Molybdenum Market Overview
The Molybdenum is anticipated to
grow significantly from 2025 to 2035, driven by its extensive applications
across various industries. By 2025, the market is projected to reach a value of
around USD 8.47 Billion. Looking ahead to 2035, it is expected to expand
further to about USD 5.64 Billion. This represents an annual growth rate of 3.4%
over the ten-year period.
The global molybdenum (Mo) market
industry analysis 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.
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.
For instance, a temporary shutdown of a Dutch nuclear
reactor in late 2024 led to a shortage of molybdenum-99, a critical isotope in
medical imaging, highlighting the metal's significance beyond industrial
applications.
Molybdenum Market Drivers and Opportunities
Rising Demand for
High-Strength Steel & Alloys is anticipated to lift the Molybdenum market
during the forecast period
The global molybdenum market is
experiencing significant growth, largely driven by the increasing demand for
high-strength steel and alloys across various end-user industries. Molybdenum's
unique properties, such as enhancing strength, heat resistance, and corrosion
resistance, make it an essential component in steel production, which in turn
fuels its market expansion. According to the U.S.
Geological Survey (USGS), China accounted for about 40% of global molybdenum
production in 2024, while the United States contributed approximately 12%.
This significant production shares underscores China's
influence in the molybdenum market. In February 2025, China announced export
controls on five critical metals, including molybdenum, which are essential for
defense, clean energy, and other industries. These
restrictions are expected to impact global supply chains and may lead to
increased molybdenum prices, further influencing market dynamics. Molybdenum's
ability to enhance steel's strength and resistance to corrosion and high
temperatures makes it vital in producing high-strength and stainless steels.
Approximately 80% of molybdenum consumption is dedicated to steel production,
with the remainder used in chemicals, lubricants, and other applications. The
increasing adoption of HSS directly correlates with heightened molybdenum
demand. For instance, the automotive industry's move towards advanced
high-strength steels (AHSS) to meet stringent safety and efficiency standards
necessitates higher molybdenum content. Similarly, the energy sector's
expansion, particularly in renewable energy projects like wind turbines, relies
on molybdenum-enhanced steels for durability and performance.
Expansion of Oil & Gas
Exploration and Refining is a vital driver for influencing the growth of the
global Molybdenum market
The expansion of oil and gas
exploration and refining activities is a significant driver of the global
molybdenum market. Molybdenum's unique properties, such as high corrosion
resistance and the ability to withstand extreme temperatures, make it indispensable
in the oil and gas industry, particularly in the construction of pipelines,
drilling equipment, and refining infrastructure. In the oil and gas sector,
molybdenum is primarily used as an alloying element in steel to enhance
strength and resistance to corrosion and high temperatures. This is crucial for
components exposed to harsh environments, such as offshore drilling platforms
and deep-sea pipelines. The metal's ability to maintain structural integrity
under extreme conditions ensures the reliability and safety of oil and gas
operations. Investment in upstream oil and gas activities, which include
exploration and production, directly influences the demand for materials like
molybdenum. Global upstream CAPEX by oil producers is projected to increase
over the coming years, reflecting a commitment to expanding exploration and
refining capacities. This trend is expected to drive the molybdenum market; as
higher investments lead to increased infrastructure development requiring
molybdenum-enhanced materials.
Advancements in Molybdenum
Recycling and Sustainability Initiatives is poised to create significant
opportunities in the global Molybdenum market
Advancements in molybdenum recycling and sustainability initiatives are poised to create significant opportunities in the global molybdenum market during the forecast period. These developments are driven by technological innovations, environmental policies, and the growing demand for sustainable practices across industries. Technological advancements have significantly improved the efficiency and cost-effectiveness of molybdenum recycling. Modern hydrometallurgical techniques, for instance, have been developed to minimize waste and energy consumption during the recycling process. These innovations not only reduce the environmental footprint of molybdenum production but also enhance the supply chain by providing a steady source of recycled material. Recycling molybdenum offers substantial environmental benefits, including energy savings and reduced greenhouse gas emissions. Sensor-based sorting technologies, such as X-ray fluorescence (XRF), enable precise identification and separation of molybdenum-containing materials. Automated robotics enhance the efficiency and speed of sorting processes The process of recycling molybdenum scrap typically requires less energy compared to extracting and processing virgin ores, thereby decreasing the overall environmental impact. Economically, recycling contributes to resource conservation and cost savings, making industries more sustainable and resilient.
Molybdenum Market Scope
Report
Attributes |
Description |
Market Size in 2025 |
USD 5.64 Billion |
Market
Forecast in 2035 |
USD 8.47
Billion |
CAGR % 2025-2035 |
3.4% |
Base
Year |
2024 |
Historic Data |
2020-2024 |
Forecast
Period |
2025-2035 |
Report USP
|
Production, Consumption, company
share, company heatmap, company production capacity, growth factors and more |
Segments
Covered |
|
Regional Scope |
|
Country
Scope |
|
Molybdenum Market Report Segmentation Analysis
The Global Molybdenum Market industry
analysis is segmented into by End Product, by Grade, by Application, by
End-user Industry and by Region.
The Steel segment is anticipated to hold the highest share of the
global Molybdenum market during the projected timeframe.
On the basis of End-product, the market is bifurcated into Steel, Chemical, Foundry, MO-metal and Nickel Alloy. In 2024, Steel held the largest market share of 35%. Molybdenum is extensively used in steel production to enhance strength, hardness, weldability, and resistance to corrosion and high temperatures. The demand is particularly high in industries such as construction, automotive, and energy, where high-strength steel is essential.
The alloying agent dominated the market in 2024 and is predicted to
grow at the highest CAGR over the forecast period.
In terms of Application, the Molybdenum
market is segmented into Alloying agent, Catalyst, Lubricant, Pigment and
Refractory. Alloying agent is anticipated to hold the highest share of around
38% in the global Molybdenum market. Molybdenum is extensively used as an
alloying element to enhance strength, hardness, ductility, and corrosion
resistance. Stricter environmental standards have increased the need for
efficient catalysts in reducing emissions, thereby driving the demand for
molybdenum in catalytic applications.
The High Purity segment is
predicted to grow at the highest CAGR over the forecast period.
On the basis of Grade, the Molybdenum
market is classified into High Purity and Commercial Grade. High-Purity
Molybdenum segment is experiencing significant growth due to the increasing
demand for high-quality materials in advanced technological applications. High-purity
molybdenum, typically with a purity of 99.9% or higher, is essential for
applications requiring exceptional material performance, such as in
electronics, aerospace, and medical devices. While commercial-grade molybdenum
segment maintains a steady presence in the market. Its widespread use in construction, automotive, and other
industrial applications ensures consistent demand.
The Power Generation segment is expected to dominate the market during
the forecast period.
Based on End-user Industry, the Molybdenum
market is segmented into Steel Industry, Oil & Gas, Chemical &
Petrochemical, Automotive, Electronics & Electrical, Aerospace &
Defense, Energy, Medical & Healthcare, Mining & Metallurgy and Others. Oil
and Gas Industry sector holds a prominent share of the global molybdenum
market. Molybdenum's superior resistance to corrosion and high temperatures
makes it essential in drilling equipment, pipelines, and refining
infrastructure. Molybdenum-based catalysts are vital in
the chemical and petrochemical sectors, particularly for hydrocracking and
desulfurization processes, contributing to cleaner fuel production. The increasing demand for low-sulfur fuels has bolstered the use
of molybdenum in catalytic applications.
The following segments are part of an in-depth analysis of the global Molybdenum
market:
Market
Segments |
|
By End Product |
|
By Grade |
|
By Application |
|
By End-user Industry |
|
Molybdenum Market Share Analysis by Region
Asia Pacific is projected to hold the largest share of the global Molybdenum
market over the forecast period.
Asia Pacific Molybdenum market
accounted for a largest revenue share of around 60% in 2024, by China's significant role as both a leading producer and
consumer of molybdenum. Rapid industrialization and robust steel
manufacturing in countries like China and India have escalated the demand for
molybdenum, which is essential for enhancing steel strength and durability. China
is both the leading producer and consumer of molybdenum globally, driven by
rapid industrialization and robust steel production. Ongoing infrastructure
projects and urbanization efforts contribute to increased molybdenum
consumption in construction materials and machinery. In regions like Uttar
Pradesh, India, state policies on solid waste management are being developed to
promote recycling and sustainability, which could positively impact the
molybdenum recycling industry. North America is expected to hold significant
share in the global Molybdenum market. The United States, a significant player
in the North American molybdenum market, was sized at 28.9 thousand metric tons
in 2024. The region's developed industrial base utilizes molybdenum across
various sectors, including aerospace, automotive, and energy, maintaining
steady demand. Europe holds a considerable share of the molybdenum market,
driven by its robust industrial activities. Europe's well-established
automotive sector relies on molybdenum-enhanced steels for manufacturing
durable and lightweight components. The region's focus on energy
infrastructure, including oil and gas as well as renewable energy projects,
contributes to molybdenum demand.
Molybdenum Market Competition Landscape Analysis
the global Molybdenum market is poised for significant
growth, with key players investing heavily in technology and infrastructure. Molybdenum
companies are actively engaged in strategies such as mergers and acquisitions,
joint ventures, and technological innovations to strengthen their market
positions.
Global Molybdenum
Market Recent Developments News:
November
2024: Freeport-McMoRan announced the acquisition of a minority interest in a
molybdenum processing facility in Finland. This investment is intended to
increase the company's processing capabilities and meet the growing demand for
high-purity molybdenum products.
December 2024: Jinduicheng introduced a
new line of high-purity molybdenum powders tailored for the electronics
industry. These products are designed to meet the
stringent quality requirements of semiconductor manufacturers.
July 2024: Antofagasta announced the
expansion of its Los Pelambres mine in Chile, aiming to increase molybdenum
production by 15% over the next three years. This
expansion is part of the company's strategy to capitalize on the rising global
demand for molybdenum.
June 2022: Alderan Resources and Rio Tinto subsidiary Kennecott Exploration (KEX) partnered in June 2022 to drill for copper and molybdenum at the Copper Gulch discovery in Utah's Frisco copper project. The Frisco project is 70% owned by KEX, who invested USD 30 million in it and obtained a 10-year exploration right. This investment emphasizes the strategic significance of investigating and creating additional copper and molybdenum sources.
The Global Molybdenum Market is dominated by a few large companies, such as
·
China Molybdenum Co., Ltd.
·
Freeport-McMoRan Inc.
·
Jinduicheng Molybdenum Co., Ltd.
·
Thompson Creek Metals Company
·
Grupo México
·
Molycorp Inc.
·
Rio Tinto
·
BHP Group
·
Anglo American plc
·
Codelco
·
Antofagasta PLC
·
Anglo American plc
·
Others
1.
Global
Molybdenum Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Global Molybdenum Market Scope
and Market Estimation
1.2.1. Global Molybdenum Overall Market
Size (US$ Bn), Market CAGR (%), Market forecast (2025 - 2035)
1.2.2. Global Molybdenum Market Revenue
Share (%) and Growth Rate (Y-o-Y) from 2021 - 2035
1.3. Market Segmentation
1.3.1. End Product of Global Molybdenum
Market
1.3.2. Grade of Global Molybdenum
Market
1.3.3. Application of Global Molybdenum
Market
1.3.4. End-user Industry of Global Molybdenum
Market
1.3.5. Region of Global Molybdenum
Market
2.
Executive Summary
2.1. Demand Side Trends
2.2. Key Market Trends
2.3. Market Demand (US$ Bn) Analysis
2021 – 2024 and Forecast, 2025 – 2035
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 Market Estimates & Historical Trend Analysis (2021 - 2024)
4.
Global Molybdenum Market Estimates & Forecast Trend Analysis, by
End Product
4.1. Global Molybdenum Market Revenue
(US$ Bn) Estimates and Forecasts, by End Product, 2021 - 2035
4.1.1. Steel
4.1.2. Chemical
4.1.3. Foundry
4.1.4. MO-metal
4.1.5. Nickel Alloy
5.
Global Molybdenum Market Estimates & Forecast Trend Analysis, by
Grade
5.1. Global Molybdenum Market Revenue
(US$ Bn) Estimates and Forecasts, by Grade 2021 - 2035
5.1.1. Solar Energy
5.1.2. Wind Energy
5.1.3. Others
6.
Global Molybdenum Market Estimates & Forecast Trend Analysis, by
End-user Industry
6.1. Global Molybdenum Market Revenue
(US$ Bn) Estimates and Forecasts, by End-user Industry, 2021 - 2035
6.1.1. Steel Industry
6.1.2. Oil & Gas
6.1.3. Chemical & Petrochemical
6.1.4. Automotive
6.1.5. Electronics & Electrical
6.1.6. Aerospace & Defense
6.1.7. Energy
6.1.8. Medical & Healthcare
6.1.9. Mining & Metallurgy
6.1.10. Others
7.
Global Molybdenum Market Estimates & Forecast Trend Analysis, by
Application
7.1. Global Molybdenum Market Revenue
(US$ Bn) Estimates and Forecasts, by Application, 2021 - 2035
7.1.1.Alloying
agent
7.1.2.Catalyst
7.1.3.Lubricant
7.1.4.Pigment
7.1.5.Refractory
8.
Global Molybdenum Market Estimates & Forecast Trend Analysis,
by Region
8.1. Global Molybdenum Market Revenue
(US$ Bn) Estimates and Forecasts, by Region, 2021 - 2035
8.1.1. North America
8.1.2. Eastern Europe
8.1.3. Western Europe
8.1.4. Asia Pacific
8.1.5. Middle East & Africa
8.1.6. Latin America
9.
North
America Molybdenum Market: Estimates & Forecast Trend Analysis
9.1.
North
America Molybdenum Market Assessments & Key Findings
9.1.1. North America Molybdenum Market
Introduction
9.1.2. North America Molybdenum Market
Size Estimates and Forecast (US$ Billion) (2021 - 2035)
9.1.2.1. By End Product
9.1.2.2. By Grade
9.1.2.3. By Application
9.1.2.4. By End-user
Industry
9.1.2.5. By Country
9.1.2.5.1. The U.S.
9.1.2.5.2. Canada
9.1.2.5.3. Mexico
10. Western Europe Molybdenum
Market: Estimates & Forecast Trend
Analysis
10.1. Western Europe Molybdenum Market
Assessments & Key Findings
10.1.1. Western Europe Molybdenum Market
Introduction
10.1.2. Western Europe Molybdenum Market
Size Estimates and Forecast (US$ Billion) (2021 - 2035)
10.1.2.1. By End Product
10.1.2.2. By Grade
10.1.2.3. By Application
10.1.2.4. By End-user
Industry
10.1.2.5. By Country
10.1.2.5.1.
Germany
10.1.2.5.2.
Italy
10.1.2.5.3.
U.K.
10.1.2.5.4.
France
10.1.2.5.5.
Spain
10.1.2.5.6.
Benelux
10.1.2.5.7.
Nordics
10.1.2.5.8. Rest
of W. Europe
11. Eastern Europe Molybdenum
Market: Estimates & Forecast Trend
Analysis
11.1. Eastern Europe Molybdenum Market
Assessments & Key Findings
11.1.1. Eastern Europe Molybdenum Market
Introduction
11.1.2. Eastern Europe Molybdenum Market
Size Estimates and Forecast (US$ Billion) (2021 - 2035)
11.1.2.1. By End Product
11.1.2.2. By Grade
11.1.2.3. By Application
11.1.2.4. By End-user
Industry
11.1.2.5. By Country
11.1.2.5.1.
Russia
11.1.2.5.2.
Hungary
11.1.2.5.3.
Poland
11.1.2.5.4.
Balkan & Baltics
11.1.2.5.5. Rest of E. Europe
12. Asia Pacific Molybdenum
Market: Estimates & Forecast Trend
Analysis
12.1. Asia Pacific Market Assessments
& Key Findings
12.1.1. Asia Pacific Molybdenum Market
Introduction
12.1.2. Asia Pacific Molybdenum Market
Size Estimates and Forecast (US$ Billion) (2021 - 2035)
12.1.2.1. By End Product
12.1.2.2. By Grade
12.1.2.3. By Application
12.1.2.4. By End-user
Industry
12.1.2.5. By Country
12.1.2.5.1. China
12.1.2.5.2. Japan
12.1.2.5.3. India
12.1.2.5.4. Australia & New Zealand
12.1.2.5.5. South Korea
12.1.2.5.6. ASEAN
12.1.2.5.7. Rest of Asia Pacific
13. Middle East & Africa Molybdenum
Market: Estimates & Forecast Trend
Analysis
13.1. Middle East & Africa Market Assessments
& Key Findings
13.1.1. Middle
East & Africa Molybdenum
Market Introduction
13.1.2. Middle
East & Africa Molybdenum
Market Size Estimates and Forecast (US$ Billion) (2021 - 2035)
13.1.2.1. By End Product
13.1.2.2. By Grade
13.1.2.3. By Application
13.1.2.4. By End-user
Industry
13.1.2.5. By Country
13.1.2.5.1. UAE
13.1.2.5.2. Saudi
Arabia
13.1.2.5.3. Turkey
13.1.2.5.4. South
Africa
13.1.2.5.5. Rest of
MEA
14. Latin America
Molybdenum Market: Estimates &
Forecast Trend Analysis
14.1. Latin America Market Assessments
& Key Findings
14.1.1. Latin America Molybdenum Market
Introduction
14.1.2. Latin America Molybdenum Market
Size Estimates and Forecast (US$ Billion) (2021 - 2035)
14.1.2.1. By End Product
14.1.2.2. By Grade
14.1.2.3. By Application
14.1.2.4. By End-user
Industry
14.1.2.5. By Country
14.1.2.5.1. Brazil
14.1.2.5.2. Argentina
14.1.2.5.3. Colombia
14.1.2.5.4. Rest of
LATAM
15. Country Wise Market:
Introduction
16. Competition Landscape
16.1. Global Molybdenum Market Product
Mapping
16.2. Global Molybdenum Market
Concentration Analysis, by Leading Players / Innovators / Emerging Players /
New Entrants
16.3. Global Molybdenum Market Tier
Structure Analysis
16.4. Global Molybdenum Market
Concentration & Company Market Shares (%) Analysis, 2023
17. Company Profiles
17.1. China Molybdenum
Co., Ltd.
17.1.1. Company Overview & Key Stats
17.1.2. Financial Performance & KPIs
17.1.3. Product Portfolio
17.1.4. SWOT Analysis
17.1.5. Business Strategy & Recent
Developments
* Similar details would be provided
for all the players mentioned below
17.2. Freeport-McMoRan
Inc.
17.3. Jinduicheng
Molybdenum Co., Ltd.
17.4. Thompson Creek
Metals Company
17.5. Grupo México
17.6. Molycorp Inc.
17.7. Rio Tinto
17.8. BHP Group
17.9. Anglo American plc
17.10. Codelco
17.11. Antofagasta PLC
17.12. Anglo American plc
17.13. Others
18. Research
Methodology
18.1. External Transportations /
Databases
18.2. Internal Proprietary Database
18.3. Primary Research
18.4. Secondary Research
18.5. Assumptions
18.6. Limitations
18.7. Report FAQs
19. Research
Findings & Conclusion
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Molybdenum Market was valued at USD 5.64 Billion in 2025.
Molybdenum Market size will increase at approximate CAGR of 3.4% during the forecasted period.
Major companies operating within the market are China Molybdenum Co., Ltd., Freeport-McMoRan Inc., Jinduicheng Molybdenum Co., Ltd., Thompson Creek Metals Company, Grupo México, Molycorp Inc., Rio Tinto, BHP Group, Anglo American plc, Codelco, Antofagasta PLC, Anglo American plc and others.
Asia Pacific dominates the market with an active share of 60%.
Only Three Thousand Four Hundred Ninety Nine US dollar
Only Four Thousand Four Hundred Ninety Nine US dollar
Only Five Thousand Four Hundred Ninety Nine US dollar