The forecasted data indicates a gradual decline in the import of molybdenum powder to India from 2024 to 2028. In 2023, imports stood at a certain baseline whereas by 2024 they are projected to reach 14.4 thousand kilograms. A year-on-year decrease of approximately 6.9% is seen from 2024 to 2025, followed by a decline of about 7.2% from 2025 to 2026. Over the five-year period ending in 2028, a compound annual growth rate suggests an average drop of 6.7% annually.
Future trends to watch for include:
- Global economic conditions affecting molybdenum prices and, subsequently, India's import volumes.
- Technological advancements and shifts in domestic production capabilities, which might reduce reliance on imports.
- Changes in Indian industrial demand, particularly in sectors like steel and electronics where molybdenum is heavily used.
