News Release: July 21, 2025
Cobalt-Molybdenum (Co-Mo) Catalysts Price Trend in Past Five Years and Factors Impacting Price Movements (2019–2024)
Between 2019 and 2024, the Cobalt-Molybdenum (Co-Mo) Catalysts market has experienced significant shifts in pricing, driven by a dynamic combination of supply chain challenges, demand variations, raw material cost fluctuations, and evolving industrial applications. Over this five-year period, global prices have responded both to macroeconomic factors and changes in the refining and chemical processing sectors, where Co-Mo catalysts are extensively used.
In 2019, the average Cobalt-Molybdenum (Co-Mo) Catalysts price was around $23,800/MT. The market was relatively stable, supported by consistent demand in petroleum refining and desulfurization processes. However, in 2020, with the onset of the COVID-19 pandemic, prices declined to approximately $20,900/MT due to disrupted global supply chains and reduced industrial activity, especially in the oil refining sector. Lockdowns and production halts led to lower procurement, resulting in a brief oversupply in some regions.
In 2021, the market rebounded, driven by increased refinery operations and a surge in demand for cleaner fuels in response to tightening global emissions regulations. The average price rose to $26,300/MT. This upward movement was further supported by limited cobalt mining activity in key regions such as the Democratic Republic of Congo (DRC), leading to constrained supply for cobalt-based catalysts.
The year 2022 saw a sharper increase in pricing, reaching approximately $30,500/MT. A key factor was the geopolitical instability resulting from the Russia-Ukraine conflict, which impacted global energy markets and caused spikes in base metal prices, including cobalt and molybdenum. Moreover, logistical bottlenecks and shipping delays added to overall cost increases.
In 2023, Cobalt-Molybdenum (Co-Mo) Catalysts prices surged further to an estimated $34,200/MT. The growing global emphasis on green hydrogen production and clean fuel technologies increased demand for Co-Mo catalysts in hydroprocessing applications. Meanwhile, cobalt and molybdenum prices rose due to increasing demand in battery and alloy industries, which also influenced catalyst pricing.
By early 2024, prices touched $36,800/MT, driven by both upstream raw material costs and rising production costs due to energy inflation. There was also a noted rise in demand from Asia-Pacific and the Middle East for ultra-low sulfur diesel (ULSD) refining technologies, spurring catalyst demand.
In summary, the Cobalt-Molybdenum (Co-Mo) Catalysts price trend over the past five years has shown a clear upward trajectory, shaped by multiple global events and sector-specific developments. Raw material scarcity, supply chain volatility, energy transition policies, and refinery upgrades have all played crucial roles in shaping this price trend.
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Cobalt-Molybdenum (Co-Mo) Catalysts Price Trend Quarterly Update in $/MT: 2025
The following estimates present quarterly pricing data for Cobalt-Molybdenum (Co-Mo) Catalysts in 2025, reflecting current market developments, raw material availability, and refinery demand.
- Q1 2025: $37,200/MT
- Price growth was relatively moderate, driven by steady demand from North American refiners and rising cobalt prices.
- Q2 2025: $38,100/MT
Slight increase due to a supply disruption in African cobalt mines and strong refinery activity in China and India.
- Q3 2025 (estimated): $39,000/MT
Projected increase based on planned refinery expansions in Asia and increased demand from the hydrogenation sector.
- Q4 2025 (forecast): $40,300/MT
Expected to rise further due to year-end procurement cycles, high cobalt spot prices, and anticipated rise in catalyst demand for green fuel production.
These quarterly fluctuations reflect the market’s sensitivity to geopolitical shifts, feedstock availability, and emerging technologies such as renewable diesel refining.
Global Cobalt-Molybdenum (Co-Mo) Catalysts Import-Export Business Overview (2025)
In 2025, the international trade landscape of Cobalt-Molybdenum (Co-Mo) Catalysts is defined by strong demand across developing economies, shifting export dynamics, and a strategic push towards refining upgrades in compliance with stricter emissions norms. Countries are increasingly aligning their import-export strategies to ensure a consistent supply of high-performance catalysts for hydrodesulfurization and hydrocracking processes.
Asia-Pacific remains the leading importer of Co-Mo catalysts in 2025, accounting for over 42% of global import volumes. China and India continue to dominate demand due to expanding petrochemical and refining capacities. Both countries have ramped up their imports of Cobalt-Molybdenum (Co-Mo) Catalysts to meet rising domestic energy needs and adopt cleaner fuel standards. India’s national refining program, with upgraded hydrotreater units, has seen a 14% year-over-year increase in catalyst imports.
Meanwhile, Japan and South Korea have diversified their sourcing strategies by increasing imports from the U.S., Germany, and the Netherlands to mitigate supply risks from African nations. This shift reflects a broader industry move toward securing more stable and regulated sources of Co-Mo catalysts.
On the export front, the United States has emerged as a top global exporter of Cobalt-Molybdenum (Co-Mo) Catalysts, leveraging advanced production technologies and abundant access to molybdenum and cobalt feedstocks. U.S. exports have surged by 18% in 2025, with major shipments directed to Asia-Pacific and South American refineries.
The European Union remains both a major exporter and importer. Germany, France, and the Netherlands are key exporters, focusing on specialized catalyst formulations with high molybdenum content tailored for renewable fuel production. At the same time, intra-EU imports continue as countries diversify their refining operations and upgrade older facilities.
Africa, despite being a primary source of cobalt ores, still plays a limited role in value-added catalyst exports. However, 2025 has seen early developments in regional catalyst production facilities in South Africa and Zambia, aimed at exporting to Europe and the Middle East. These initiatives are expected to reduce raw material exports in favor of higher-value catalyst sales in the next few years.
South America, especially Brazil and Argentina, is witnessing growing demand for Cobalt-Molybdenum (Co-Mo) Catalysts due to regional refinery modernization. Imports in the region have increased by 12% compared to 2024, sourced mostly from the U.S. and China.
In the Middle East, nations like Saudi Arabia and the UAE have doubled their catalyst imports in 2025 due to aggressive refinery expansions under national energy transformation plans. These countries are increasingly partnering with global catalyst producers to develop domestic manufacturing capabilities, potentially reshaping export-import dynamics by 2026.
Overall, the Cobalt-Molybdenum (Co-Mo) Catalysts import-export market in 2025 shows growing diversification of supply chains, regionalization of production, and rising cross-border demand driven by energy transition goals. Producers are focusing on aligning catalyst performance with end-use requirements, which is leading to the growth of tailored catalyst trade agreements and long-term procurement contracts.
The current Cobalt-Molybdenum (Co-Mo) Catalysts sales volume is also showing steady growth, aligned with higher refinery operating rates and stricter sulfur content regulations in transportation fuels across multiple geographies. As of mid-2025, global Cobalt-Molybdenum (Co-Mo) Catalysts sales volume has increased by approximately 9% compared to the same period in 2024.
As countries adapt to low-emission fuel regulations, the Cobalt-Molybdenum (Co-Mo) Catalysts production and international trade are becoming increasingly strategic. Producers are investing in local refining technologies, while importers are focused on sourcing high-performance catalysts to meet future fuel quality standards.
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Cobalt-Molybdenum (Co-Mo) Catalysts Production Trends by Geography
In 2025, the global Cobalt-Molybdenum (Co-Mo) Catalysts production landscape is evolving rapidly, driven by regional investments, technological advancements, and the push for cleaner fuel production. Several countries have emerged as key producers, while others are investing in domestic capabilities to reduce dependency on imports. The global production trends reflect a shift toward localized manufacturing, environmental compliance, and customization for specific refining needs.
The United States continues to be a leading producer of Cobalt-Molybdenum (Co-Mo) Catalysts. American manufacturers benefit from easy access to molybdenum resources and cobalt imports through well-established supply chains. The U.S. has prioritized catalyst production aligned with stricter Environmental Protection Agency (EPA) mandates and the shift toward renewable diesel and biofuel refining. Production facilities are equipped with advanced processing technologies that allow for greater efficiency and product consistency. American producers are increasingly focused on creating highly specialized Co-Mo catalyst grades that meet the performance demands of next-generation hydroprocessing systems.
In Europe, Germany, the Netherlands, and France are prominent producers of Cobalt-Molybdenum (Co-Mo) Catalysts. These countries have invested heavily in refining innovation and emissions control technologies. European production is marked by a focus on sustainability, with a growing share of output being directed toward applications in renewable fuel refining and waste-to-energy projects. European producers are leading in the development of low-carbon catalyst production methods, integrating recycling and reclamation of catalyst materials. Additionally, the EU’s push for strategic autonomy in critical raw materials has led to joint ventures that ensure secure cobalt and molybdenum supply lines.
China holds a dominant position in terms of volume production of Cobalt-Molybdenum (Co-Mo) Catalysts. Chinese catalyst manufacturers serve the large domestic refining market, which is undergoing rapid modernization. With ongoing investments in large-scale refining and petrochemical integration, China is ramping up production capacity for hydrodesulfurization and hydrocracking catalysts. Local producers are also supported by government subsidies and favorable export policies, enabling competitive pricing on the global stage. However, environmental concerns have prompted regulatory oversight on production practices, pushing manufacturers toward cleaner and more efficient processes.
India is emerging as a significant production hub, driven by the government’s focus on energy independence and clean fuel initiatives. Indian companies are establishing local production lines to meet domestic demand, particularly for Bharat Stage VI (BS-VI) compliant fuels. There has also been a marked increase in collaborations with foreign catalyst technology providers, allowing Indian producers to enhance product quality and expand into international markets.
Japan and South Korea, though smaller in terms of volume compared to China, are known for high-performance catalyst production. These countries focus on precision engineering and advanced formulations tailored to specific refinery needs. South Korean firms are integrating digital technologies such as AI-based process optimization to improve production efficiency and catalyst lifetime. Meanwhile, Japan is investing in long-term R&D aimed at next-generation Co-Mo catalysts for hydrogen refining and ammonia-based fuels.
In South America, Brazil is taking steady steps toward establishing itself as a regional center for Cobalt-Molybdenum (Co-Mo) Catalysts production. While much of the current supply is still imported, domestic capacity is increasing, supported by government programs aimed at enhancing downstream chemical industries. Brazil’s focus is on meeting the catalyst requirements of growing local refining sectors and reducing reliance on North American and Asian imports.
The Middle East, especially Saudi Arabia and the UAE, is also moving towards building domestic catalyst production capabilities. Traditionally reliant on imports, these countries are now developing integrated catalyst production facilities within petrochemical complexes. This shift is a strategic move to support large-scale refinery upgrades and to position themselves as future exporters of Co-Mo catalysts.
Africa remains largely a supplier of raw cobalt rather than refined catalyst products, but new projects in South Africa and Zambia aim to change this dynamic. Localized production initiatives are in early stages, but the goal is to leverage local raw materials to produce and export value-added catalyst products, thereby retaining more economic value within the continent.
Globally, the Cobalt-Molybdenum (Co-Mo) Catalysts production landscape in 2025 reflects a move toward decentralization, cleaner production processes, and a growing emphasis on regional self-sufficiency. Nations are recognizing the strategic importance of domestic catalyst manufacturing to meet fuel quality mandates, ensure energy security, and capture economic value across the supply chain.
Cobalt-Molybdenum (Co-Mo) Catalysts Market Segmentation
Market Segmentation Points:
- By Application
- Hydrodesulfurization (HDS)
- Hydrodenitrogenation (HDN)
- Hydrocracking
- Hydrogenation
- Biomass and renewable fuel refining
- By End Use Industry
- Oil & Gas (Refineries)
- Petrochemicals
- Chemical Processing
- Renewable Fuel Manufacturers
- By Form
- Extrudate
- Powder
- Granules
- By Region
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- Latin America
Explanation of Leading Segments
In 2025, the most dominant application segment for Cobalt-Molybdenum (Co-Mo) Catalysts is hydrodesulfurization. This segment holds the largest market share due to the increasing global demand for low-sulfur fuels. Regulatory mandates in major economies such as the United States, European Union, India, and China have pushed refineries to adopt more stringent sulfur removal processes. Co-Mo catalysts are central to hydrodesulfurization, helping reduce sulfur content in diesel and gasoline to meet environmental standards. The continued enforcement of clean fuel standards is likely to maintain this segment’s dominance.
Hydrocracking and hydrogenation are also growing application segments, especially in regions investing in heavy oil upgrading and renewable fuel production. Hydrocracking requires highly active catalysts to break large hydrocarbons into lighter, more valuable products. Cobalt-Molybdenum catalysts are increasingly being optimized to support these reactions in a cost-effective way. Similarly, hydrogenation applications are expanding in the chemical processing and food industries, where Co-Mo catalysts are used to stabilize oils and intermediates.
The renewable fuel refining segment is emerging as a fast-growing application, driven by government policies supporting green fuel production. Co-Mo catalysts are essential in the hydrotreatment of vegetable oils, waste oils, and animal fats, converting them into renewable diesel or sustainable aviation fuels. This application is gaining traction in North America, Europe, and parts of Asia, leading to a spike in demand for customized catalyst solutions suitable for biomass feedstocks.
In terms of end use, the oil and gas industry continues to be the largest consumer of Cobalt-Molybdenum (Co-Mo) Catalysts. Refineries worldwide use these catalysts in multiple processes to improve fuel quality and efficiency. However, the end use landscape is diversifying. Renewable fuel manufacturers now represent a growing share, spurred by incentives for sustainable energy alternatives. These manufacturers demand catalysts that are effective at processing non-petroleum feedstocks while minimizing greenhouse gas emissions.
Petrochemical and chemical processing industries also utilize Co-Mo catalysts for producing intermediates and specialty chemicals. These segments require consistent and high-purity outputs, for which Co-Mo catalysts offer the needed stability and reactivity.
By form, extrudate catalysts dominate the market due to their mechanical strength, surface area, and ability to handle high-pressure conditions. This form is widely used in industrial-scale refining processes. Powdered and granule forms are more niche, typically used in laboratory or specialty chemical applications. However, demand for granulated catalysts is increasing in fluidized bed systems and small-scale bio-refineries.
Regionally, Asia-Pacific leads the market, both in terms of consumption and production. China and India’s investments in refining capacity and fuel quality upgrades have propelled them to the forefront. Europe is the second-largest market, with significant emphasis on low-emission fuels and renewable energy transformation. North America remains a key player due to established refining infrastructure and growing renewable diesel production.
The Middle East is expanding its role, especially with new refinery projects aiming to comply with global standards. Latin America and Africa are smaller markets but are expected to grow as energy security and fuel quality become national priorities.
In conclusion, the Cobalt-Molybdenum (Co-Mo) Catalysts market is segmented across several dimensions, each responding to unique industry drivers. Hydrodesulfurization and oil and gas refining remain core segments, while renewable fuel refining is quickly emerging as a critical growth area. Regional dynamics, regulatory frameworks, and feedstock innovations will continue to shape the segmentation and competitive landscape in 2025 and beyond.