Molybdenum Market: Current Analysis and Forecast (2025-2033)

Global Molybdenum Market Size & Forecast

The Global Molybdenum Market was valued at USD 4,700 million in 2024 and is expected to grow to a strong CAGR of around 4% during the forecast period (2025-2033F), owing to the rising demand from the end-user industries.

Molybdenum Market Analysis

The global molybdenum market is experiencing notable growth with the rising demand from industries such as automotive, aerospace, defense, steel production, renewable energy, etc. With industries working on cleaner energy solutions, stronger and durable infrastructure, molybdenum is regaining prominence due to its high strength, resistance to heat, and anti-corrosive attributes. It is found in many applications, including high-performance steel and super alloys, colloidal semiconductors, solar panels, and wind turbines. Parallel to this, the supply and production of molybdenum are getting transformed by the worldwide sustainability movement and the disaggregation of supply chains. The growing economies in Asia-Pacific, Latin America, and Africa are also financing rapid construction activities and are therefore speeding up the use of molybdenum. At the same time, there are geopolitical pressures and the rise of resource nationalism changing the patterns of traded products and forming opportunities to explore and exploit new technology in refining and exploration.

Global Molybdenum Market Trends

This section discusses the key market trends that are influencing the various segments of the global Molybdenum market, as found by our team of research experts.

Shift Toward Sustainability & Renewable Energy:

With the global transition to low-carbon energy sources, molybdenum is increasingly becoming the key material in renewable energy. Its excellent heat resistance, corrosion resistance, and mechanical strength have been pivotal during the manufacture of solar panels, wind turbines, and hydrogen fuel cells. Molybdenum finds application in solar applications in the form of thin films in photovoltaic cells to create better electrical conductivity as well as durability in the long run. When it comes to wind power, it plays an essential role in high-performance steel used in the turbine structure components that require harsh environments.

Hydrogen-based energy systems are, in the meantime, heavily dependent on molybdenum-based catalysts and alloys capable of withstanding very high pressures and chemical reactions. This demand for clean tech is causing a radical change in molybdenum supply patterns, consumption, and appreciation. It is no longer merely a steel supplement, but it has become a strategic mineral that will shoot up the green transition. With the increasing pressure of governments on decarbonization and clean infrastructure, the contribution of molybdenum to the worldwide energy mix can only continue growing.

Molybdenum Industry Segmentation:

This section provides an analysis of the key trends in each segment of the global Molybdenum market report, along with forecasts at the global, regional, and country levels for 2025-2033.

The Steel Category has shown promising growth in the Molybdenum Market.

The market has been segmented on the basis of end products, such as steel, chemical products, foundry, molybdenum metal, and nickel alloy. Among those, steel has enjoyed a fair share in the market as it is used in numerous areas like construction, automotive, energy, and manufacturing. Molybdenum is an important alloying agent that improves the strength, corrosion resistance, and high-temperature stability of steel and cannot be spared in the production of high-strength low-alloy (HSLA) steels as well as stainless steels. With the continued buildup of infrastructure and industrialization in emerging economies (particularly in Asia-Pacific and the Middle East) the future demand of molybdenum in terms of steel applications is likely to be stable and it seems that molybdenum will continue being in demand in the coming years with government support and investment on the part of the private sector.

Oil & Gas Category Dominates the Molybdenum Market.

Based on end-use, the global molybdenum market is classified as oil & gas, chemical & petrochemical, automotive, industrial usage, building & construction, aerospace & defense, and others. Of these, the oil and gas industry has the largest market share, accounting for a significant portion of the global demand for molybdenum. The metal has been said to dominate due to the fact that it is usually utilized in the manufacturing of corrosion-resistant high-strength alloys, which are essential in special conditions like deep water structures, offshore rigs, offshore pipelines, and refineries. The increased energy need, most of all in the developing economies, and the further exploitation of deepwater and less expected reserves have solidified the industry's dependence on components based on molybdenum. Moreover, a higher world level of safety and environmental controls, as well as new demands on the material standards, are increasing the consumption of molybdenum-improved steels and superalloys.

North America is expected to grow at a considerable rate during the forecast period.

North America is a developed but strategic hot spot in the global molybdenum market. The US, in particular, is also a major producer and consumer, with substantial stocks and organized mining activities, especially in states such as Colorado and Arizona. The steel and energy markets generate most of the demand for molybdenum in the region as they are consumed in improving the strength and durability of the pipes, tools, and construction-related products. Consumption has been further supported by the increased domestic production and infrastructure investment aimed at such programs as the U.S. Infrastructure Investment and Jobs Act. Further, the increasing popularity of clean energy technologies, which North America displays, such as wind turbines, electric vehicles, and nuclear power, is increasing the range of molybdenum uses. As interest in critical mineral security grows, companies exploring new ways of recycling and processing, like in the region, also take an interest in more advanced technologies. This makes North America a secure and innovative contributor to the international molybdenum supply chain.

China is expected to grow at a considerable rate during the forecast period.

China is the central destination of molybdenum in the world, which is the largest producer and consumer market. Domestic supply is provided with the help of huge mining resources that the country possesses, particularly in provinces such as Shaanxi and Henan. China is the biggest consumer of molybdenum because of its huge amounts of steel and infrastructure industries, as well as the strong pace of construction, energy, shipbuilding, and machinery. Moreover, the growing interest in renewable energy and electric vehicles in China, together with the development of advanced manufacturing, is increasing the demand for molybdenum as the key material in high-performing alloys and technologies of the future. The government's policies to promote industrial upgrades and green development have continued to make China one of the world's leading giants in molybdenum consumption and innovativeness.

Molybdenum Industry Competitive Landscape:

The global Molybdenum market is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions.

Top Molybdenum Companies

Some of the major players in the market are KGHM, CMOC, Jinduicheng Molybdenum Co., Ltd., Climax Molybdenum, MOLYMET S.A., Japan New Metals Co. Ltd., Grupo México, BHP, Codelco, and Antofagasta plc.

Recent Developments in the Precipitated Calcium Carbonate Market

• In 2025, Jindal India Limited received approval from the state of Odisha (India) to build a new steel plant in Dhenkanal with a total cost of USD 420.2 million.

• In 2025, ArcelorMittal announced plans to build a new non-grain-oriented electrical steel (NOES) production facility in Alabama with a capacity of 150,000 tons.

Global Molybdenum Market Report Coverage

Reasons to Buy the Molybdenum Market Report:

• The study includes market sizing and forecasting analysis confirmed by authenticated key industry experts.

• The report briefly reviews overall industry performance at a glance.

• The report covers an in-depth analysis of prominent industry peers, primarily focusing on key business financials, type portfolios, expansion strategies, and recent developments.

• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

• The study comprehensively covers the market across different segments.

• Deep dive regional-level analysis of the industry.

Customization Options:

The global Molybdenum market can further be customized as per the requirements or any other market segment. Besides this, UnivDatos understands that you may have your own business needs; hence, feel free to contact us to get a report that completely suits your requirements.