Northern America: Molybdenum Market 2024

Molybdenum Market Size in Northern America

The North American molybdenum market dropped to $X in 2022, falling by -6.2% against the previous year. In general, consumption continues to indicate a pronounced shrinkage. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Molybdenum Production in Northern America

In value terms, molybdenum production fell to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a mild curtailment. The growth pace was the most rapid in 2019 when the production volume increased by 55%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Molybdenum Exports

Exports in Northern America

In 2022, molybdenum exports in Northern America fell rapidly to X tons, waning by -74.8% against 2021. Overall, exports continue to indicate a dramatic downturn. The pace of growth was the most pronounced in 2017 with an increase of 36%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, molybdenum exports fell remarkably to $X in 2022. Over the period under review, exports recorded a precipitous descent. The pace of growth appeared the most rapid in 2021 when exports increased by 35%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States was the main exporting country with an export of about X tons, which reached 66% of total exports. It was distantly followed by Canada (X tons), committing a 34% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the United States (with a CAGR of -22.9%).

In value terms, the largest molybdenum supplying countries in Northern America were the United States ($X) and Canada ($X).

In terms of the main exporting countries, the United States, with a CAGR of -22.5%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, surging by 21% against the previous year. Export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, molybdenum export price increased by +55.0% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 29%. Over the period under review, the export prices hit record highs in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+3.4%).

Molybdenum Imports

Imports in Northern America

In 2022, approx. X tons of molybdenum were imported in Northern America; dropping by -21.9% against 2021. Overall, imports continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2014 when imports increased by 48% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, molybdenum imports reached $X in 2022. In general, imports continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 46% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The United States prevails in imports structure, amounting to X tons, which was near 97% of total imports in 2022. Canada (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to molybdenum imports into the United States stood at -8.2%. Canada experienced a relatively flat trend pattern. Canada (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while the United States saw its share reduced by -1.8% from 2012 to 2022, respectively.

In value terms, the United States ($X) constitutes the largest market for imported molybdenum in Northern America, comprising 98% of total imports. The second position in the ranking was taken by Canada ($X), with a 2.3% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the United States totaled -4.2%.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, jumping by 28% against the previous year. Import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, molybdenum import price increased by +56.7% against 2020 indices. The pace of growth was the most pronounced in 2018 an increase of 38% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.3%).

Source: IndexBox Platform

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