Molybdenum Market Size Will Attain USD 6.29 Billion by 2034 Growing at 4% CAGR - Exclusive Report by Zion Market Research

The global molybdenum market size is projected to reach USD 6.29 billion by 2034 from its value of USD 4.60 billion in 2024, at a CAGR of 4% during the forecast period.

NEW YORK, USA, Sept. 01, 2025 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Molybdenum Market By End Product (Steel, Chemical, Foundry, Molybdenum Metal, Nickel Alloys), By Product Form (Molybdenum Concentrates, Roasted Molybdenum [Technical Oxide], Ferromolybdenum, Molybdenum Metal Powder, Molybdenum Chemicals), By End-User Industry (Oil and Gas, Chemical and Petrochemical, Automotive, Industrial, Building and Construction, Aerospace and Defense, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2025 - 2034” in its research database.

“According to the latest research study, the global molybdenum market size was valued at around USD 4.60 billion in 2024. The market is expected to grow at a CAGR of 4% and is anticipated to reach a value of USD 6.29 billion by 2034.”

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Molybdenum Market Overview:

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 likely to expand rapidly, driven by the growth of power and energy infrastructure, adoption in renewable energy technologies, and increasing demand for chemical catalysts. High-performing molybdenum alloys hold applications in offshore drilling equipment, turbines, and pipelines. As global investments in power infrastructure and oil & gas rise, mainly in the Middle East, China, and India, molybdenum demand witnesses notable growth.

Report Scope:

Report Attribute	Report Details
Market Size in 2024	USD 4.60 Billion
Market Forecast in 2034	USD 6.29 Billion
Growth Rate	CAGR of 4%
Base Year	2024
Forecast Years	2025- 2034
Key Companies Covered	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., BHP Group Limited, and others.
Segments Covered	By End Product, By Product Form, By End-User Industry, and By Region
Regions Covered	North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
Customization Scope	Avail customized purchase options to meet your exact research needs.

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Key Insights from Primary Research

As per the analysis, the molybdenum market share is likely to grow at a CAGR of around 4% between 2025 and 2034.
The molybdenum market size was worth around $4.60 billion in 2024 and is estimated to hit approximately $6.29 billion by 2034. Due to a variety of driving factors, the market is predicted to rise at a significant rate.

Based on the end product, the steel segment is expected to lead the market, while the chemical segment is expected to grow considerably.
Based on product form, the ferromolybdenum segment is the dominating segment, while the roasted molybdenum (technical oxide) segment is projected to witness sizeable revenue over the forecast period.
Based on end-user industry, the oil and gas segment is expected to lead the market compared to the building and construction segment.
Based on region, the Asia Pacific is projected to dominate the global market during the estimated period, followed by North America.

Molybdenum Market: Growth Drivers

Industrial & infrastructure upgrades in India and emerging Asia

Manufacturing and speedy urbanization in ASEAN/India are boosting alloy steel intensity in metro/rail, chemical parks, bridges, food-pharma plants, and refineries. Where uptime and life-cycle cost matter, owners are switching to 316/duplex from 304 and to low-alloy Mo steels from carbon steel to reduce corrosion downtime, mainly in high-chloride water systems and industrial/coastal atmospheres.

Price & supply dynamics are considerably fueling the market

A majority of molybdenum comes as a by-product of copper mining, which makes the supply sensitive to copper grades/throughput and inelastic to Mo-price. When copper mines reduce output or experience grade declines, Mo supply tightens; however, higher throughput or new copper projects may loosen the molybdenum market. These periods have generated multi-year Mo spikes, which strengthen substitution towards Mo in crucial service and simulate mine-capacity investments.

Browse the full “Molybdenum Market By End Product (Steel, Chemical, Foundry, Molybdenum Metal, Nickel Alloys), By Product Form (Molybdenum Concentrates, Roasted Molybdenum [Technical Oxide], Ferromolybdenum, Molybdenum Metal Powder, Molybdenum Chemicals), By End-User Industry (Oil and Gas, Chemical and Petrochemical, Automotive, Industrial, Building and Construction, Aerospace and Defense, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2025 - 2034” Report at https://www.zionmarketresearch.com/report/molybdenum-market

Molybdenum Market: Segmentation

The global molybdenum market is segmented based on end product, product form, end-user industry, and region.

Based on end product, the global molybdenum industry is split into steel, chemical, foundry, molybdenum metal, and nickel alloys. The steel segment registers more than 60% of global molybdenum production. The metal is largely used in structural steel, stainless steel, and tool steels, where it improves weldability, tensile strength, and corrosion resistance.

Based on product form, the global molybdenum market is divided into molybdenum concentrates, roasted molybdenum (technical oxide), ferromolybdenum, molybdenum metal powder, and molybdenum chemicals. The ferromolybdenum holds the largest market share in 2024 and is expected to grow at a significant rate over the forecast period. It is the highly preferred product form because it is the main additive in steelmaking, particularly in alloy and stainless steels.

Based on end-user industry, the global market is separated into oil and gas, chemical and petrochemical, automotive, industrial, building and construction, aerospace and defense, and others. The oil & gas is the dominating segment, capturing the highest share of molybdenum.

Why does Asia Pacific outperform other regions in the global molybdenum market?

Asia Pacific is anticipated to retain its leading role in the global molybdenum market as a result of a strong steel production base, construction growth, speedy urbanization, and expanding energy and oil & gas infrastructure. Asia Pacific holds leadership in the global market because of its massive steelmaking sector, since molybdenum is a primary alloying material in structural and stainless steels.

In 2023, China alone generated more than 1.02 billion metric tons of crude steel, accounting for approximately 54% of the worldwide output, which fuels primary molybdenum consumption. This makes the region the leading consumer of ferromolybdenum used in automotive, construction, and industrial sectors.

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Molybdenum Market: Competitive Landscape

The report contains qualitative and quantitative research on the global molybdenum market, as well as detailed insights and development strategies employed by the leading competitors.

Some of the main players 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.
BHP Group Limited

The global molybdenum market is segmented as follows:

By End Product

Steel
Chemical
Foundry
Molybdenum Metal
Nickel Alloys

By Product Form

Molybdenum Concentrates
Roasted Molybdenum (Technical Oxide)
Ferromolybdenum
Molybdenum Metal Powder
Molybdenum Chemicals

By End-User Industry

Oil and Gas
Chemical and Petrochemical
Automotive
Industrial
Building and Construction
Aerospace and Defense
Others

By Region

North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America

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Key Questions Answered in This Report:

What is molybdenum?
Which key factors will influence the molybdenum market growth over 2025-2034?
What will be the value of the molybdenum market during 2025-2034?
What will be the CAGR value of the molybdenum market during 2025-2034?
Which region will contribute notably towards the molybdenum market value?
Which are the major players leveraging the molybdenum market growth?
What can be expected from the global molybdenum market report?

Key Offerings:

Full in-depth analysis of the parent market
Important changes in market dynamics
Segmentation details of the market
Previous, ongoing, and projected market analysis in terms of volume and value
Assessment of niche industry developments
Market share analysis
Key strategies of major players
Emerging segments and regional markets
Testimonials to companies in order to fortify their foothold in the market

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