Molybdenum Market to Reach $11.1 Billion by 2031, Driven by Steel and Aerospace Demand | BHP Billiton Group, American CuMo Mining, Compañía Minera Antamina S.A, Grupo México, Thompson Cek Metals, Moly metal LLP

Molybdenum Market was valued at USD 8.2 billion in 2022 and is anticipated to reach USD 11.1 billion by 2031, registering a CAGR of 4.0% over the forecast period 2024-2031.

The Molybdenum Market report by DataM Intelligence provides comprehensive insights and analysis on key market trends, growth opportunities, and emerging challenges. With a commitment to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. By combining qualitative and quantitative research methodologies, the firm delivers in-depth reports that help clients navigate complex market dynamics, drive strategic growth, and seize new opportunities in an ever-evolving global landscape.

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✅ USA: Latest Developments

Production Expansion (June 2025)
A major American mining company completed a USD 120 million expansion of a molybdenum processing plant aimed at boosting production efficiency.

New Superalloy Launch (May 2025)
An aerospace alloys manufacturer introduced a molybdenum-based superalloy designed to improve jet engine fuel efficiency by up to 8%.

Note on Trade Dynamics
While not specific to the U.S., China's February 2025 export control on certain molybdenum powders especially those used in missile parts could indirectly affect U.S. access to materials.

✅ Japan: Latest Developments

High-Strength Stainless Steel (July 2025)
A Japanese steel company launched a new molybdenum-enriched stainless steel tailored for use in electric vehicle battery enclosures, offering enhanced strength and durability.

Semiconductor Heat Sink (May 2025)
A Japanese electronics firm unveiled a next-generation semiconductor heat sink made from ultra-pure molybdenum to improve thermal performance in devices.

China Export Controls
As noted above, China's restrictions significantly impact Japan, which historically received about half of certain molybdenum powder exports meant for missile manufacturing.

✅ South Korea: Latest Developments

World's Largest Molybdenum Plant Commissioned (July 2025)
Air Liquide has successfully commissioned the world's largest molybdenum manufacturing plant in Hwaseong, Gyeonggi Province. This state-of-the-art facility will supply SubleemTM, an ultra-high purity form of solid molybdenum, to major semiconductor manufacturers.

The plant is positioned to play a key role in South Korea's semiconductor supply chain and is part of a broader expansion that includes future plants in the U.S.

Offtake Agreement (Jan 2025)
Almonty Industries signed an exclusive offtake agreement with SeAH Group, South Korea's largest molybdenum processor (and a major SpaceX contractor), covering 100% of production from the Sangdong Molybdenum Project over its 60-year expected life.

Sangdong Mine (2025)
The Sangdong mine historically a tungsten producer with molybdenum as a byproduct is preparing to reopen in 2025. Its revitalized processing plant is expected to produce significant tungsten concentrate, with molybdenum as a byproduct.

Key Market Drivers:

✅ Rising Demand in Steel Industry

More than 80% of molybdenum consumption is linked to steel production, where it enhances strength, corrosion resistance, and high-temperature performance. Expanding construction and automotive activities continue to fuel this demand.

✅ Growth in Energy Sector

Molybdenum is essential in oil & gas refining, pipelines, and power generation due to its resistance to harsh environments. Growing investments in energy infrastructure and renewable projects are strengthening market growth.

✅ Aerospace and Defense Applications

High-performance alloys containing molybdenum are critical in jet engines, missiles, and defense equipment. Rising defense budgets and aerospace innovations are adding momentum to market expansion.

✅ Technological Advancements and Material Innovation

Increasing use of molybdenum in electronics, catalysts, lubricants, and medical applications is opening new avenues. Research in advanced alloys and superalloys further enhances its market prospects.

✅ Sustainable Mining and Recycling Trends

Global focus on sustainability is encouraging recycling of molybdenum-bearing waste and promoting eco-friendly mining practices. This supports supply security while reducing environmental impact.

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Molybdenum Market - Geographical Share:

The molybdenum market is globally diversified, with demand concentrated across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

➠ Asia-Pacific holds the dominant share, driven by rapid industrialization, strong steel production, and infrastructure development in China, India, and South Korea. China is the largest consumer due to its extensive use of molybdenum in stainless steel, automotive, and construction industries.

➠ North America represents a significant share, supported by aerospace, oil & gas exploration, and energy infrastructure projects. The United States remains a major producer and exporter, benefiting from established mining operations and advanced technological applications.

➠ Europe shows steady growth, mainly due to the automotive, defense, and renewable energy sectors, particularly in Germany, France, and the UK. Strict environmental regulations also boost the adoption of high-performance alloys with molybdenum.

➠ Latin America is emerging as a key region, especially Chile, which is among the largest global producers of molybdenum as a byproduct of copper mining. Rising exports from this region strengthen its role in the global supply chain.

➠ Middle East & Africa are witnessing gradual growth, supported by oil & gas investments, construction activities, and increased demand for durable steel grades in infrastructure projects.

Strategic Players Driving the Molybdenum Market: BHP Billiton Group, Jinduicheng Molybdenum Co. Ltd., American CuMo Mining, Compañía Minera Antamina S.A, S.A.B. de C.V, Grupo México, Thompson Cek Metals, Moly metal LLP, ENF Ltd. and Compania Minera Dona Ines De Collahuasi S.C.M.

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Research Methodology:

The global Molybdenum Market research report employs a comprehensive dual-source approach, integrating both primary and secondary data collection methods to ensure robust market analysis. Our research framework systematically evaluates multiple industry-influencing variables, including regulatory frameworks and government policies, prevailing market conditions, competitive intensity levels, historical performance data, current market positioning, technological innovations and disruptions, emerging industry developments, cross-sector business impacts, market volatility patterns, growth prospects, potential market barriers, and strategic challenges facing industry participants.

Segment Covered in the Molybdenum Market:

By End Products (Steel, Chemicals, Foundries, MO-Metals, Nickel Alloys)

By End-User Industry (Oil & Gas, Chemical and Petrochemical, Automotive, Industrial Usage, Building & Construction, Aerospace & Defense, Others)

By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

Regional Analysis for Molybdenum Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Most Frequently Asked Questions in the Molybdenum Market Research Industry:

➠ Who leads the Molybdenum industry and what's their competitive positioning regarding capacity, performance, and profitability?

➠ What growth opportunities and market challenges do Molybdenum market vendors face?

➠ Which segments show the highest growth potential and market share distribution?

➠ What factors are driving or limiting Molybdenum market growth?

➠ What are the dominant sales and distribution strategies in the Molybdenum industry?

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