Market Overview:

According to a new report by IMIR Market Research on Global Molybdenum Market size was USD 4.42 billion in 2023. The market is projected to grow at a CAGR of 4%, from USD 4.60 billion in 2024 to USD 6.29 billion in 2032. The sudden rise in CAGR is attributed to this market growth returning to the pre-pandemic level once the pandemic is over.

Market Scope and Definition:

Molybdenum is a silvery-white, highly ductile, and corrosion-resistant metal advertising great quality and mechanical stability at high temperatures. It is frequently used in rotating X-ray anodes. It is additionally helpful in clinical diagnostics, glass-melting heater terminals, and friction-reducing showered coatings for machine parts and car cylinder rings. It moreover makes warm sinks with warm expansivity and components safe to liquid glass. Worldwide demand for molybdenum is now positively affected by the growing oil and gas, chemical and petrochemical, development, aviation, and defense businesses. One of the main drivers propelling the advertise is the rising request for molybdenum within the steel industry to make strides in the hardenability, sturdiness, and tensile quality of steel. Molybdenum may be a chemical which has quality and is erosion resistance and has capacity to hold shape and to function in tall temperature. It is utilized as an alloying operator in structure and stainless steel.

Molybdenum is silvery-white shiny metal and is lightweight. It has properties such as strength, reliability and has moo degree of warm extension. It is the by-product of copper mining. It is utilized in numerous businesses such as oil and gas, overwhelming apparatus, automotive, vitality, aviation and defense, and others. Molybdenum has item sorts of basically steel, chemical, metal, alloy, and nickel among others. The expanding utilizes of molybdenum in numerous businesses such as aviation and defense, oil and gas, and others, will boost the demand for the molybdenum market. For occasion

• In October 2023, Greenland Resources, a Canadian mining company, entered an understanding with Outokumpu Europe, a stainless-steel producer, to supply the molybdenum. This agreement is anticipated to advantage the Outokumpu as the company will be able to secure the supply of molybdenum.

Market Dynamics:

Market Drivers-

Increasing Steel Production in China

Due to China's expanded steel production, the sector's need for molybdenum is growing rapidly. China is primarily dependent on molybdenum as an alloying metl strength and corrosion resistance of steel in the infrastructure sectors. China's building sector is booming because of ambitious infrastructure project, which will increase the demand for molybdenum in steel industry. One of the primary markets for steel which contains molybdenum in China's rapidly expanding automotive sector. Advanced steel grades with molybdenum content are becoming more popular result in increased demand for lightweight, fuel-efficient automobiles and the introduction of more stringent emissions regulations.

Due to the emphasis on wind energy and other renewable energy sources, China is also a significant molybdenum consumer. The country China's aspirations to build its renewable energy sector depend on manufacturing high-strength steel, which requires molybdenum. Concerns including supply chain limitations and geopolitical unrest could affect the molybdenum market in addition to development possibilities. The molybdenum market's optimistic outlook is still supported by the world's shift to sustainable energy sources.

Rising demand for High-Strength Steel and Superalloys

Demand for molybdenum is surging due to the expanding use of superalloys and high-strength steel in a variety of businesses. Because of its prevalent mechanical qualities and resistance to erosion, high-strength steel—which incorporates molybdenum as a pivotal alloying element—is getting to be increasingly prevalent within the car, aviation, and development businesses. Use of molybdenum-reinforced high-strength steel is required due to the expanded need for high-rise building development and foundation advancement. Development ventures, these steel amalgams are perfect since they give expanded strength and auxiliary keenness.

High-strength steel grades containing molybdenum are getting to be broadly utilized due to the car industry, the drive towards light weighting. Molybdenum request is expanded by these amalgams they permit automakers to decrease vehicle weight while still assembly security and execution controls. Molybdenum-reinforced superalloys are fundamental within the aerospace industry for creating flying machine parts that ought to be exceedingly solid, heat-resistant, and corrosion-resistant. The market for molybdenum-based superalloys is anticipated to keep developing because of the developing request for discuss travel and the development of the aviation segment. The unused molybdenum-based combinations with progressed properties have been created progressions in metallurgical innovations and combination advancement.

Market Trends-

Increasing Demand from the Aerospace and Defense Industry

The aviation industry, molybdenum diminishes vibration and makes strides in pilot and traveler consolation, as the fabric has tall quality and less weight. India is the ninth-largest country in which Gracious Flying advertises is to become the biggest by 2032. 154 airplane terminals within the nation, is expected to extend to 190-210 by FY 2030. The rising armada estimate is the anticipated number of airplanes to 1,100 by 2028. In September 2021, the Service of Guard (MOD) marked a contract with M/s Airbus Guard. The 56 C-294 MW transport aircraft for the Indian Discuss Drive.

According to the Government Flying Organization. According to the CBO, the United defense investment was USD 742 billion in 2021 and expanded to USD 760 billion in 2022. Further, it is anticipated to reach around USD 1.5 trillion by 2032, propelling molybdenum usage within the segment. A steady development rate within the aviation and defense industry and an increment in molybdenum applications within the section are anticipated to give a gigantic opportunity for this market to develop.

Market Restraining Factors-

High Cost of Molybdenum Market

One of the most costly metals within the world is molybdenum. Molybdenum has been in more prominent request for a few a long time, and its cost has expanded altogether. Universally, the normal taken a toll of molybdenum bars, poles, profiles, plates, etc., was generally USD 53 per kg, compared to USD 23 and USD 30 for molybdenum powder and unwrought molybdenum, individually. Steel can be alloyed with twice as much chromium or three times as much manganese to have a comparative impact of hardenability to molybdenum.

Also, assortment of molybdenum substitutes is being inquired about to supplant the expensive metal with choices that are low-cost and tall performing. One such consider investigates the molybdenum substitution of manganese in low-alloyed bainite pliable press.

Report Coverage:

The report will cover the qualitative and quantitative data on the global Molybdenum Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations:

Molybdenum Market Players Analysis:

• Grupo Mexico SAB de CV
• Centerra Gold Inc.
• ABSCO Ltd.
• China Rare Metal Material Co. Ltd.
• Rio Tinto Ltd
• China Molybdenum Co. Ltd.
• Antofagasta Plc.
• Anglo American Plc.
• Corporacion Nacional del Cobre de Chile
• Freeport-McMoRan Inc.
• Southern Copper Corporation
• CODELCO

Key Industry Developments:

• In June 2022, Rio Tinto opened its completely automated Gudai-Darri research facility, which is integrated with the mine. This will give superior visibility of ore-grade stockpiles within the mining zone.
• In February 2023, the Indian government announced a budget of INR 5.94 trillion (~USD 72.6 billion) for FY 2023-24, an increment of 10% from the past financial year. The government plans to include unused warrior planes, gear, warships, and other military equipment with this budget.
• In June 2022, Kennecott Exploration (KEX), a partner of Alderan Assets within the Frisco copper project in Utah, drilled for copper and molybdenum on the Copper Gulch potential. A Rio Tinto backup, KEX, contributed USD 30 million and has the correct to 10-year investigation, giving it 70% ownership in Frisco.
• In April 2020, Tata Steel closed its manufacturing operations in Uttar Pradesh and Maharashtra due to restricted development and a deficiency of labor. The company endured a loss of nearly INR 4,648 crore (~USD 558.9 million) within the first quarter of 2021.

Molybdenum Market Segmentation Analysis:

by Product Type:

• Steel
• Chemical
• Foundry
• Molybdenum Metal
• Nickel Alloy

by Sales Channel:

• Manufacturer/Distributor
• Aftermarket

by End Use:

• Oil and Gas
• Automotive
• Heavy Machinery
• Energy
• Aerospace and Defense
• Others

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

Global Molybdenum Market Segmentation Insights:

The market scope is segmented based on by Insulation type, by Application, by End-User, and by region.

By Application

Based on the Application the market is segmented into Steel, Foundry, Alloys, Others.

Steel is expected to stay the dominant application contributing to more than half of the demand. When included in little sums, molybdenum makes strides in steel quality and durability, making it tougher and safer to overwhelming loads and impacts. It too upgrades erosion resistance by shaping a defensive oxide layer on the steel's surface, anticipating rust. Besides, molybdenum boosts the steel's warm resistance, making it reasonable for high-temperature applications, from development to aviation.

Foundries utilize molybdenum-enhanced castings to deliver basic components for businesses like aviation., where high-temperature resistance. Molybdenum is additionally utilized to form molds and centers for casting operations. Its tall softening point and amazing warm conductivity make it perfect for withstanding the extraordinary temperatures and warm cycling experienced within the casting preparation.

By End-User

Based on the End-User of the market is segmented into Oil & gas, Chemical & petrochemicals, Automotive, Construction, Aerospace & defense, Others.

The market is expected to observe profitable development inside the aviation & defense segment, reinforced by rising investing by assorted governments to brace their military control.

For the occasion, in February 2023, the Indian government detailed a budget of INR 5.94 trillion (~USD 72.6 billion) for FY 2023-24, an increase of 10% from the past budgetary year. The government plans to incorporate advanced warrior planes, adapt, warships, and other military hardware with this budget.

 Regional Snapshots:

The market was dominated by Asia Pacific. With a market share of 73.8% in 2022, Asia Pacific the largest region in terms of producing rough steel. Asia Pacific held 70.6% of the market in 2018, the World Steel Association reports. China was the region's biggest producer, producing 1,018 million tonnes of crude steel in 2022 as opposed to 928.3 million tonnes in 2018. During the projected period, the molybdenum market in Asia-Pacific is expected to be the largest worldwide. China Molybdenum Co. Ltd. The International Molybdenum Association (IMOA), China produced 63.1 million pounds of molybdenum, a promotion of 4% compared to the past quarter but a rise of 14%.

In 2021, the nation stood at 1,032.8 metric tons enrolling more than 50% of global production. China has expanded its 2022 defense budget by 7.9 percent to CNY 1.45 trillion (USD 229 billion) than last year's development. Too, 2025, China's added aircraft will likely reach 5,333, according to the Flying Industry Advancement Investigate Center of China, hence expanding the market considered.

Molybdenum Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S.
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report:

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Questions:

• How much the global Molybdenum Market valued?
• Which region has the largest share in 2022 for the global Molybdenum Market?
• What are the driving factors for the market?
• Which is the leading segment in the global market?
• What are the major players in the market?

Research Scope of Molybdenum Market:

• Historic year: 2019- 2022
• Base year: 2023
• Forecast: 2024 to 2032
• Representation of Market revenue in USD Million

Molybdenum Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: