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Report Overview
The global molybdenum market is expected to grow in the forecast period of 2025-2034 at a CAGR of 4.00%. Due to increasing global demand from different industries, the molybdenum market is rapidly expanding. This silvery-white, ductile, corrosion-resistant metal is increasingly getting more valued owing to its mechanical strength at high temperatures. It is essential for structural use because of its application in the steel industry for toughness, tensile strength, and hardenability. Additionally, the construction, aerospace, defense, chemical and petrochemical, and oil and gas sectors also depend heavily on molybdenum. Glass-melting furnace electrodes, friction-reducing sprayed coatings, and rotating X-ray anodes for clinical diagnostics are some of its many other widespread applications. Its heat sinks and thermal expansivity make it valuable in electronics and manufacturing. It withstands molten glass environments and increases production efficiency. As global infrastructure and technology continue to advance, the market value of molybdenum is expected to swell, with rising applications and increasing industrial dependence.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
Key Players in Molybdenum Market
Anglo American plc
Based in London, United Kingdom, Anglo American plc was founded in 1917 and is a major global provider of mining equipment. In addition to copper, platinum, and other metals, it is a leading producer of molybdenum. Large-scale mining operations in South America, especially in Chile and Peru, provide molybdenum for a wide range of steel, energy, and industrial applications through ethical and sustainable mining practices.
Antofagasta plc
Antofagasta plc is a Chilean mining company headquartered in London, United Kingdom, that was founded in 1888. Molybdenum is the main by-product of the company's operations, which are centred on the production of copper. The company caters to steel, aerospace, and chemical industries with advanced extraction technologies in order to increase efficiency and environmental sustainability related to molybdenum mining and processing.
China Molybdenum Co., Ltd.
China Molybdenum Co., Ltd. established in 1982, is located in Luoyang, Henan, China. Focused on global expansion, the company is one of the top producers of molybdenum to supply high-performance alloys, stainless steel, and energy to the automotive, aerospace, and industrial markets. Its diverse mining operations in China, Africa, and South America demonstrate its commitment to sustainability, maximizing resource utilization, and impeding its growth in the global metal markets.
Codelco
Codelco is a Chile-based mining company that was founded in 1955 and has its main office in Santiago. The company has grown to be a significant supplier of molybdenum, which is a byproduct of its massive copper mines. Codelco has great importance in the international markets of molybdenum; numerous industries, including oil and gas, aerospace, and construction depend on its product.
List of Key Players in Molybdenum Market
- Anglo American plc
- Antofagasta plc
- China Molybdenum Co., Ltd
- Codelco
- Freeport-McMoRan Inc.
- Grupo México
- Teck Resources Limited
- Rio Tinto
- KGHM
- Jiangxi Copper Corporation
- Jinduicheng Molybdenum Co. Ltd
- Others
Molybdenum Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global molybdenum market is expected to grow significantly over the coming years due to the increased demand from the steel industry, garnering a 4.00% CAGR through 2034.
The key driving factor of the market growth is the rising demand from various end-user industries such as oil and gas, among others.
Major growth factors for the global molybdenum market include steel demand, aerospace applications, renewable energy, technological advancements, and infrastructure development.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various product types of molybdenum in the market are steel, chemical, foundry, MO-metal, and nickel alloy, among others.
The significant end uses in the market are oil and gas, chemical and petrochemical, automotive, industrial usage, building and construction, and aerospace and defence, among others.
Key players in the molybdenum market include Anglo American plc, Antofagasta plc, China Molybdenum Co., Ltd, Codelco, Freeport-McMoRan Inc., Grupo México, Teck Resources Limited, Rio Tinto, KGHM, Jiangxi Copper Corporation, and Jinduicheng Molybdenum Co. Ltd, among others.
Asia Pacific is the fastest growing region at a CAGR of 5.2%.
The use of molybdenum in diverse industries, recyclability potential, and strong supply chain are some major trends and dynamics.
The COVID-19 pandemic affected the global market primarily by disrupting supply chains, lowering demand in key industries (like oil and gas, steel production, and automotive), and impacting mining operations due to lockdowns and workforce restrictions.
The research on the molybdenum market is based on several key factors that influence the supply, demand, pricing, and overall market dynamics. The research typically considers factors like demand from end-user industries and price volatility.
The petrochemicals, automobiles, industrial applications, building and construction, aerospace, and defense industries have significantly propelled the market growth.
According to the market report, the Asia Pacific region held the largest market revenue share.
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