According to a new report by UnivDatos Market Insights, The Molybdenum Market is expected to reach USD million in 2033 by growing at a CAGR of 4% during the forecast period (2025-2033F). The global molybdenum market is experiencing notable growth with the rising demand from industries such as automotive, aerospace, defense, steel production, renewable energy, etc. With industries working on cleaner energy solutions, stronger and durable infrastructure, molybdenum is regaining prominence due to its high strength, resistance to heat, and anti-corrosive attributes. It is found in many applications, including high-performance steel and super alloys, colloidal semiconductors, solar panels, and wind turbines. Parallel to this, the supply and production of molybdenum are getting transformed by the worldwide sustainability movement and the disaggregation of supply chains.

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Segments that transform the industry

• The market has been segmented on the basis of end products, such as steel, chemical products, foundry, molybdenum metal, and nickel alloy. Among those, steel has enjoyed a fair share in the market as it is used in numerous areas like construction, automotive, energy, and manufacturing. Molybdenum is an important alloying agent that improves the strength, corrosion resistance, and high-temperature stability of steel and cannot be spared in the production of high-strength low-alloy (HSLA) steels as well as stainless steels. With the continued buildup of infrastructure and industrialization in emerging economies (particularly in Asia-Pacific and the Middle East) the future demand of molybdenum in terms of steel applications is likely to be stable and it seems that molybdenum will continue being in demand in the coming years with government support and the investment on the part of the private sector.

According to the report, Steel & Alloy Production has been identified as a key driver for market growth. Some of how this impact has been felt include:

Steel and alloy production worldwide has experienced significant growth. As steel and metal alloys fulfil the needs of the vast majority of infrastructure, goods, automotive parts, aerospace, and defense, basically acting as one of the backbones of modern engineering, the usage of molybdenum in the respective categories has noticeably grown. Molybdenum is mixed in steel and alloys to provide them with rust-proof functionality. Recently, many companies have announced their plans to expand their steel and alloy production capacity. For instance,

• In 2025, Jindal India Limited received approval from the state of Odisha (India) to build a new steel plant in Dhenkanal with a total cost of USD 420.2 million.
• In 2025, ArcelorMittal announced plans to build a new non-grain-oriented electrical steel (NOES) production facility in Alabama with a capacity of 150,000 tons.

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Considering the shifts, the demand for steel is further anticipated to rise, attributed to the higher demand for molybdenum in the coming years. Additionally, the automotive industry is also on the boom, one of the major contributors to the alloy requirement, which would further push the increasing demand for molybdenum across the globe.

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