Molybdenum Market Growth, COVID Impact, Trends Analysis Report Forecast to 2033

The molybdenum market size is projected to be valued at US$ 316.0 billion in 2023 and is expected to rise to US$ 500 billion by 2033. The sales of molybdenum are expected to grow at a significant CAGR of 4.7% during the forecast period.

Given its high electrical conductivity, molybdenum is increasingly being used in electronics, electrical devices, and medical equipment, which is driving growth in the global molybdenum market.

Rising adoption of molybdenum in thermal spray coatings and the aerospace and defense sector is expected to drive growth in the global molybdenum market from 2023 to 2033.

Molybdenum is also used in material processing equipment and high-temperature furnaces, which are expected to drive growth in the global molybdenum market. Molybdenum is not suitable for continuous service at temperatures above 500°C in an oxidizing atmosphere unless protected by an adequate coating, which is another factor that is expected to impede growth in the global molybdenum market over the forecast period.

The rising demand for molybdenum and its alloys in consumer devices is expected to create numerous market opportunities.

Some of the Key Players Operating in the market include:

BHP Billiton Group
Jinduicheng Molybdenum Co.
American CuMo Mining
Thompson Creek metals
Moly Metal LLP
ENF Ltd.
Compania Minera Dona Ines De Collahuasi S.C.M.
Freeport McMoran

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Manufacturers are focusing on market expansion strategy

Manufacturers are concentrating on the production and supply of molybdenum for the consumer base in order to maintain market share. Key players are increasing their market penetration by expanding their global presence. In order to penetrate and sustain in a price-sensitive market, new entrants must thoroughly research the molybdenum market.

Many industries, including oil and gas, infrastructure, energy production, and automotive, are focusing on Steel Moly alloy products for consumers, thereby sustaining market growth and creating new opportunities for new entrants.

Cadila Healthcare's (Zydus Cadila's) wholly-owned material subsidiary Zydus Animal Health and Investments (ZAHL) sold its molybdenum business for nearly INR 3,000 crore to a consortium led by Multiples Alternate Asset Management in May 2021.

Molybdenum Market by category

End-user Industry:

Oil and Gas
Chemicals and Petrochemicals
Automotive
Mechanical Engineering
Building and Construction
Power Generation
Aerospace and Defence
Electronics and Medical
Process Industry
Other Industries

Application:

Full Alloy
Stainless Steel
HSLA
Tools
Carbon
Cast Iron
Catalysts
MO Metal Alloy
Super alloy
Other Applications

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