Global Molybdenum Market By Application Overview
Introduction:
Molybdenum Market was valued at US$ 360.6 Billion in 2024 and is projected to grow at a CAGR of 5.20% to reach US$ 571.2 Billion by 2034.
Molybdenum is a type of lightweight metal commonly found in silvery-white color. Molybdenum is widely used as an alloying agent in manufacturing of tempered steel. Properties such as high electrical conductivity and good resistance against corrosion, coupled with lower degree of thermal expansion make molybdenum an essential ingredient, in improving overall strength of steel. Molybdenum doesn't occur naturally as a free metal on Earth; it's found only in various oxidation states in minerals. The free element, a silvery metal with a gray cast, has the sixth-highest freezing point of any element. It readily forms hard, stable carbides in alloys, and for this reason most of the planet production of the element (about 80%) is employed in steel alloys, including high-strength alloys and superalloys. Most molybdenum compounds have low solubility in water, but when molybdenum-bearing minerals contact oxygen and water, the resulting molybdate ion MoO2−4 is sort of soluble. Industrially, molybdenum compounds (about 14% of world production of the element) are utilized in high-pressure and high-temperature applications as pigments and catalysts. Molybdenum-bearing enzymes are far and away the foremost common bacterial catalysts for breaking the bond in atmospheric molecular nitrogen within the process of biological organic process. A minimum of 50 molybdenum enzymes are now known in bacteria, plants, and animals, although only bacterial and cyanobacterial enzymes are involved in organic process. These nitrogenases contain an iron-molybdenum cofactor FeMoco, which is believed to contain either Mo (III) or Mo (IV). This is often distinct from the fully oxidized Mo (VI) found complexed with molybdopterin altogether other molybdenum-bearing enzymes, which perform a spread of crucial functions. The variability of crucial reactions catalyzed by these latter enzymes means molybdenum is an important element for all higher eukaryote organisms, including humans.
Global Molybdenum Market By Application Dynamics
High adoption of molybdenum
High adoption of molybdenum in various end-use industries, especially electronics, pharmaceutical, and aerospace & defense industries is a major factor driving growth of the market currently.
High cost associated with use of molybdenum
However, high costs associated with use of molybdenum and problems with use of molybdenum at high temperatures are major factors hampering growth of the global market.
Global Molybdenum Market By Application Segmentation
The molybdenum market has been segmented on the basis of application, end user, and region. The application segment includes full alloy, stainless steel, cast iron, and catalysis. Further the global market is segmented by end user, which include soil & gas, automotive, aerospace and defense, and electronics and medical.
Regional Insights
For detailed understanding of market dynamics, on the basis of region, the target market has been segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The market in Asia Pacific is expected to account for major revenue share as compared to that of other regions. This can be attributed to high adoption of molybdenum in various end use industries in countries in the region. Also, the market in North America is expected to account for second-highest revenue share in the global market, followed by the market in Europe. Moreover, the market in North America is projected to witness significant growth over the forecast period. This is due to growing demand for molybdenum from aerospace industries in countries in the region.
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Attribute |
Details |
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Base year for estimation |
2023 |
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Forecast period |
2024– 2034 |
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Market representation |
Revenue in USD Million & CAGR from 2024 – 2034 |
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Market Segmentation |
By Application- Full Alloy, Stainless Steel, Cast Iron, and Catalysis By End-User- Oil & Gas, Automotive, Aerospace and Defense, and Electronics and Medical |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Detailed Segmentation:
Molybdenum Market, By Region:
- North America
- Middle East & Africa
- Middle East & Africa Global Molybdenum Market, By Application
- Middle East & Africa Global Molybdenum Market, By End-User
- Middle East & Africa Global Molybdenum Market, By Country
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Latin America Global Molybdenum Market, By Application
- Latin America Global Molybdenum Market, By End-User
- Latin America Global Molybdenum Market, By Country
- Brazil
- Mexico
- Rest of Latin America
- Asia Pacific
- Asia Pacific Global Molybdenum Market, By Application
- Asia Pacific Global Molybdenum Market, By End-user
- Asia Pacific Global Molybdenum Market, By Country
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Europe
- Europe Global Molybdenum Market, By Application
- Europe Global Molybdenum Market, By End-User
- Europe Global Molybdenum Market, By Country
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- North America Global Molybdenum Market, By Application
- North America Global Molybdenum Market, By End-User
- North America Global Molybdenum Market, By Country
- Canada
- Middle East & Africa
Global Molybdenum Market By Application Key Players
Advancements in the product as well as in manufacturing process, product launches, and strategic partnerships are some trends witnessed in the Molybdenum Market. The key players operating in the global molybdenum market include, Freeport-McMoRan Inc., China Molybdenum Co., Ltd., Luoyang Hi-Tech Metals Co., Antofagasta PLC, Jinduicheng Molybdenum Co., Ltd., Thompson Creek Metals Company Inc., Codelco Inc., Southern Copper Corporation, Rio Tinto Group, and Teck Resources Limited. Technological advancements in the manufacturing process, coupled with increase in the production capacity are some trends witnessed in the Global Molybdenum Market.
Global Molybdenum Market By Application Table of Contents
Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
Market Preview
- Executive Summary
- Key Findings—Global Outlook for medical carts Strategies
- Key Questions this Study will Answer
- Market Snippet, By Application
- Market Snippet, By End User
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restrains
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
Molybdenum Market, By Application, Forecast Period up to 10 Years, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Segment Trends
- Full Alloy
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Stainless Steel
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Cast Iron
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Catalysis
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
Molybdenum Market, By End User, Forecast Period up to 10 Years, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Segment Trends
- Oil & Gas
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Automotive
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Aerospace and Defense
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Electronics and Medical
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
Molybdenum Market, By Region, Forecast Period up to 10 Years, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Regional Trends
- North America
- Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By End User, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By End User, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By End User, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By End User, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By End User, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- GCC
- Israel
- South Africa
- Rest of Middle East
Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
Company Profiles
- Freeport-McMoRan Inc
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- China Molybdenum Co., Ltd
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Luoyang Hi-Tech Metals Co.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Antofagasta PLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Jinduicheng Molybdenum Co., Ltd
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Thompson Creek Metals Company Inc
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Codelco Inc
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Southern Copper Corporation.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Rio Tinto Group
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Teck Resources Limited.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
The Last Word
- Future Impact
- About Us
- Contact
FAQs
The global molybdenum market has been segmented on the basis of application, end-user, and region.
High adoption of molybdenum in various end-use industries, especially electronics, pharmaceutical, and aerospace & defense industries is a major factor driving the growth of the global market currently.
The market in the Asia Pacific is expected to account for major revenue share as compared to that of other regions. This can be attributed to the high adoption of molybdenum in various end-use industries in countries in the region
Key players are focused on the production and supply of molybdenum for the consumer base to maintain the market share. Manufacturers are growing penetration in the market by increasing their global presence. Many industries such as Oil & Gas, Energy production, Infrastructure, and Automotive, etc. are directing towards Steel Moly alloy products for the consumers help in prevailing the growth of the market and creating new opportunities for new entrants.