Molybdenum Market: Global Industry Analysis and Forecast (2024-2030)

Molybdenum Market is anticipated to reach US$ 338.72 Bn. by 2030 from US$ 294.88 Bn. in 2023 at a CAGR of 2 % during a forecast period.

Molybdenum is a lightweight, robust, and extremely resilient metal with good corrosion resistance and a low coefficient of thermal expansion. It's a refractory metal used mostly in high-temperature applications. Steel, oil and gas, and the chemical industries all employ molybdenum bearings.

Molybdenum disulphide, a lubricant derived from molybdenum and sulphur, is being used to lubricate two-stroke motors, bicycle coaster brakes, ski waxes, and bullets, among other things. Furthermore, because of its geothermal origin, it saves the engine from wear and tear, which has a favourable influence on the market's growth. In addition, the usage of molybdenum in stainless steel alloys for tanker tankers and pharmaceutical and chemical mills is helping to drive market growth. In addition, the rising demand for stainless steel to manufacture stainless steel service pipes, which may address the worldwide problem of water leakage, is propelling the market forward. Furthermore, favourable government rules that enable stainless steel to be used in the food and beverage industry are boosting the market growth.To know about the Research Methodology :- Request Free Sample Report

In report, 2023 is considered a base year however 2023 numbers are on the real output of the companies in the market. Special attention is given to 2023 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.
Molybdenum Market Dynamics
According to the MMR report, global molybdenum production climbed by 3.7 percent in 2023 over the previous year. During the forecast period, rising energy demand from large-scale enterprises is likely to impact molybdenum demand. The increasing usage of molybdenum in specialty chemicals and steel applications is expected to aid the global molybdenum market growth. In 2023, molybdenum mine output in the United States increased by 25% to 44600 tonnes, with a conforming value of US$ 800 million.

The high price of molybdenum, on the other hand, is a key factor limiting the worldwide molybdenum market's growth. Furthermore, unless covered by a sufficient coating, molybdenum is not suitable for sustained service at temperatures beyond 500°C in an oxidizing environment, which is another factor expected to limit the global molybdenum market's growth throughout the forecast period.
COVID-19 IMPACT:
COVID-19 had a negative influence on the global molybdenum market in 2022. The demand for molybdenum fell in 2022 as a result of COVID-19-related lockdowns, which resulted in decreased steel output throughout the world, including in China.

The oil and gas sector makes extensive use of molybdenum, which is found in a variety of goods such as steels and refinery catalysts. The crude oil price fell substantially as a result of the COVID-19 pandemic, which resulted in widespread lockdown measures that severely limited movement. Brent crude oil fell from US$67.3 per barrel in December 2019 to US$18.4 per barrel in April 2022.
Molybdenum Market Segmentation Analysis
By Product, during the forecast period, the steel segment is expected to grow at the fastest rate, with a CAGR of 5.80 percent. Molybdenum is employed in a wide range of steel applications, including stainless steel, engineering steel, and tool steel, fuelling the market growth. Many grades of stainless molybdenum steel are more corrosion resistant than molybdenum-free grades of stainless steel, and the global molybdenum market is expected to increase significantly in the future.

By End-User Industry, The oil and gas segment was worth US$ XX Bn. in 2023 and is expected to grow at a CAGR of 5.40 percent from 2023 to 2030, reaching US$ XX Bn. by 2030. The oil and gas sector makes extensive use of molybdenum. In the oil and gas business, the APAC and MEA areas contribute the most. This is expected to account for 28,964.2 million lb. in 2023, or 50% of the Asian market, rising to XX million lb. in 2030, or XX.45%, with a CAGR of XX percent over the forecast period.

The Aerospace and Defence industry is likely to maintain its decade-long trend of faster-than-average growth. Due to rising buying power, this industry has been expanding internationally, with the developing markets growing at a faster rate.

It's employed in the defence sector to make top-of-the-line warheads, nozzles, and shaped charge liners. The return of global security concerns has resulted in a rise in military spending for the United States, as well as other countries such as Russia, France, China, and others. Overall, the aerospace and defence industry's consistent growth rate, as well as an increase in molybdenum applications in the segment, are expected to present a major potential for the molybdenum market to grow.
Molybdenum Market Regional Insight
In 2023, the APAC molybdenum market was worth US$ XX Bn., and it is expected to grow at a CAGR of roughly 5.12 percent from 2024 to 2030, reaching US$ XX Bn. in 2030. This growth is due to rapid progress and rising demand for materials in Asian countries including China, India, and Korea. The government's activities aimed at creating green and efficient specialty steel capacity are expected to boost the APAC molybdenum market. North America, on the other hand, had the second-largest market share of 21.10 percent in 2023, followed by markets in Europe and MEA. Growing demand for molybdenum from the oil and gas sector, as well as the aerospace and military industries, is likely to drive growth in these markets. China is the world's top producer of molybdenum. The China molybdenum market is expected to increase from 83,186.6 million lb in 2023 to XX million lb in 2030, according to the MMR report. Rio Tinto, China Molybdenum Co., Ltd., and Jjinduicheng Molybdenum Group, among others, are major Chinese manufacturers of molybdenum.

North America is expected to hold second-largest revenue share xx% of the global molybdenum market, followed by Europe, Latin America, and the Middle East, and Africa by 2030. Increased demand for molybdenum from the aerospace and defence industries is expected to drive growth in these markets.
Report Objectives:
Landscape analysis of the Molybdenum Market

competitive benchmarking

Past and current status of the industry with the forecasted market size and trends

Evaluation of potential key players that include market leaders, followers, and new entrants

Technology trends

Potential impact of micro-economic factors of the market

The report also helps in understanding the Molybdenum Market dynamics, structure by analysing the market segments and project the Molybdenum Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Molybdenum Market make the report investor’s guide.
Molybdenum Market Scope: Inquire before buying



Molybdenum Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 294.88 Bn.


Forecast Period 2024 to 2030 CAGR:
2 %
Market Size in 2030:
US $ 338.72 Bn.


 Segments Covered:
by Product
Steel
Chemical
Foundry
MO-Metal
Nickel Alloy
Other


by End-User Industry
Oil and Gas
Chemical and Petrochemical
Automotive
Industrial Usage
Building and Construction
Aerospace and Defense
Others


by Sales Channel
Manufacturer/Distributor
Aftermarket



Molybdenum Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Molybdenum Market Key Players
1 Freeport-McMoRan Inc.
2 China Molybdenum Co., Ltd.
3 Compania Minera Dona Ines De Collahuasi S.C.M.
4 Antofagasta plc
5 Jinduicheng Molybdenum Co., Ltd.
6 Grupo Méxicoh
7 Compañía Minera Antamina S.A.
8 Thompson Creek Metals Company Inc.
9 S.A.B. de C.V.
10 BHP Billiton Group
11 American CuMo Mining Corporation.
12 Moly metal LLP
13 Anglo American,
14 Rio Tinto
15 Moltun
16 Codelco
17 Others

Frequently Asked Questions:

1. Which region has the largest share in Market?
Ans: Asia Pacific region held the highest share in 2023.

2. What is the growth rate of  Market?
Ans: The Global Molybdenum Market is growing at a CAGR of 2 % during forecasting period 2024-2030

3. What is scope of the market report?
Ans: Global Molybdenum Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. What is the study period of this market?
Ans: The Global Molybdenum Market is studied from 2023 to 2030