Market Scope and Research Methodology
This comprehensive report by Straits Research provides a detailed assessment of the global molybdenum market based on extensive primary and secondary research methodologies. Primary data was collected through interviews with industry professionals, while secondary research involved examining government publications, trade journals, company financials, and proprietary databases.
The study analyzes both quantitative and qualitative aspects of the market, including drivers, challenges, opportunities, trends, and competitive landscape. Market estimates have been derived using bottom-up and top-down approaches, providing a reliable outlook for stakeholders and investors.
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Segmentation Analysis
By End Product:
Steel (largest segment; CAGR of 4.24%)
Chemical
Foundry
MO-metal
Nickel Alloy
By End-User Industry:
Chemical and Petrochemical (leading sector; CAGR of 3.80%)
Oil and Gas
Automotive
Industrial Usage
Building and Construction
Aerospace and Defense
Others
Regional Insights
Asia-Pacific: Market Leader (CAGR: 4.64%)
Asia-Pacific accounts for the largest share of the global molybdenum market. With China being a dominant producer and consumer—home to major mines like the Yangjiazhangzi and Jinduicheng Molybdenum Mines—the region benefits from robust industrial activity and steel production. Post-pandemic industrial recovery and governmental support for manufacturing are reinforcing regional demand.
Europe: Fastest-Growing Market (CAGR: 3.04%)
Europe is poised for strong growth, largely driven by Germany’s automotive industry, the largest in Europe. The country’s 41+ automotive facilities make it a key market for high-performance steel. Moreover, EU-backed infrastructure projects and economic recovery programs are projected to increase demand for molybdenum-enhanced construction materials.
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Key Players in the Molybdenum Market
Grupo México
Codelco
Freeport-McMoRan
Teck Resources Limited
Rio Tinto
Antofagasta PLC
KGHM
Jiangxi Copper Corporation
Jinduicheng Molybdenum Co. Ltd
China Molybdenum Co. Ltd
Conclusion
The molybdenum market is on a steady growth trajectory, fueled by increased demand in the steel, energy, and chemical sectors. Although the high cost of molybdenum and the availability of substitutes may pose challenges, its unique properties and crucial role in high-performance applications are expected to maintain strong industrial relevance.
Frequently Asked Questions (FAQs)
1. What is the market value of the molybdenum industry in 2024?
The market was valued at USD 4.77 billion in 2024.
2. What is the projected CAGR for the molybdenum market?
The market is expected to grow at a CAGR of 4.07% from 2025 to 2033.
3. Which segment contributes the most to the molybdenum market?
The steel segment leads the market due to its high usage of molybdenum in alloying.
4. Which region holds the largest market share?
Asia-Pacific, particularly China, dominates the global molybdenum market.
5. What are the primary applications of molybdenum?
Molybdenum is used in steel production, energy systems, X-ray anodes, coatings, and catalysts.
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