Global Molybdenum Market 2024

Molybdenum Market Size

The global molybdenum market dropped slightly to $X in 2022, declining by -2% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the global market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Molybdenum Production

In value terms, molybdenum production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a mild slump. The growth pace was the most rapid in 2018 with an increase of 28% against the previous year. Global production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Molybdenum Exports

Exports

For the third year in a row, the global market recorded decline in overseas shipments of molybdenum, which decreased by -22.7% to X tons in 2022. Over the period under review, exports, however, enjoyed a notable expansion. The pace of growth was the most pronounced in 2015 when exports increased by 70% against the previous year. The global exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, molybdenum exports shrank to $X in 2022. In general, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 53%. Over the period under review, the global exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, China (X tons) represented the largest exporter of molybdenum, generating 43% of total exports. It was distantly followed by Russia (X tons), Germany (X tons), Austria (X tons) and Estonia (X tons), together generating a 41% share of total exports. The following exporters - Japan (X tons) and the UK (X tons) - each reached a 6.5% share of total exports.

China was also the fastest-growing in terms of the molybdenum exports, with a CAGR of +61.8% from 2012 to 2022. At the same time, Austria (+61.4%), the UK (+38.5%), Japan (+31.8%), Russia (+30.6%), Estonia (+26.4%) and Germany (+5.9%) displayed positive paces of growth. China (+43 p.p.), Russia (+15 p.p.), Germany (+12 p.p.), Austria (+7.4 p.p.), Estonia (+5.3 p.p.), Japan (+3 p.p.) and the UK (+3 p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest molybdenum supplier worldwide, comprising 47% of global exports. The second position in the ranking was taken by Germany ($X), with a 14% share of global exports. It was followed by Japan, with a 7.9% share.

In China, molybdenum exports increased at an average annual rate of +62.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (+18.9% per year) and Japan (+39.0% per year).

Export Prices by Country

In 2022, the average molybdenum export price amounted to $X per ton, growing by 15% against the previous year. Overall, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.1% 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 +42.6% against 2020 indices. The pace of growth was the most pronounced in 2018 when the average export price increased by 35% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+16.0%), while the other global leaders experienced more modest paces of growth.

Molybdenum Imports

Imports

In 2022, global imports of molybdenum reduced sharply to X tons, shrinking by -29.6% against the previous year's figure. In general, total imports indicated a noticeable expansion from 2012 to 2022: its volume 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, imports decreased by -40.8% against 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 88% against the previous year. Global imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, molybdenum imports fell to $X in 2022. Over the period under review, imports, however, posted a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of 145%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of global imports failed to regain momentum.

Imports by Country

In 2022, France (X tons), distantly followed by Germany (X tons), the United States (X tons), South Korea (X tons), the UK (X tons), Japan (X tons) and Austria (X tons) represented the key importers of molybdenum, together achieving 76% of total imports. Estonia (X tons), India (X tons), the Netherlands (X tons), Taiwan (Chinese) (X tons), Russia (X tons) and Brazil (X tons) followed a long way behind the leaders.

Imports into France increased at an average annual rate of +29.6% from 2012 to 2022. At the same time, South Korea (+42.4%), Estonia (+11.7%), Germany (+10.7%), Japan (+10.3%), Taiwan (Chinese) (+8.1%), the UK (+7.9%), the Netherlands (+4.4%) and India (+2.8%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in the world, with a CAGR of +42.4% from 2012-2022. Russia experienced a relatively flat trend pattern. By contrast, Austria (-2.1%), Brazil (-3.7%) and the United States (-8.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of France, South Korea, Germany, Estonia, Japan and the UK increased by +22, +8.7, +6.3, +4.2, +3.8 and +3.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, France ($X) constitutes the largest market for imported molybdenum worldwide, comprising 24% of global imports. The second position in the ranking was held by Germany ($X), with a 12% share of global imports. It was followed by the United States, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in France amounted to +29.8%. In the other countries, the average annual rates were as follows: Germany (+14.2% per year) and the United States (-4.2% per year).

Import Prices by Country

In 2022, the average molybdenum import price amounted to $X per ton, increasing by 29% against the previous year. Overall, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +3.2% 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 +56.2% against 2020 indices. The growth pace was the most rapid in 2014 when the average import price increased by 30% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+18.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :