ASEAN: Molybdenum Market 2024

Molybdenum Market Size in ASEAN

In 2022, the ASEAN molybdenum market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Molybdenum Production in ASEAN

In value terms, molybdenum production shrank slightly to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 13%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Molybdenum Exports

Exports in ASEAN

In 2022, shipments abroad of molybdenum decreased by -92.1% to X kg for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 105,761%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, molybdenum exports contracted markedly to $X in 2022. Over the period under review, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 5,434% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Malaysia represented the main exporting country with an export of about X kg, which accounted for 72% of total exports. It was distantly followed by Singapore (X kg), creating a 28% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to molybdenum exports from Malaysia stood at +7.6%. At the same time, Singapore (+45.6%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +45.6% from 2012-2022. Singapore (+28 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia saw its share reduced by -28.2% from 2012 to 2022, respectively.

In value terms, Singapore ($X) remains the largest molybdenum supplier in ASEAN, comprising 78% of total exports. The second position in the ranking was held by Malaysia ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Singapore totaled +53.7%.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, surging by 58% against the previous year. In general, the export price, however, showed a pronounced contraction. The pace of growth was the most pronounced in 2018 when the export price increased by 1,043% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+5.6%).

Molybdenum Imports

Imports in ASEAN

In 2022, approx. X tons of molybdenum were imported in ASEAN; declining by -78.5% against the previous year's figure. In general, imports saw a deep downturn. The pace of growth appeared the most rapid in 2017 with an increase of 155%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, molybdenum imports contracted rapidly to $X in 2022. Over the period under review, imports continue to indicate a deep reduction. The growth pace was the most rapid in 2018 when imports increased by 102%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Malaysia represented the major importing country with an import of around X tons, which amounted to 58% of total imports. It was distantly followed by Thailand (X kg), Vietnam (X kg) and the Philippines (X kg), together comprising a 38% share of total imports. The following importers - Indonesia (X kg) and Singapore (X kg) - each accounted for a 4% share of total imports.

Imports into Malaysia decreased at an average annual rate of -13.9% from 2012 to 2022. At the same time, Thailand (+4.7%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +4.7% from 2012-2022. By contrast, Vietnam (-2.0%), Singapore (-8.8%), Indonesia (-17.6%) and the Philippines (-26.0%) illustrated a downward trend over the same period. While the share of Thailand (+16 p.p.) and Vietnam (+9.2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the Philippines (-24.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest molybdenum importing markets in ASEAN were Thailand ($X), the Philippines ($X) and Malaysia ($X), together accounting for 83% of total imports.

Thailand, with a CAGR of +2.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, with an increase of 39% against the previous year. Over the period under review, the import price showed a perceptible expansion. The pace of growth appeared the most rapid in 2014 when the import price increased by 111%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Philippines ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+22.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform