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

Molybdenum (Mo) Industry: Dynamics & Restrains

Market opportunity:

 

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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:

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