Market overview
The global molybdenum market is worth USD 12.9 bn in 2026 and is forecast to reach USD 19.2 bn by 2036, growing at a 4.0% CAGR. China is the largest country market and Technical molybdenum oxide is the largest by product segment.
| Scope | Molybdenum produced and sold worldwide as molybdenum content in oxides, ferromolybdenum, chemicals and metal products, valued at market price. |
|---|---|
| Industry | Chemicals and Materials |
| Value 2025 | USD 12.5 bn |
| Value 2026 | USD 12.9 bn |
| Value 2036 | USD 19.2 bn |
| CAGR 2026-2036 | 4.0% |
| Volume 2026 | 305,911 tonnes |
| Volume 2036 | 390,183 tonnes |
| Average price 2026 | USD 42,290 per tonne |
| Report price | Starts from USD 1,999 |
| Published | November 2026 |
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Molybdenum market size and forecast, 2026-2036
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Year | Market value |
|---|---|
| 2026 | USD 12.9 bn |
| 2027 | USD 13.5 bn |
| 2028 | USD 14.0 bn |
| 2029 | USD 14.6 bn |
| 2030 | USD 15.1 bn |
| 2031 | USD 15.7 bn |
| 2032 | USD 16.4 bn |
| 2033 | USD 17.0 bn |
| 2034 | USD 17.7 bn |
| 2035 | USD 18.4 bn |
| 2036 | USD 19.2 bn |
Molybdenum market segmentation
By product
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Technical molybdenum oxide | 55.0% | 52.6% | USD 7.1 bn | 3.5% |
| Ferromolybdenum | 28.0% | 28.1% | USD 3.6 bn | 4.0% |
| Metal and mill products | 9.0% | 10.9% | USD 1.2 bn | 6.0% |
| Chemicals and catalysts | 8.0% | 8.4% | USD 1.0 bn | 4.5% |
By end use
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Structural and alloy steel | 35.0% | 34.4% | USD 4.5 bn | 3.8% |
| Stainless steel | 25.0% | 25.0% | USD 3.2 bn | 4.0% |
| Tool and high-speed steel | 10.0% | 9.1% | USD 1.3 bn | 3.0% |
| Chemicals and catalysts | 15.0% | 15.7% | USD 1.9 bn | 4.5% |
| Superalloys and cast iron | 10.0% | 11.0% | USD 1.3 bn | 5.0% |
| Other | 5.0% | 4.8% | USD 647 mn | 3.5% |
By source
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Primary mine output | 46.0% | 42.0% | USD 6.0 bn | 3.1% |
| Copper by-product | 44.0% | 44.0% | USD 5.7 bn | 4.0% |
| Recycled | 10.0% | 14.0% | USD 1.3 bn | 7.6% |
By downstream sector
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Oil and gas | 26.0% | 26.0% | USD 3.4 bn | 4.0% |
| Automotive and machinery | 28.0% | 26.0% | USD 3.6 bn | 3.2% |
| Power and construction | 26.0% | 28.0% | USD 3.4 bn | 4.8% |
| Aerospace and electronics | 20.0% | 20.0% | USD 2.6 bn | 4.0% |
By supply channel
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Long-term contracts | 50.0% | 48.0% | USD 6.5 bn | 3.6% |
| Spot and traders | 32.0% | 34.0% | USD 4.1 bn | 4.6% |
| Captive | 18.0% | 18.0% | USD 2.3 bn | 4.0% |
Top 25 countries for molybdenum by revenue
Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 84.0% of 2026 revenue and the 25 countries below together hold 96.2%.
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| # | Country | Value 2026 | Share 2026 | Value 2036 | CAGR 2026-36 |
|---|---|---|---|---|---|
| 1 | China | USD 6.0 bn | 46.0% | USD 9.0 bn | 4.3% |
| 2 | United States | USD 1.0 bn | 8.0% | USD 1.4 bn | 3.3% |
| 3 | Japan | USD 776 mn | 6.0% | USD 1.0 bn | 2.7% |
| 4 | Germany | USD 647 mn | 5.0% | USD 843 mn | 2.7% |
| 5 | South Korea | USD 647 mn | 5.0% | USD 938 mn | 3.8% |
| 6 | India | USD 518 mn | 4.0% | USD 958 mn | 6.3% |
| 7 | Italy | USD 388 mn | 3.0% | USD 517 mn | 2.9% |
| 8 | Russia | USD 388 mn | 3.0% | USD 536 mn | 3.3% |
| 9 | Brazil | USD 259 mn | 2.0% | USD 402 mn | 4.5% |
| 10 | United Kingdom | USD 259 mn | 2.0% | USD 345 mn | 2.9% |
| 11 | France | USD 167 mn | 1.3% | USD 253 mn | 4.2% |
| 12 | Canada | USD 158 mn | 1.2% | USD 239 mn | 4.2% |
| 13 | Chile | USD 149 mn | 1.1% | USD 226 mn | 4.3% |
| 14 | Taiwan | USD 141 mn | 1.1% | USD 213 mn | 4.2% |
| 15 | Mexico | USD 132 mn | 1.0% | USD 199 mn | 4.2% |
| 16 | Spain | USD 114 mn | 0.9% | USD 172 mn | 4.2% |
| 17 | Sweden | USD 106 mn | 0.8% | USD 159 mn | 4.1% |
| 18 | Austria | USD 97 mn | 0.8% | USD 146 mn | 4.1% |
| 19 | Turkey | USD 88 mn | 0.7% | USD 132 mn | 4.2% |
| 20 | Saudi Arabia | USD 88 mn | 0.7% | USD 153 mn | 5.7% |
| 21 | Netherlands | USD 79 mn | 0.6% | USD 121 mn | 4.3% |
| 22 | Australia | USD 70 mn | 0.5% | USD 107 mn | 4.4% |
| 23 | Thailand | USD 70 mn | 0.5% | USD 123 mn | 5.8% |
| 24 | Poland | USD 62 mn | 0.5% | USD 94 mn | 4.2% |
| 25 | Belgium | USD 53 mn | 0.4% | USD 80 mn | 4.2% |
| Rest of world | USD 497 mn | 3.8% | USD 705 mn | 3.6% |
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
Competitive landscape
Group 1: Global leaders
- Freeport-McMoRan
- Codelco
- Southern Copper
- CMOC
- Molymet
Group 2: Regional and specialist players
- Jinduicheng Molybdenum
- Antofagasta
- Sumitomo Metal Mining
- Teck Resources
- KGHM
- Anglo American
- Taseko Mines
Group 3: Emerging and niche players
- Plansee Group
- Treibacher Industrie
- H.C. Starck Solutions
- Elmet Technologies
- Global Tungsten & Powders
Research methodology
Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the molybdenum market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.
The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 4.0% is calculated from the resulting values.
The market is divided by product, by end use, by source, by downstream sector, by supply channel. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.
Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.
Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.
Frequently asked questions
How big is the molybdenum market?
The global molybdenum market is estimated at USD 12.5 bn in 2025 and USD 12.9 bn in 2026.
How fast will the molybdenum market grow?
It is forecast to reach USD 19.2 bn by 2036, a compound annual growth rate of 4.0% from 2026, an increase of USD 6.2 bn.
Which country is the largest market for molybdenum?
China is the largest market by revenue at USD 6.0 bn in 2026, 46.0% of the global total. The three largest countries together hold 60.0%.
Which country is growing fastest?
Among the ten largest markets, India is growing fastest at 6.3% a year from 2026 to 2036.
Which molybdenum segment is largest?
In the by product split, Technical molybdenum oxide is the largest segment with 55.0% of 2026 revenue.
Who are the leading molybdenum companies?
Global leaders include Freeport-McMoRan, Codelco, Southern Copper, CMOC.
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