Molybdenum Market Set for Significant Surge: Growth Forecasts 2026-2031

Dublin, Jan. 21, 2026 (GLOBE NEWSWIRE) -- The "Molybdenum - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026-2031)" has been added to ResearchAndMarkets.com's offering. The global molybdenum market is poised for significant growth, projected to escalate from 330.12 million tons in 2026 to 404.35 million tons by 2031, exhibiting a CAGR of 4.14%. Steelmaking continues to dominate the market, driven by high-strength, low-alloy (HSLA) steel applications across construction, automotive, and energy infrastructure. The demand is further amplified by increased uses in catalysts for clean fuels, emissions control, and CO? conversion. In response to China's 2025 export-control notice on critical minerals, comprehensive strategies are being adopted to counteract potential trade disruptions and price instability, urging industries to reassess sourcing, expand recycling, and innovate substitute-proof alloys. Global Molybdenum Market Trends and Insights Surge in High-Strength Low-Alloy Steel Demand The molybdenum market sees strong momentum from HSLA steel due to rapid infrastructure developments and the trend towards lighter, stronger vehicles. Adding a small percentage of molybdenum improves yield strength, low-temperature toughness, and corrosion resistance, resulting in better efficiency and longevity. The automotive industry relies on HSLA steel to reduce vehicle mass and enhance fuel and energy efficiency, while pipeline operators benefit from improved environmental resistance. As governments invest in infrastructure and renewable energy, the demand for HSLA steel is expected to rise. Increasing Renewable-Energy Installations Requiring Mo-Based Alloys Renewable energy projects, particularly wind and hydropower, are key drivers for Mo-based alloys. These materials provide superior resistance to environmental conditions like salt spray and cyclic loading. Molybdenum's inclusion enhances the durability of turbine components, converters, and other structures involved in long-term energy generation. As clean energy targets and projects multiply, this market segment's potential for growth strengthens. High Cost of Molybdenum Price fluctuations impact budget planning and may prompt the substitution of molybdenum with other materials such as tungsten or niobium. Supply constraints, especially due to Chinese export controls, create price unpredictability, affecting smaller buyers and maintaining a complex market environment. Additional Market Drivers and Restraints Increased deep-water oil and gas drilling requiring corrosion-resistant Mo alloys Adoption of high-temperature Mo components in EV power electronics Government mining regulations Segment Analysis Steel represented 70.62% of the molybdenum market in 2025, with varied applications like petroleum and chemical plants demanding superior performance from molybdenum-enhanced steel varieties. Meanwhile, chemicals, as the fastest-growing segment, utilize molybdenum in catalysts for sulfur removal and synthetic fuel production, gradually eating into the steel market share. The Molybdenum Market Report segments include End Product, Product Form, End-Use Industry, and Geography, with forecasts provided in tons. Asia-Pacific leads in throughput, growing from 2025 levels with infrastructure projects and metal fabrication. North American initiatives focus on mining self-reliance, while Europe, amid supply challenges, pushes for recycled materials. Efforts in Africa and the Middle East also feed global demand. Companies Featured in the Report Air Liquide Anglo American PLC Antamina Antofagasta PLC Centerra Gold Inc. China Molybdenum Co. Ltd. Codelco Freeport-McMoRan GRUPO MEXICO HONGDA GROUP Jiangxi Copper Corporation JINDUICHENG MOLYBDENUM CO.,LTD. KAZ Minerals KGHM Moltun International MOLYMET SA Multi Metal Development Limited Rio Tinto For more information about this report visit https://www.researchandmarkets.com/r/jkd9wu About ResearchAndMarkets.com ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.