Molybdenum Market Size (2024 - 2029)

The Molybdenum Market is projected to experience significant expansion, driven by the increasing demand for steel across various industries and the rising consumption of molybdenum-bearing chemicals. Despite the challenges posed by the high cost of molybdenum, the market's growth is supported by the surge in steel production and energy sector demands, particularly in the Asia-Pacific region. This region not only dominates the market share due to its substantial automotive production and burgeoning construction industry but is also anticipated to exhibit the fastest growth during the forecast period.

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Market Size of Molybdenum Industry

Molybdenum Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 4.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Molybdenum Market Major Players

*Disclaimer: Major Players sorted in no particular order

Molybdenum Market Analysis

The Molybdenum Market is estimated to witness healthy growth, at an estimated CAGR of greater than 4%, over the forecast period.

COVID-19 has negatively affected the Molybdenum Market. However, the rising demand for steel in various industries is propelling the consumption of molybdenum.

  • The increasing steel production in Asia-Pacific and growing demand from the energy sector are expected to drive market growth.
  • The high cost of molybdenum will likely hinder the market's growth.
  • Increasing demand for molybdenum-bearing chemicals is likely to augment the market's growth in the future.
  • Asia-Pacific holds the major share in the consumption of molybdenum. The region is also expected to witness the fastest growth during the forecast period, owing to the largest automotive production in China and the growing construction industry within the region.

Molybdenum Industry Segmentation

Molybdenum is a silver-gray metal typically mined as a by-product of copper and tungsten extraction. Molybdenum improves strength, hardenability, weldability, toughness, increased temperature strength, and corrosion resistance when added to steel and cast irons. The Molybdenum Market is segmented by end product, end-user industry, and geography. By end product, the market is segmented into steel, chemical, foundry, MO-metal, nickel alloy, and other end products. As per the end-user industry, the market is segmented into oil and gas, chemical and petrochemical, automotive, industrial usage, building and construction, aerospace and defense, and other end-user industries. The report also provides insight into the production analysis in various countries worldwide. The report also covers the consumption market size and forecasts for the market in 12 countries across major regions. For each segment, market sizing and forecasts have been done based on volume (kilotons).

End Product
Steel
Chemical
Foundry
MO-Metal
Nickel Alloy
Other End Products (Other Alloys)
End-user Industry
Oil and Gas
Chemical and Petrochemical
Automotive
Industrial Usage
Building and Construction
Aerospace and Defense
Other End-user Industries
Geography
Production Analysis
China
United States
Chile
Peru
Mexico
Armenia
Other Countries
Consumption Analysis
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Russia
Rest of Europe
Rest of the World
South America
Middle-East and Africa
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Molybdenum Market Size Summary

The molybdenum market is poised for robust growth, driven by increasing steel production and demand from the energy sector, despite challenges posed by its high cost. The market is experiencing a resurgence as industries recover from the impacts of COVID-19, with Asia-Pacific leading in consumption and growth. This region's expansion is fueled by significant automotive production in China and a burgeoning construction industry. Molybdenum's critical role in the aerospace and defense sectors, due to its high-temperature stability and strength, further bolsters its demand. The aerospace industry benefits from molybdenum's properties, enhancing aircraft performance and comfort. Additionally, the defense sector's increasing budget and fleet expansion, particularly in the United States and China, are expected to drive further molybdenum consumption.

Asia-Pacific is anticipated to dominate the global molybdenum market, supported by rapid industrialization and rising consumption. China, a leading producer, significantly contributes to this growth, with its steel industry being a major consumer of molybdenum. The country's defense budget increase and projected growth in its aircraft fleet further augment the market's prospects. The molybdenum market is characterized by consolidation, with major players like Anglo American, Rio Tinto, and China Molybdenum Co. Ltd. holding substantial market shares. These companies are actively involved in exploration and production activities, ensuring a steady supply to meet the growing demand from various end-user industries.

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Molybdenum Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Steel Production in the Asia-Pacific Region

      2. 1.1.2 Growing Demand from the Energy Sector

    2. 1.2 Restraints

      1. 1.2.1 High Cost of Molybdenum

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

    5. 1.5 Import and Export Trends

    6. 1.6 Price Trends

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 End Product

      1. 2.1.1 Steel

      2. 2.1.2 Chemical

      3. 2.1.3 Foundry

      4. 2.1.4 MO-Metal

      5. 2.1.5 Nickel Alloy

      6. 2.1.6 Other End Products (Other Alloys)

    2. 2.2 End-user Industry

      1. 2.2.1 Oil and Gas

      2. 2.2.2 Chemical and Petrochemical

      3. 2.2.3 Automotive

      4. 2.2.4 Industrial Usage

      5. 2.2.5 Building and Construction

      6. 2.2.6 Aerospace and Defense

      7. 2.2.7 Other End-user Industries

    3. 2.3 Geography

      1. 2.3.1 Production Analysis

        1. 2.3.1.1 China

        2. 2.3.1.2 United States

        3. 2.3.1.3 Chile

        4. 2.3.1.4 Peru

        5. 2.3.1.5 Mexico

        6. 2.3.1.6 Armenia

        7. 2.3.1.7 Other Countries

      2. 2.3.2 Consumption Analysis

        1. 2.3.2.1 Asia-Pacific

          1. 2.3.2.1.1 China

          2. 2.3.2.1.2 India

          3. 2.3.2.1.3 Japan

          4. 2.3.2.1.4 South Korea

          5. 2.3.2.1.5 Rest of Asia-Pacific

        2. 2.3.2.2 North America

          1. 2.3.2.2.1 United States

          2. 2.3.2.2.2 Canada

          3. 2.3.2.2.3 Mexico

        3. 2.3.2.3 Europe

          1. 2.3.2.3.1 Germany

          2. 2.3.2.3.2 United Kingdom

          3. 2.3.2.3.3 Italy

          4. 2.3.2.3.4 France

          5. 2.3.2.3.5 Russia

          6. 2.3.2.3.6 Rest of Europe

        4. 2.3.2.4 Rest of the World

          1. 2.3.2.4.1 South America

          2. 2.3.2.4.2 Middle-East and Africa

Molybdenum Market Size FAQs

The Molybdenum Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

Anglo American, Rio Tinto, Antofagasta plc, Grupo México and China Molybdenum Co., Ltd. are the major companies operating in the Molybdenum Market.

Molybdenum Market Report Snapshots

Molybdenum Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)