Summary of the Market:
Molybdenum, a silvery-white metal with a gray cast, ranks as the 54th most abundant element in the Earth’s crust and the 25th most abundant in the oceans. Widely utilized in the oil and gas and construction industries, molybdenum also finds applications in automotive, aerospace, medical, electronics, and defense sectors. With its high melting point, low thermal expansion coefficient, and significant shape stability, molybdenum is employed as a heater in high-temperature furnaces and as electrodes.
The global molybdenum market is anticipated to grow in the forecasted period, with China emerging as the largest market. The report covers market size, share, prices, product demand, trends, and growth projections. The primary driver for increased molybdenum demand is the growth in heavy industries, particularly the automotive sector experiencing a shift toward vehicle electrification. However, the persistently high and increasing price of molybdenum poses a significant restraint to market growth.
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In 2017, China’s high molybdenum production in response to increased demand contributed to a global rise in primary output. The market segmentation is based on end products such as steel, chemicals, foundries, MO metals, and nickel alloys. End-user industries include oil and gas, chemical and petrochemical, automotive, industrial usage, building and construction, aerospace and defense, and others.
The Asia Pacific region dominates the market, a trend expected to continue. In 2017, global molybdenum exports totaled 640 million USD in revenue, with China being the largest exporter, holding a 24% share, followed by Japan at 9.9%. China also leads in molybdenum consumption, accounting for over 91 million Kgs in 2017. Engineering steels claimed the majority of molybdenum use at over 40%, while nickel alloys had the least.
Key players 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., and Freeport McMoran.
Leading players in the Molybdenum market:
- 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
Market segmentation by End products:
- Steel
- Chemicals
- Foundries
- MO metals
- Nickel alloys
Market segmentation by End User industry:
- Oil & Gas
- Chemical & Petrochemical
- Automotive
- Industrial Usage
- Building & Construction
- Aerospace & Defense
- Others
Market segmentation by Region/Country:
- North America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
- Latin America
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