Molybdenum Market Size –By Product (Primary Molybdenum and Secondary Molybdenum), By Application (Full Alloy, Stainless-Steel, Cast Iron, Catalysis, Nickel Alloy and Others), By End-use Industry (Construction, Automotive, Oil & Gas, Energy, Aerospace & Defense, Electronics, Industrial Machinery, Chemicals, Others) & Region – Global Forecasts 2024 - 2034.
- PUBLISHED ON
- 2024-09-30
- NO OF PAGES
- 330
- CATEGORY
- Chemicals & Materials
Market Overview
The Molybdenum (Mo) market is predicted to develop at a compound annual growth rate (CAGR) of 3.6% from 2024 to 2034, when it is projected to reach USD 7,976.43 Million in 2034, based on an average growth pattern. The market is estimated to reach a value of USD 5,375.85 Million in 2024.
SOURCE: We Market Research
The global
molybdenum (Mo) market is a critical segment of the metals industry, driven by
its diverse applications across various sectors, including steel manufacturing,
chemical production, electronics, and energy. Molybdenum is valued for its high
melting point, corrosion resistance, and ability to enhance the strength,
toughness, and wear resistance of alloys, particularly in steel.
The global
molybdenum (Mo) market refers to the international marketplace for the trading,
production, and consumption of molybdenum, a silvery-white metal primarily used
in steel alloys, chemical applications, and as a catalyst in various industrial
processes. The global molybdenum market is essential to various industries,
particularly those requiring high-performance materials, making it a critical
component of the global economy.
Market Scope
|
Report Attributes |
Description |
|
Market Size in 2024 |
USD 5,375.85 Million |
|
Market
Forecast in 2034 |
USD 7,976.43 Million |
|
CAGR % 2024-2034 |
3.6% |
|
Base
Year |
2023 |
|
Historic Data |
2016-2022 |
|
Forecast
Period |
2024-2034 |
|
Report USP
|
Production,
Consumption, company share, company heatmap, company production capacity,
growth factors and more |
|
Segments
Covered |
By Product, By
Application, By End-use Industry and By Region |
|
Regional Scope |
North America,
Europe, APAC, South America and Middle East and Africa |
|
Country
Scope |
U.S.; Canada;
U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia;
China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico;
Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Molybdenum (Mo) Industry: Dynamics & Restrains
Market opportunity:
We Market
Research: Molybdenum (Mo) Dashboard
Our marketing platform offers a comprehensive dashboard that provides clients with valuable insights into market trends over the years. Included below is a sample image of our dashboard, and specific PDF logins will be furnished to grant access to this insightful tool.
Molybdenum (Mo) Segmentation
Market- By Product Analysis
By Product, the Molybdenum
(Mo) market is categories into Primary Molybdenum and Secondary Molybdenum. Primary
Molybdenum dominate the market with the largest share, accounting for over 73%
of the market in 2023. The high market share is driven by the significant
demand from industries requiring high-purity molybdenum, such as steel
production, aerospace, and energy sectors. The direct extraction and processing
of molybdenum from ore allow for consistent supply and quality, making it the
preferred source for many high-end applications. Primary molybdenum refers to
molybdenum that is extracted directly from molybdenum ore, typically found as
molybdenite (MoS₂). This type of molybdenum is produced in dedicated molybdenum
mines and often processed to produce molybdenum metal, oxide, or other
compounds.
The
following segments are part of an in-depth analysis of the global Molybdenum
(Mo) market:
|
Market Segments |
|
|
By Product |
·
Primary Molybdenum ·
Secondary Molybdenum |
|
By Application |
·
Full Alloy ·
Stainless-Steel ·
Cast Iron ·
Catalysis ·
Nickel Alloy ·
Others |
|
By
End-use Industry |
·
Construction ·
Automotive ·
Oil & Gas ·
Energy ·
Aerospace & Defense ·
Electronics ·
Industrial Machinery ·
Chemicals ·
Others |
Molybdenum (Mo) Industry: Regional Analysis
Asia Pacific Market Forecast
Asia Pacific dominates the global Molybdenum (Mo) market, accounting for around 45% of the market share in 2023. The dominance of this region is primarily driven by China, which is the world's largest producer and consumer of molybdenum. China's extensive steel production industry, which heavily relies on molybdenum as an alloying agent, is a significant contributor to this high market share. The rapid industrialization in countries like India and South Korea also supports molybdenum demand in this region. China's environmental policies and efforts to reduce steel production to curb emissions can lead to fluctuations in the molybdenum market in Asia Pacific.
North America Market Statistics
North America is
a significant market for Molybdenum (Mo). The United States is a leading
producer of molybdenum, with significant mining operations in states like
Colorado, Utah, and Arizona. The region's well-established mining
infrastructure and technological advancements in molybdenum processing
contribute to its substantial market share. The U.S. focuses on advanced
applications of molybdenum in aerospace, defense, and energy, which supports
the region's demand.
Europe Market
Forecasts
Europe is
increasingly focusing on sustainable and eco-friendly production processes,
including recycling molybdenum, which is influencing market dynamics. Stringent
environmental regulations in Europe could impact both production and demand,
particularly in industries like steel manufacturing. The region's market share
is driven by demand from the automotive, aerospace, and energy sectors,
particularly in countries like Germany, France, and the UK.
Middle East & Africa Market Statistics
Molybdenum
production in this region is limited, with South Africa being one of the few
countries with notable molybdenum output. There is growing demand for
molybdenum in this region, particularly in oil and gas industries, which
require corrosion-resistant materials. The MEA region has potential for growth
in molybdenum demand, especially with the ongoing development of infrastructure
and industrial projects in the Gulf Cooperation Council (GCC) countries.
Key Market Players
The Molybdenum Market
is dominated by a few large companies, such as
·
Freeport-McMoRan Inc.
·
China Molybdenum Co., Ltd. (CMOC)
·
Codelco
·
Grupo México
·
Jinduicheng Molybdenum Group Co.,
Ltd.
·
Thompson Creek Metals Company Inc.
·
Antofagasta PLC
·
Molybdenum Corp of America
(Molycorp)
·
KGHM Polska Miedź S.A.
·
Rio Tinto
·
Southern Copper Corporation
·
Anglo American plc
·
Teck Resources Limited
·
Sumitomo Metal Mining Co., Ltd.
·
Yunshan Molybdenum Co., Ltd.
·
Tordivel AS
·
JAI A/S
·
Ximea GmbH
·
Photonfocus AG
· MVTec Software GmbH
1.
Global
Molybdenum (Mo) Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Global Molybdenum (Mo) Market
Scope and Market Estimation
1.2.1. Global Molybdenum (Mo) Overall
Market Size (US$ Bn), Market CAGR (%), Market forecast (2024 - 2034)
1.2.2. Global Molybdenum (Mo) Market
Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2034
1.3. Market Segmentation
1.3.1. Product of Global Molybdenum
(Mo) Market
1.3.2. Application of Global Molybdenum
(Mo) Market
1.3.3. End-use Industry of Global Molybdenum
(Mo) Market
1.3.4. Region of Global Molybdenum (Mo)
Market
2.
Executive Summary
2.1. Demand Side Trends
2.2. Key Market Trends
2.3. Market Demand (US$ Bn) Analysis
2019 – 2023 and Forecast, 2024 – 2034
2.4. Demand and Opportunity
Assessment
2.5. Demand Supply Scenario
2.6. Market Dynamics
2.6.1. Drivers
2.6.2. Limitations
2.6.3. Opportunities
2.6.4. Impact Analysis of Drivers and
Restraints
2.7. Pricing Trends Analysis
2.8. Overview of Technology Developments
2.9. Porter’s Five Forces Analysis
2.9.1. Bargaining Power of Suppliers
2.9.2. Bargaining Power of Buyers
2.9.3. Threat of Substitutes
2.9.4. Threat of New Entrants
2.9.5. Competitive Rivalry
2.10. PEST Analysis
2.10.1. Political Factors
2.10.2. Economic Factors
2.10.3. Social Factors
2.10.4. Technology Factors
2.11. Value Chain / Ecosystem Analysis
2.12. Key Regulation
3.
Global Molybdenum (Mo) Market Estimates & Historical Trend Analysis (2019 - 2023)
4.
Global Molybdenum (Mo) Market Estimates & Forecast Trend Analysis, by
Product
4.1. Global Molybdenum (Mo) Market
Revenue (US$ Bn) Estimates and Forecasts, by Product, 2019 - 2034
4.1.1. Primary Molybdenum
4.1.2. Secondary Molybdenum
5.
Global Molybdenum (Mo) Market Estimates & Forecast Trend Analysis, by
Application
5.1. Global Molybdenum (Mo) Market
Revenue (US$ Bn) Estimates and Forecasts, by Application, 2019 - 2034
5.1.1.Full
Alloy
5.1.2.Stainless-Steel
5.1.3.Cast
Iron
5.1.4.Catalysis
5.1.5.Nickel
Alloy
5.1.6. Others
6.
Global Molybdenum (Mo) Market Estimates & Forecast Trend Analysis, by
End-use Industry
6.1. Global Molybdenum (Mo) Market
Revenue (US$ Bn) Estimates and Forecasts, by End-use Industry, 2019 - 2034
6.1.1.Construction
6.1.2.Automotive
6.1.3.Oil
& Gas
6.1.4.Energy
6.1.5.Aerospace
& Defense
6.1.6.Electronics
6.1.7.Industrial
Machinery
6.1.8.Chemicals
6.1.9. Others
7.
Global Molybdenum (Mo) Market Estimates & Forecast Trend Analysis,
by Region
7.1. Global Molybdenum (Mo) Market
Revenue (US$ Bn) Estimates and Forecasts, by Region, 2019 - 2034
7.1.1. North America
7.1.2. Eastern Europe
7.1.3. Western Europe
7.1.4. Asia Pacific
7.1.5. Middle East & Africa
7.1.6. Latin America
8.
North
America Molybdenum (Mo) Market: Estimates & Forecast Trend Analysis
8.1.
North
America Molybdenum (Mo) Market Assessments & Key Findings
8.1.1. North America Molybdenum (Mo)
Market Introduction
8.1.2. North America Molybdenum (Mo)
Market Size Estimates and Forecast (US$ Billion) (2019 - 2034)
8.1.2.1. By Product
8.1.2.2. By Application
8.1.2.3. By End-use Industry
8.1.2.4. By Country
8.1.2.4.1. The U.S.
8.1.2.4.2. Canada
8.1.2.4.3. Mexico
9.
Western
Europe Molybdenum (Mo) Market: Estimates & Forecast Trend Analysis
9.1. Western Europe Molybdenum (Mo)
Market Assessments & Key Findings
9.1.1. Western Europe Molybdenum (Mo)
Market Introduction
9.1.2. Western Europe Molybdenum (Mo)
Market Size Estimates and Forecast (US$ Billion) (2019 - 2034)
9.1.2.1. By Product
9.1.2.2. By Application
9.1.2.3. By End-use Industry
9.1.2.4.
By
Country
9.1.2.4.1.
Germany
9.1.2.4.2.
Italy
9.1.2.4.3.
U.K.
9.1.2.4.4.
France
9.1.2.4.5.
Spain
9.1.2.4.6.
Benelux
9.1.2.4.7.
Nordics
9.1.2.4.8. Rest
of W. Europe
10. Eastern Europe Molybdenum
(Mo) Market: Estimates & Forecast
Trend Analysis
10.1. Eastern Europe Molybdenum (Mo)
Market Assessments & Key Findings
10.1.1. Eastern Europe Molybdenum (Mo)
Market Introduction
10.1.2. Eastern Europe Molybdenum (Mo)
Market Size Estimates and Forecast (US$ Billion) (2019 - 2034)
10.1.2.1. By Product
10.1.2.2. By Application
10.1.2.3. By End-use Industry
10.1.2.4. By Country
10.1.2.4.1.
Russia
10.1.2.4.2.
Hungary
10.1.2.4.3.
Poland
10.1.2.4.4.
Balkan & Baltics
10.1.2.4.5. Rest of E. Europe
11. Asia Pacific Molybdenum
(Mo) Market: Estimates & Forecast
Trend Analysis
11.1. Asia Pacific Market Assessments
& Key Findings
11.1.1. Asia Pacific Molybdenum (Mo)
Market Introduction
11.1.2. Asia Pacific Molybdenum (Mo)
Market Size Estimates and Forecast (US$ Billion) (2019 - 2034)
11.1.2.1. By Product
11.1.2.2. By Application
11.1.2.3. By End-use Industry
11.1.2.4. By Country
11.1.2.4.1. China
11.1.2.4.2. Japan
11.1.2.4.3. India
11.1.2.4.4. Australia & New Zealand
11.1.2.4.5. South Korea
11.1.2.4.6. ASEAN
11.1.2.4.7. Rest of Asia Pacific
12. Middle East & Africa Molybdenum
(Mo) Market: Estimates & Forecast
Trend Analysis
12.1. Middle East & Africa Market
Assessments & Key Findings
12.1.1. Middle
East & Africa Molybdenum
(Mo) Market Introduction
12.1.2. Middle
East & Africa Molybdenum
(Mo) Market Size Estimates and Forecast (US$ Billion) (2019 - 2034)
12.1.2.1. By Product
12.1.2.2. By Application
12.1.2.3. By End-use Industry
12.1.2.4. By Country
12.1.2.4.1. UAE
12.1.2.4.2. Saudi
Arabia
12.1.2.4.3. Turkey
12.1.2.4.4. South
Africa
12.1.2.4.5. Rest of
MEA
13. Latin America
Molybdenum (Mo) Market: Estimates &
Forecast Trend Analysis
13.1. Latin America Market Assessments
& Key Findings
13.1.1. Latin America Molybdenum (Mo)
Market Introduction
13.1.2. Latin America Molybdenum (Mo)
Market Size Estimates and Forecast (US$ Billion) (2019 - 2034)
13.1.2.1. By Product
13.1.2.2. By Application
13.1.2.3. By End-use Industry
13.1.2.4. By Country
13.1.2.4.1. Brazil
13.1.2.4.2. Argentina
13.1.2.4.3. Colombia
13.1.2.4.4. Rest of
LATAM
14. Country Wise Market:
Introduction
15. Competition Landscape
15.1. Global Molybdenum (Mo) Market Product
Mapping
15.2. Global Molybdenum (Mo) Market
Concentration Analysis, by Leading Players / Innovators / Emerging Players /
New Entrants
15.3. Global Molybdenum (Mo) Market Tier
Structure Analysis
15.4. Global Molybdenum (Mo) Market
Concentration & Company Market Shares (%) Analysis, 2023
16. Company Profiles
16.1. Freeport-McMoRan
Inc.
16.1.1. Company Overview & Key Stats
16.1.2. Financial Performance & KPIs
16.1.3. Product Portfolio
16.1.4. SWOT Analysis
16.1.5. Business Strategy & Recent
Developments
* Similar details would be provided
for all the players mentioned below
16.2. China Molybdenum
Co., Ltd. (CMOC)
16.3. Codelco
16.4. Grupo México
16.5. Jinduicheng
Molybdenum Group Co., Ltd.
16.6. Thompson Creek
Metals Company Inc.
16.7. Antofagasta PLC
16.8. Molybdenum Corp of
America (Molycorp)
16.9. KGHM Polska Miedź
S.A.
16.10. Rio Tinto
16.11. Southern Copper
Corporation
16.12. Anglo American plc
16.13. Teck Resources
Limited
16.14. Sumitomo Metal
Mining Co., Ltd.
16.15. Yunshan Molybdenum
Co., Ltd.
16.16. Others
17. Research
Methodology
17.1. External Transportations /
Databases
17.2. Internal Proprietary Database
17.3. Primary Research
17.4. Secondary Research
17.5. Assumptions
17.6. Limitations
17.7. Report FAQs
18. Research
Findings & Conclusion
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Frequently Asked Questions
What is the market size of Molybdenum (Mo) Market in 2024?
Molybdenum (Mo) Market was valued at USD 5,375.85 Million in 2024.
What is the growth rate for the Molybdenum (Mo) Market?
Molybdenum (Mo) Market size will increase at approximate CAGR of 3.6% during the forecasted period.
Which are the top companies operating within the market?
Major companies operating within the market are Freeport-McMoRan Inc., China Molybdenum Co., Ltd. (CMOC), Codelco, Grupo México, Jinduicheng Molybdenum Group Co., Ltd., Thompson Creek, Metals Company Inc., Antofagasta PLC, Molybdenum Corp of America (Molycorp), KGHM Polska Miedź S.A., Rio Tinto, Southern Copper Corporation, Anglo American plc and others.
Which region dominates the Molybdenum (Mo) Market?
Asia Pacific dominates the market with an active share of 45%.
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