Molybdenum primarily is used to improve the corrosion resistance of stainless steel in more demanding applications, such as chemical processing plants or in marine applications. The addition of molybdenum increases the pitting and crevice corrosion resistance of stainless steels in chloride containing solutions.

To increase hardness and wear resistance over a broad temperature spectrum, molybdenum is added to tool- and high-speed steel. It increases the strength and hardness of cast iron, as well as increases elevated temperature strength and creep resistance. In high-strength, low-alloy steels (HSLA), molybdenum improves strength and weldability.

Molybdenum is an important alloying element in high-performance nickel-based alloys. The corrosion-resistant, nickel-based alloys find extensive use in the chemical processing, pharmaceutical, oil and gas, petrochemical, and pollution-control industries.