Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 4.60 Billion | USD 6.29 Billion | 4% | 2024 |
FrequentlyAsked Questions
Molybdenum is a silvery-white transition metal, prominent for its resistance to corrosion, strength, and high melting point. It is mainly used as an alloying agent in superalloys and steel, where it remarkably improves toughness, hardness, and heat resistance, increasing its suitability in industries like aerospace, automotive, construction, and energy.
The global molybdenum market is projected to grow due to increasing use in petrochemical and chemical applications, growing use in automotive manufacturing, and surging production capacity and global mining activities.
According to study, the global molybdenum market size was worth around USD 4.60 billion in 2024 and is predicted to grow to around USD 6.29 billion by 2034.
The CAGR value of the molybdenum market is expected to be around 4% during 2025-2034.
Asia Pacific is expected to lead the global molybdenum market during the forecast period.
Emerging trends in the molybdenum market include its use in hydrogen infrastructure, rising use in renewable energy, advanced catalysts, and aerospace superalloys supported by the rising demand for high-performance materials. Innovations focus on low-carbon mining, recycling technologies, and alloy development to improve sustainability and reduce costs.
Molybdenum chemicals and catalysts are expected to offer significant growth opportunities, driven by rising demand in petrochemicals, refining, and environmental applications. Additionally, ferromolybdenum will experience steady growth as alloy and stainless steel production expands worldwide.
The molybdenum value chain includes concentration, mining, refining/conversion, roasting, and alloy fabrication, before reaching end-use industries. Final applications span aerospace, stainless steel, catalysts, electronics, and energy.
The key players profiled in the global molybdenum market include Freeport-McMoRan Inc., Codelco, China Molybdenum Co., Ltd. (CMOC), Anglo American plc, Jinduicheng Molybdenum Group Co., Ltd., Grupo México, Thompson Creek Metals Company, KGHM Polska Miedź S.A., Southern Copper Corporation, Centerra Gold Inc., Turquoise Hill Resources Ltd., Lundin Mining Corporation, Teck Resources Limited, Zijin Mining Group Co., Ltd., and BHP Group Limited.
The report examines key aspects of the molybdenum market, including a detailed analysis of existing growth factors and restraints, as well as an examination of future growth opportunities and challenges that will impact the market.
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