Molybdenum

Global Molybdenum Market to Reach 397.2 Thousand Metric Tons by 2030

The global market for Molybdenum estimated at 319.7 Thousand Metric Tons in the year 2024, is expected to reach 397.2 Thousand Metric Tons by 2030, growing at a CAGR of 3.7% over the analysis period 2024-2030. Steel, one of the segments analyzed in the report, is expected to record a 4.0% CAGR and reach 271.6 Thousand Metric Tons by the end of the analysis period. Growth in the Chemicals segment is estimated at 2.9% CAGR over the analysis period.

The U.S. Market is Estimated at 28.9 Thousand Metric Tons While China is Forecast to Grow at 4.8% CAGR

The Molybdenum market in the U.S. is estimated at 28.9 Thousand Metric Tons in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of 176.5 Thousand Metric Tons by the year 2030 trailing a CAGR of 4.8% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.2% and 2.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR.

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 STUDY:

The report analyzes the Molybdenum market in terms of units by the following Segments, and Geographic Regions/Countries:

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.

Select Competitors (Total 115 Featured) -

• 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.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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