea, and India, witnessed rising demand in automotive and aviation industries. The North America market is expected to register the fastest revenue growth rate, driven by the chemical and petrochemical industries. In Europe, the demand for semiconductors, particularly in the UK, Germany, and France, positions it as a significant market player.
As the global MoS2 market continues to evolve, overcoming manufacturing challenges and exploring cost-effective alternatives will be critical for sustained growth.
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*Scope of Research *
*Report Details* *Outcome*
Market Size in 2022 USD 442.4 Million
CAGR (2022–2030) 2.8%
Revenue Forecast To 2032 USD 579.5 Million
Base Year For Estimation 2022
Historical Data 2019–2021
Forecast Period 2023–2032
Quantitative Units Revenue in USD Million, Volume in Kilotons and CAGR in % from 2023 to 2032
Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments Covered Type, application, end-use, and region
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country Scope U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies Profiled Rose Mill Company, China Molybdenum Co. Ltd, Moly Metal LLP, Omkar Speciality Chemicals Ltd., Yogi Dye Chem Pvt. Ltd., US Research Nanomaterials Inc., Sisco Research Laboratories Pvt Ltd., American Elements, DuPont, Fuchs, Ascensus LLC, G6 Materials Corp., Otto Chemie Pvt. Ltd., Merck KGaA, Tribotecc GMBH, Graphene Flagship, Exploiter Molybdenum Co., Ltd., Freeport-McMoRan, and Eprui Biotech Co. Ltd.
Customization Scope 10 hours of free customization and expert consultation
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*Major Companies and Competitive Landscape *
The global MoS2 market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective MoS2 products in the market. Some of the major companies included in the global MoS2 market report are:
· Rose Mill Company
· China Molybdenum Co., Ltd.
· Moly Metal LLP
· Omkar Speciality Chemicals Ltd.
· Yogi Dye Chem Pvt. Ltd.
· US Research Nanomaterials Inc.
· Sisco Research Laboratories Pvt Ltd.
· American Elements
· DuPont
· Fuchs
· Ascensus LLC
· G6 Materials Corp.
· Otto Chemie Pvt. Ltd.
· Merck KGaA
· Tribotecc GMBH
· Graphene Flagship
· Exploiter Molybdenum Co., Ltd.
· Freeport-McMoRan
· Eprui Biotech Co., Ltd.
*Strategic Development*
· On 23 December 2022, Scientists at KAUST and Aramco created a three-dimensional foam made of molybdenum disulfide that exhibits a structural hierarchy spanning seven orders of magnitude. This foam establishes an interconnected network, facilitating efficient charge transport, swift ion diffusion, and offering a mechanically robust and chemically stable foundation for electrochemical reactions. The remarkable electrochemical capabilities of the MoS2 foam surpass those of the majority of previously reported molybdenum disulfide-based anodes for Lithium-ion batteries, as well as state-of-the-art materials.
· On 10 June 2021, The FUCHS Group, a global player in the lubricants industry, officially agreed to purchase the lubricants business of Gleitmo Technik AB in Kungsbacka, Sweden. This acquisition would be integrated into FUCHS LUBRICANTS SWEDEN AB, its subsidiary. Through a Share Purchase Agreement, FUCHS will acquire 100% of the shares in Gleitmo Technik AB, encompassing the customer base, product portfolio, workforce, and a lease agreement for the Gleitmo office and warehouse in Kungsbacka.
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*Segments Covered in Report*
*For the purpose of this report, Emergen Research has segmented the global MoS2 market on the basis of type, application, end-use, and region:*
· *Type Outlook (Revenue, USD Million; 2019-2032)*
· · Powder Molybdenum disulfide
· Crystals Molybdenum disulfide
· *Application Outlook (Revenue, USD Million; 2019-2032)*
· · Lubricants
· Semiconductors
· Catalysts
· Others
· *End-use Outlook (Revenue, USD Million; 2019-2032)*
· · Automotive
· Aerospace & Defense
· Construction
· Chemicals and Petrochemical
· Others
· *Regional Outlook (Revenue, USD Million; 2019–2032)*
· North America
1. U.S.
2. Canada
3. Mexico
· Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
· Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
· Latin America
1. Brazil
2. Rest of LATAM
· Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of Middle East & Africa
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