LATIN AMERICA MOLYBDENUM MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2025 - 2032)

Latin America Molybdenum Market Size and Forecast – 2025-2032  

The Latin America Molybdenum Market is estimated to be valued at USD 698.3 Mn in 2025 and is expected to reach USD 973.3 Mn by 2032, exhibiting a compound annual growth rate (CAGR) of 4.9% from 2025 to 2032.

Key Takeaways of the Latin America Molybdenum Market

• The molybdenum metal segment is expected to dominate the Latin America molybdenum market in 2025, capturing 65.9% share.
• The technical grade segment is projected to account for 54.4% of the market share in 2025.
• The construction segment is expected to capture 37.2% share of the Latin America molybdenum market in 2025.

Market Overview

The current tendencies in the market show an increased interest in eco-friendly and high-performance materials, which places molybdenum as an essential factor since it is durable and resistant to heat. The development of technologies in the alloy steel compositions to enhance efficiency in energy and manufacturing industries is underway, increasing the use of molybdenum. Moreover, the regulated adoption of cleaner technologies is promoting the application of molybdenum in catalytic converters and renewable energy, which serves to strengthen the key role played by molybdenum in the industrial development of Latin Americas and the market expansion.

Current Events and Its Impact

Uncover macros and micros vetted on 75+ parameters: Get instant access to report

Segmental Insights

To learn more about this report, Download Free Sample

Latin America Molybdenum Market Insights, By Product Type - Molybdenum Metal Segment Dominates the Market Owing to Its Versatility and Critical Role in Industrial Applications

Molybdenum metal segment is expected to hold 65.9% share of the Latin America molybdenum market in 2025, due to its extensive applicability across various heavy industries. Its exceptional mix of high melting temperature, high strength levels at high temperature and anti-corrosion properties render it indispensable particularly in steel and alloy production. The main application of molybdenum metal is to increase the strength, hardness, and longevity of steel which are necessary in construction, auto, and energy industries that are common in Latin America. Direct cause of the molybdenum metal consumption is the increasing demand of the steel products in the infrastructure and industrial machinery that require stronger and more durable steel products.

Moreover, the capacity of molybdenum metals to enhance the mechanical characteristics of the superalloys is critical in the manufacturing of aerospace and defense. The countries of Latin America are concentrating more on modernization of their industrial and military power, and hence the increased demand of molybdenum metal in these areas. The metals are also important to industry because of its excellent thermal and electrical conductivity characteristics, which also make it important in wiring and the production of electrical contacts and filaments which further expand its industrial usage.

Latin America Molybdenum Market Insights, By Purity Grade - Technical Grade Segment Dominates the Market due to Its Broad Industrial Applicability and Cost-Efficiency

Technical grade segment is projected to hold 54.4% share of the market in 2025. Technical grade molybdenum, characterized by purity levels, is suitable for most conventional industrial applications. This grade is critical for sectors that require reliable performance without the elevated costs associated with high or ultra-high purity grades.

It is a grade that is critical in industries where high or ultra-high purity grades are unnecessary and expensive. Technical grade molybdenum is important in the construction and automotive industry as it satisfies both mechanical and corrosion resistance requirements of structural steels and alloy components at an economical cost.

Latin America Molybdenum Market Insights, By End-use Industry – Construction Segment Dominates the Market due to Growing Infrastructure Development and Demand for Durable and Resilient Materials

The construction segment is anticipated to hold 37.2% share of the Latin America molybdenum market in 2025, driven by expansive urbanization, infrastructure modernization, and government investments in public works. The main uses of molybdenum in this industry is its effect of alloying with steel that contributes greatly in the strength of its structure, the welding ability, and the resistance to corrosion that are all vital qualities of the material of construction used in the long term.

Due to the rapid urbanization in large cities of Latin America, the construction steel and parts of the infrastructure, i.e., bridges, highways, and commercial buildings have been an increased market demand. The molybdenum-based alloys address these needs as they enhance the resistance of the steel to the adverse environmental factors such as the presence of humidity, changes in temperature, and chemical pollutants usually found in urban and industrial areas in the region.

Market Players, Key Development, and Competitive Intelligence

To learn more about this report, Download Free Sample

Key Developments

• In April 2025, Sumitomo Corporation announced the completion of project financing conditions for assets in Chile including Quebrada Blanca with copper and molybdenum concentrate production.
• In February 2025, Anglo American sold its nickel business (Brazil) to MMG Singapore Resources for up to USD 500 Mn, aligning with its portfolio-simplification strategy.
• In May 2024, Anglo American announced a major restructuring to sharpen its focus on future-facing commodities (i.e., copper, iron ore, crop nutrients). This followed and helped fend off a takeover bid by BHP Group.
• In 2024, Southern Copper Corporation produced 28,200 tons of molybdenum, reflecting a 5% increase compared to 2023. This growth was driven by higher production at key mines, including Toquepala, Cuajone, and Buenavista, although challenges arose from lower ore grades at the La Caridad mine.

Top Strategies Followed by Latin America Molybdenum Market Players

• The market is controlled by established players through high investment in research and development (R&D) in order to produce high performance molybdenum products that address changing needs of diverse industries such as automotive industry, aerospace industries and construction industry. Through their strong financial capacity, these firms use it to develop new superior alloys and better processing methods that can increase the life of their products and their efficiency.
  • For example, the largest copper producer Codelco, also dominates in production of molybdenum, whereby it invests in new technologies and increases its operations in major markets such as Brazil and Argentina to cater to increasing demand of molybdenum in industrial uses.

• The Latin America molybdenum market players who are at the middle level know how to position themselves strategically through providing cost-effective solutions that are effective in balancing quality with affordability. Taking advantage of price elastic buyers, these firms design product lines that are focused on functional dependability and do not have the high cost of high-end substitutes. In effort to increase their scale and competitiveness, mid-level companies tend to enter into collaborations and partnerships in an effort to increase the production capacity and embrace newer technology.
  • For example, the Grupo Mexico, a large Mexican conglomerate, has partners in the region to provide molybdenum-based alloys to the automotive and energy industry, and concentrates on cost effective alloys without compromising on quality of performance.

• Latin America molybdenum market is characterized by small-scale players who accept their niche market by specializing in features or extremely innovative products depending on the target customer needs. This category of players may tend to embrace new technologies like additive manufacturing, high-performance finishes, or bespoke alloy development to distinguish themselves with their larger competitors. These companies can focus their efforts on agility and innovation to draw in the focus of specific segments of an industry by focusing on specific regional applications or specific niche market segments.
  • For example, Minera Los Pelambres focuses on molybdenum with tailored properties to be used in electronics and medical equipment, which is based on the sophisticated processing technology to come up with unique alloy with high corrosion and heat resistance.

Innovations in Mining and Refining in Latin America

• Chile’s clean roasting and by-product recovery push. Molymet’s Molynor complex at Mejillones runs dual moly roasting furnaces with integrated liquid/solid tailings recovery and neutralization. Operations recover saleable rhenium and produce sulfuric acid from off-gases, improving yields and cutting emissions.
• Codelco’s Mejillones roasting hub build-out. Codelco invested to commission a Mejillones molybdenum plant with roasting, leaching, and gas-treatment systems sized for 16–16.5 kt/y MoO₃, consolidating Chile’s downstream capacity near port logistics.
• Peru: high-Re circuits and modern concentrators. Cerro Verde’s copper-moly operation produces moly concentrate; geomet data show exceptionally high Re/Mo ratios in this district, supporting rhenium recovery economics in associated hydromet steps.
• Process and environmental upgrades around Cu-Mo concentrators. Plants across Chile and Peru run column and intensified flotation cells for Cu-Mo separation and cleaning, reducing circulating loads and improving Mo selectivity; new hooding and gas-capture systems improve SO₂ control in smelting/roasting lines.
• Logistics and water innovations that enable production. The QB2 project added a large-scale seawater desalination plant and 145-km pipeline to secure process water in the Atacama, while Sierra Gorda shifted to LNG-powered sealed concentrate haulage to cut emissions and spillage risk.

Market Report Scope

Latin America Molybdenum Market Report Coverage

Latin America Molybdenum Market Dynamics

To learn more about this report, Download Free Sample

Latin America Molybdenum Market Driver - Rising Steel Production and Infrastructure Expansion

A major excursion to the molybdenum market is the growing steel manufacturing activity in Latin America since molybdenum is a key alloying element to improve the strength, corrosion strength, and weldability of steels.

Most of the nations in the region are also aggressively spending on industrial development and infrastructural projects like roads, bridges, and urban development which in itself requires high grade of steel materials. This push in the growth of infrastructure creates the demand of molybdenum-enriched steel in order to guarantee durability and longevity, especially in harsh environmental factors.

To illustrate, the European central bank cut the key interest rate by 25 basis points in June 2024, which is a reversal of monetary tension. This move was expected and saw a slight rise in steel production starting in April 2024 before rising to 5.1% annually in June production throughout the European Union which then grew to 5.7% towards July .

Latin America Molybdenum Market Opportunity - Emergence of Battery and Energy-Storage Applications

The Latin America molybdenum market is poised to benefit significantly from the burgeoning battery and energy-storage sector, presenting a compelling growth opportunity. As countries in the region increasingly adopt green energy sources such as solar and wind, the demand for efficient, durable, and high-performance energy storage systems is intensifying.

Molybdenum’s unique properties such as high corrosion resistance, excellent strength at elevated temperatures, and superior conductivity make it an ideal component in advanced battery technologies, including lithium-ion and emerging solid-state batteries. Moreover, molybdenum-based compounds are being utilized in electrodes and super catalysts within energy storage devices, contributing to enhanced battery life and performance.

As battery/energy-storage systems proliferate, steel support structures, power electronics housings, high-corrosion alloy components, and novel catalyst systems may increasingly specify high-performance molybdenum alloys or compounds. For regional producers and processors, this provides a diversification lever beyond traditional steel-alloy demand.

Analyst Opinion (Expert Opinion)

• The Latin America molybdenum market is poised for significant growth, driven by increasing demand in steel production and emerging applications in renewable energy technologies. Insights from the Latin American Mining Congress (2023) and the Molybdenum & Other Specialty Metals Conference (2022) highlighted critical developments, with companies like Antofagasta PLC and Southern Copper Corporation at the forefront of innovation in molybdenum extraction and processing.
• Antofagasta's recent investments in advanced extraction technologies that enhance recovery rates and reduce environmental impact exemplify the market's response to sustainability pressures. Discussions at these events underscored the importance of developing local supply chains to mitigate risks associated with global price fluctuations and geopolitical instability. However, challenges such as regulatory hurdles and competition from alternative alloys were frequently cited as potential barriers.
• Companies that focus on improving operational efficiencies and fostering strong relationships with industry stakeholders will likely thrive in this competitive landscape. Ultimately, the growth of the Latin America molybdenum market will depend on its ability to innovate and adapt while addressing both industry demands and environmental concerns in a rapidly evolving market.

Market Segmentation

• Product Type Insights (Revenue, USD Mn, 2020 - 2032)
  • Molybdenum Metal
  • Ferromolybdenum (FeMo)
  • Molybdenum Oxides
  • Molybdenum Disulfide (MoS₂)
  • Others (Sodium Molybdate, etc.)
• Purity Grade Insights (Revenue, USD Mn, 2020 - 2032)
  • Technical Grade
  • High-Purity Grade
  • Ultra-High-Purity Grade
  • Chemical Grade
  • Others (Food grade, etc.)
• End-use Industry Insights (Revenue, USD Mn, 2020 - 2032)
  • Construction
  • Automotive
  • Oil & Gas
  • Aerospace & Defense
  • Power Generation
  • Others (Medical Devices, etc.)
• Distribution Channel Insights (Revenue, USD Mn, 2020 - 2032)
  • Direct
  • Indirect (via Distribution)
• Key Players Insights
  • CMOC Group Limited
  • Shaanxi Non-ferrous Metals Holding Group Co., Ltd.
  • Zangezur Copper-Molybdenum Combine
  • Greenland Resources Inc
  • South32
  • Newmont Corporation
  • Antofagasta plc
  • Mitsui & Co. (Chile) Ltda.
  • KGHM

Sources

Primary Research Interviews

• Operations Manager – Leading Molybdenum Mining Company (Chile/Peru)
• Procurement Specialist – Global Steel Manufacturer with Latin American Operations
• Product Development Lead – Alloy Manufacturer (Latin America)
• Sustainability/ESG Officer – Mining Sector Sustainability Association (Latin America)

Stakeholders

• Mining Companies (Molybdenum Extractors)
• Metallurgical Sector (Steel, Superalloys)
• End-use Sectors
  • Construction and Infrastructure
  • Oil & Gas (pipeline alloys)
  • Automotive and Aerospace Manufacturers
• Regulatory and Environmental Agencies
• E-commerce Platforms and Industrial Distributors
• Technology Providers (Mining automation and process optimization)

Databases

• UN Comtrade Database
• S&P Global Market Intelligence (Metals & Mining Data)
• Latin America Trade and Export/Import (EXIM) Database

Magazines

• Mining Journal – Latin America Mining and Metals Trends
• Latin Mining Weekly – Regional updates on molybdenum and metals production
• Metal Bulletin – Molybdenum Market Prices and Trade News
• Steel Times International – Alloy and metallurgical market reports
• Industry Today (Latin America) – Mining and metallurgical sector developments

Journals

• International Journal of Mineral Processing – Molybdenum extraction and processing
• Minerals Engineering – Innovations in molybdenum mining and use
• Journal of Alloys and Compounds – Molybdenum applications in alloys
• Latin American Journal of Mining – Regional mining research and trends
• Resources Policy – Market and trade policy impacts on molybdenum

Newspapers

• The Financial Times – Global commodity price impacts on Latin America
• Mining.com – Market shifts and strategic investments
• Latin America Business News – Mining sector investment and regulatory news
• El Mercurio (Chile) – Local mining sector coverage
• Valor Econômico (Brazil) – Metals trade and industrial market updates

Associations

• International Molybdenum Association (IMOA)
• Latin American Mining Organization (OLAMI)
• Asociación de Minería de Chile (SONAMI)
• Institute of Materials, Minerals and Mining (IOM3)
• Latin American Steel Association (ALACERO)

Public Domain Sources

• USGS – Molybdenum Commodity Reports and Mineral Commodity Summaries
• OECD – Trade, resource governance, and mining sector outlooks
• World Bank – Commodity Markets Outlook (Metals)
• United Nations Economic Commission for Latin America and the Caribbean (ECLAC) – Mining and industrial sector reports
• Local Mining Ministries and Environmental Agencies (various Latin American countries)

Proprietary Elements

• CMI Data Analytics Tool, Proprietary CMI Existing Repository of information for last 8 years.