The global market for Molybdenum was sized at 319.7 Thousand Metric Tons in 2024 and is projected to reach 397.2 Thousand Metric Tons by 2030, growing at a CAGR of 3.7% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The demand for molybdenum has been steadily increasing due to its essential properties and diverse applications. Technological advancements have led to the development of high-performance molybdenum alloys and composites, further expanding its use in critical industries. The ongoing transition towards renewable energy sources has also boosted the demand for molybdenum in the production of wind turbines and photovoltaic cells. Furthermore, the metal's biocompatibility has opened up new avenues in medical applications, such as in the manufacturing of implants and medical devices. Recycling of molybdenum from scrap metal and industrial waste has become an important aspect of the industry, promoting sustainability and resource efficiency.
The growth in the molybdenum market is driven by several factors. Firstly, the increasing demand for high-strength and corrosion-resistant steel in construction, automotive, and aerospace industries is a major driver. Secondly, the expanding renewable energy sector requires molybdenum for the production of efficient and durable components in wind and solar power systems. Thirdly, the electronics industry's growth, fueled by the proliferation of smartphones, computers, and other devices, is propelling the need for molybdenum in semiconductor and electronic applications. Additionally, advancements in chemical processing and the need for efficient catalysts are boosting the use of molybdenum compounds. Lastly, the push towards sustainability and recycling is enhancing the supply chain and reducing the environmental impact, further supporting the market's growth.
Global Molybdenum Market - Key Trends & Drivers Summarized
Molybdenum is a versatile and valuable metal known for its high melting point, strength, and resistance to corrosion. It plays a critical role in various industrial applications, including steel production, chemical processing, and electronics. In the steel industry, molybdenum is used as an alloying agent to enhance the strength, toughness, and wear resistance of steel products, making them suitable for demanding environments such as construction, automotive, and aerospace. In chemical applications, molybdenum compounds serve as catalysts for refining petroleum and producing various chemicals. Additionally, the metal's excellent thermal and electrical conductivity makes it ideal for use in electronic components and high-temperature furnaces.The demand for molybdenum has been steadily increasing due to its essential properties and diverse applications. Technological advancements have led to the development of high-performance molybdenum alloys and composites, further expanding its use in critical industries. The ongoing transition towards renewable energy sources has also boosted the demand for molybdenum in the production of wind turbines and photovoltaic cells. Furthermore, the metal's biocompatibility has opened up new avenues in medical applications, such as in the manufacturing of implants and medical devices. Recycling of molybdenum from scrap metal and industrial waste has become an important aspect of the industry, promoting sustainability and resource efficiency.
The growth in the molybdenum market is driven by several factors. Firstly, the increasing demand for high-strength and corrosion-resistant steel in construction, automotive, and aerospace industries is a major driver. Secondly, the expanding renewable energy sector requires molybdenum for the production of efficient and durable components in wind and solar power systems. Thirdly, the electronics industry's growth, fueled by the proliferation of smartphones, computers, and other devices, is propelling the need for molybdenum in semiconductor and electronic applications. Additionally, advancements in chemical processing and the need for efficient catalysts are boosting the use of molybdenum compounds. Lastly, the push towards sustainability and recycling is enhancing the supply chain and reducing the environmental impact, further supporting the market's growth.
Scope of the Study
The report analyzes the Molybdenum market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.Segments:
Application (Steel, Chemicals, Foundry, MO-Metals, Nickel Alloys, Other Applications); End-Use (Oil & Gas, Aerospace & Defense, Industrial, Automotive, Other End-Uses).Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.Key Insights:
- Market Growth: Understand the significant growth trajectory of the Steel Application segment, which is expected to reach 271.6 Thousand Metric Tons by 2030 with a CAGR of a 4.0%. The Chemicals Application segment is also set to grow at 2.9% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, sized at 28.9 Thousand Metric Tons in 2024, and China, forecasted to grow at an impressive 4.8% CAGR to reach 176.5 Thousand Metric Tons by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as ABSCO Ltd., Anglo American Plc, Antofagasta PLC, Centerra Gold Inc., China Molybdenum Co., Ltd. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Molybdenum Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Molybdenum Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Molybdenum Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Some of the 115 major companies featured in this Molybdenum market report include:
- ABSCO Ltd.
- Anglo American Plc
- Antofagasta PLC
- Centerra Gold Inc.
- China Molybdenum Co., Ltd.
- China Rare Metal Material Co. Ltd.
- Climax Molybdenum Company, a subsidiary of Freeport-McMoRan Inc.
- Codelco (Chile)
- Compañía Minera Antamina S.A.
- Grupo Mexico, S.A.B de C.V.
- Jinduicheng Molybdenum Co., Ltd.
- Moltun International
- Moly metal LLP
- Multi Metal Development Limited
- Rio Tinto Ltd.
Table of Contents
I. METHODOLOGYMII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISITALYSPAINRUSSIATURKEYREST OF EUROPESOUTH KOREATAIWANREST OF ASIA-PACIFICBRAZILMEXICOREST OF LATIN AMERICAIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
UNITED KINGDOM
ASIA-PACIFIC
INDIA
LATIN AMERICA
MIDDLE EAST
AFRICA
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- ABSCO Ltd.
- Anglo American Plc
- Antofagasta PLC
- Centerra Gold Inc.
- China Molybdenum Co., Ltd.
- China Rare Metal Material Co. Ltd.
- Climax Molybdenum Company, a subsidiary of Freeport-McMoRan Inc.
- Codelco (Chile)
- Compañía Minera Antamina S.A.
- Grupo Mexico, S.A.B de C.V.
- Jinduicheng Molybdenum Co., Ltd.
- Moltun International
- Moly metal LLP
- Multi Metal Development Limited
- Rio Tinto Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 458 |
| Published | February 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value in 2024 | 319.7 Thousand Metric Tons |
| Forecasted Market Value by 2030 | 397.2 Thousand Metric Tons |
| Compound Annual Growth Rate | 3.7% |
| Regions Covered | Global |
