Ferro-Molybdenum Market

The article analyzes the global ferro-molybdenum market, forecasting a steady increase in consumption, production, imports, and exports over the next decade. Key insights include a detailed breakdown of major players, growth rates, and country-specific trends. With a focus on market performance, the data provides a comprehensive overview of the industry's trajectory and anticipated growth.

Market Forecast

Driven by increasing demand for ferro-molybdenum worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.8% for the period from 2022 to 2030, which is projected to bring the market volume to 349K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.2% for the period from 2022 to 2030, which is projected to bring the market value to $9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Ferro-Molybdenum

In 2022, the amount of ferro-molybdenum consumed worldwide rose modestly to 280K tons, growing by 4.1% on the previous year's figure. The total consumption volume increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of 7.5% against the previous year. Over the period under review, global consumption hit record highs in 2022 and is likely to see gradual growth in the near future.

The global ferro-molybdenum market revenue expanded rapidly to $6B in 2022, increasing by 5.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Consumption By Country

The country with the largest volume of ferro-molybdenum consumption was China (149K tons), accounting for 53% of total volume. Moreover, ferro-molybdenum consumption in China exceeded the figures recorded by the second-largest consumer, the Netherlands (16K tons), ninefold. Indonesia (11K tons) ranked third in terms of total consumption with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume in China stood at +3.1%. The remaining consuming countries recorded the following average annual rates of consumption growth: the Netherlands (+27.9% per year) and Indonesia (+45.7% per year).

In value terms, China ($2.9B) led the market, alone. The second position in the ranking was taken by the Netherlands ($423M). It was followed by Indonesia.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +1.8%. In the other countries, the average annual rates were as follows: the Netherlands (+30.1% per year) and Indonesia (+48.7% per year).

The countries with the highest levels of ferro-molybdenum per capita consumption in 2022 were the Netherlands (925 kg per 1000 persons), Austria (627 kg per 1000 persons) and Belgium (568 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +50.6%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Ferro-Molybdenum

In 2022, after six years of growth, there was decline in production of ferro-molybdenum, when its volume decreased by -1% to 276K tons. The total output volume increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 5.5% against the previous year. Global production peaked at 279K tons in 2021, and then declined in the following year.

In value terms, ferro-molybdenum production fell markedly to $5.1B in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 50% against the previous year. As a result, production attained the peak level of $6.1B, and then plummeted in the following year.

Production By Country

The country with the largest volume of ferro-molybdenum production was China (160K tons), comprising approx. 58% of total volume. Moreover, ferro-molybdenum production in China exceeded the figures recorded by the second-largest producer, South Korea (25K tons), sevenfold. Belgium (20K tons) ranked third in terms of total production with a 7.3% share.

From 2012 to 2022, the average annual growth rate of volume in China amounted to +3.8%. The remaining producing countries recorded the following average annual rates of production growth: South Korea (+0.3% per year) and Belgium (+0.4% per year).

Imports

World Imports of Ferro-Molybdenum

After two years of growth, overseas purchases of ferro-molybdenum decreased by -1.7% to 117K tons in 2022. In general, total imports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +41.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 40%. As a result, imports attained the peak of 119K tons, and then shrank modestly in the following year.

In value terms, ferro-molybdenum imports soared to $3.2B in 2022. Overall, imports, however, showed prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 117% against the previous year. Over the period under review, global imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports By Country

In 2022, the Netherlands (29K tons), distantly followed by Germany (13K tons), Indonesia (11K tons), the United States (11K tons), Italy (7.7K tons) and Sweden (5.6K tons) represented the major importers of ferro-molybdenum, together committing 66% of total imports. India (4.2K tons), Belgium (3.7K tons), Taiwan (Chinese) (3.3K tons), Spain (3.1K tons), China (2.7K tons), France (2.5K tons) and South Korea (2K tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to ferro-molybdenum imports into the Netherlands stood at +21.6%. At the same time, Indonesia (+45.7%), China (+24.6%), South Korea (+18.3%), India (+17.6%), the United States (+5.1%), Taiwan (Chinese) (+3.2%) and Sweden (+1.3%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in the world, with a CAGR of +45.7% from 2012-2022. Belgium experienced a relatively flat trend pattern. By contrast, Italy (-2.0%), Germany (-3.0%), France (-5.5%) and Spain (-6.5%) illustrated a downward trend over the same period. The Netherlands (+20 p.p.), Indonesia (+9.2 p.p.), India (+2.6 p.p.), China (+2 p.p.) and the United States (+1.8 p.p.) significantly strengthened its position in terms of the global imports, while France, Italy, Spain and Germany saw its share reduced by -2.9%, -4.1%, -4.2% and -8.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($820M) constitutes the largest market for imported ferro-molybdenum worldwide, comprising 25% of global imports. The second position in the ranking was held by Germany ($355M), with an 11% share of global imports. It was followed by the United States, with a 9.6% share.

In the Netherlands, ferro-molybdenum imports expanded at an average annual rate of +25.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Germany (-0.0% per year) and the United States (+8.4% per year).

Import Prices By Country

In 2022, the average ferro-molybdenum import price amounted to $27,813 per ton, surging by 28% against the previous year. Over the period under review, the import price recorded noticeable growth. The pace of growth appeared the most rapid in 2021 an increase of 55%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in India ($32,082 per ton) and Spain ($30,336 per ton), while Belgium ($23,679 per ton) and South Korea ($24,744 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+9.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Ferro-Molybdenum

After two years of growth, shipments abroad of ferro-molybdenum decreased by -12.3% to 112K tons in 2022. Over the period under review, total exports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +22.2% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 43%. As a result, the exports attained the peak of 128K tons, and then declined in the following year.

In value terms, ferro-molybdenum exports expanded markedly to $3.1B in 2022. Overall, exports, however, recorded perceptible growth. The most prominent rate of growth was recorded in 2021 when exports increased by 131% against the previous year. The global exports peaked in 2022 and are likely to see steady growth in the near future.

Exports By Country

The biggest shipments were from South Korea (23K tons), the Netherlands (19K tons), Belgium (17K tons), China (13K tons), the UK (9.9K tons), Chile (9.8K tons) and Armenia (8.9K tons), together amounting to 90% of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by China (with a CAGR of +51.2%), while the other global leaders experienced more modest paces of growth.

In value terms, South Korea ($643M), the Netherlands ($534M) and Belgium ($427M) constituted the countries with the highest levels of exports in 2022, together comprising 52% of global exports. China, the UK, Chile and Armenia lagged somewhat behind, together accounting for a further 39%.

Among the main exporting countries, China, with a CAGR of +51.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average ferro-molybdenum export price stood at $27,184 per ton in 2022, increasing by 22% against the previous year. Overall, the export price saw perceptible growth. The pace of growth appeared the most rapid in 2021 when the average export price increased by 61%. The global export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in the UK ($29,671 per ton) and Chile ($28,999 per ton), while Belgium ($24,771 per ton) and China ($25,961 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Armenia (+4.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform