![Molybdenum (Mo) Market Insights: Opportunities, Trends, Demand, Growth Outlook [2024-2030]](https://guestpostsubmission.com/wp-content/uploads/2024/12/Molybdenum-Mo-872x547.png)
How Big is the Molybdenum (Mo) Market?
The Global Molybdenum (Mo) Market size was valued at around USD 5.32 billion in 2023 & is anticipated to reach around USD 6.70 billion by 2030. The market is also estimated to grow at a CAGR of around 3.92% during the forecast period, i.e., 2024-30. The Global Molybdenum Market has seen a rise in the production volume of the element rising from 575.4 million pounds (mlbs) to 627.4 mlbs. Asia-Pacific holds the biggest pie in terms of production volume with China dominating the market. China has significantly increased its Molybdenum production output since 2019 from 205.6 mlbs to 281.8 mlbs in 2023. The second largest region of Molybdenum production is South America. Since 2019, the South American region has observed a decline of 10% in the elements production. While at the same time, element production in the rest of the world fell by 3%. The primary reason for this decline is attributed to rising environmental regulations and falling ore grades.
Market Statistics
- Market Size in 2023: USD 5.32 billion
- Market Size By 2030: USD 6.70 billion
- Market Growth Rate (CAGR): 3.92% from 2024-2030
✅In case you missed it, we are currently revising our reports. Click on the below to get the latest research data with forecast for years 2025 to 2030, including market size, industry trends, and competitive analysis. It wouldn’t take long for the team to deliver the most recent version of the report.
If you’re interested in the assumptions considered in this study, you can download the PDF brochure- https://www.marknteladvisors.com/query/request-sample/molybdenum-market.html
Molybdenum (Mo) Market Insight:
Driver-
Increasing Global Steel Production – The rise in steel production is the primary driver for molybdenum usage in the Global Molybdenum Market, it is to the point that 71% of the molybdenum was consumed in the production of various steel grades, amounting to 447.3 million pounds (184,058.4 metric tons) in 2023. The steel production will pick up its pace with the rise in demand. According to the World Steel Association, the short-term forecast for steel demand accounts for an increase of 2.96% from 1,599.4 million metric tons in 2023 to 1,646.7 million metric tons in 2025. Also, as the inflationary pressure on the global economy wanes due to high interest rates by the central banks over a prolonged period, any interest rate cut can lead to economic recovery boosting the steel demand. For instance,
- In June 2024, the European Central Bank lowered its interest rate by 25 basis points. The expectation for this resulted in a slight increase in production from April on a YoY basis. However, with the announcement, a significant rise in steel production of 5.1% on a YoY basis for June was observed in the European Union, this continued with the increase of 5.7% for July month yearly.
The decision to cut interest rates by major economies as the inflationary pressure declines can promote massive recovery in the global economy. This can lead to a rise in steel demand and production leading to growth in the Global Molybdenum Market.
Molybdenum (Mo) Market Segmentation:
The report has segmented the market into the following categories:
By Application
- Electric Conductivity- Market Size & Forecast 2019-2030, Thousand Tons
- Imaging- Market Size & Forecast 2019-2030, Thousand Tons
- Metal Alloys- Market Size & Forecast 2019-2030, Thousand Tons
- Catalyst- Market Size & Forecast 2019-2030, Thousand Tons
- Others- Market Size & Forecast 2019-2030, Thousand Tons
By End-User
- Oil & Gas- Market Size & Forecast 2019-2030, Thousand Tons
- Chemical & Petrochemical- Market Size & Forecast 2019-2030, Thousand Tons
- Electronics- Market Size & Forecast 2019-2030, Thousand Tons
- Iron & Steel- Market Size & Forecast 2019-2030, Thousand Tons
- Energy & Power- Market Size & Forecast 2019-2030, Thousand Tons
- Others (Aerospace & Defense, etc.)- Market Size & Forecast 2019-2030, Thousand Tons
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Browse Full Report Along with TOC and Figures – https://www.marknteladvisors.com/research-library/molybdenum-market.html
Competitive Landscape:
- Multi Metal Development Limited
- Anglo American
- BHP (Peru Antamina)
- Antofagasta PLC
- Centerra Gold Inc.
- CMOC Group
- Codelco
- Freeport-McMoRan (Climax Molybdenum)
- Grupo Mexico
- Plansee
- Rio Tinto
- Zijin Mining Group Co., Ltd.
- ABSCO Limited
- KGHM
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
*Reports Delivery Format – Market research studies from MarkNtel Advisors are offered in PDF, Excel, and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address*
Key Highlights of the Report:
- Market Performance (2024-2030)
- Strategic Recommendations
- Current, Historical and Future Market Trends
- Market Drivers and Leading Competitor
- SWOT Analysis
- Structure of the Market
- Comprehensive Mapping and Recent Advancement
Other Report:
- Automotive Navigation System Market Size & Share Analysis & Report – Growth Trends
- Pressure Infusion Bags Market Trends and Insight 2025
- Superficial Radiation Therapy Systems Market Size and Growth By 2025
- Plastic Pigment Market Size, Share, Demand and Growth | Report 2023-28
- Polycarbonate Market Size, Share Trends & Growth Analysis, 2030
About Us –
We are a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
Contact Us –
Call +1 628 895 8081, +91 120 4278433
Email: [email protected]
