Rhodium Market Size, Share & Industry Analysis, By Type (Mineral Source, Recycling Source), By Application (Catalyst, Chemical Manufacturing, Electricals and Electronics, Jewellery, Others), and Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
Rhodium or Rh is a chemical element with an atomic number 45. It is a member of the platinum group and also a noble metal. It appears as a silvery-white and an ultra-rare metal. Rhodium Market offers chemical inert, hardness, and corrosion-resistant properties. These characteristics make it a sustainable choice over other metals such as gold and silver. In addition, the metal is highly utilized as an alloying agent in the materials like palladium and platinum. The high consumption of rhodium can be seen in the various application which includes electrical, jewelry, production of several chemicals, and in the conversion of catalytic.
The rising demand for rhodium in the various application will flourish the market growth. In the pieces of jewellery, owing to its hardness characteristics, it is utilized as a protective coat that helps to shields jewelry from scratches. As a blowing agent, the product finds its high use in laboratory crucibles, electrodes for aircraft spark plugs, and furnace coils. The rising consumer expenditure over jewelry coupled with increasing product advancement will surge the product demand. Hence, these factors will fuel the rhodium market growth during the forecast timeline.
However, the rhodium metal is too expensive when compared with other metals. This restricts its demand in various applications and is anticipated to restrain the rhodium market growth.
Key Market Driver -
The rising demand for rhodium in various applications to drive the market growth.
Key Market Restraint -
High price of the rhodium to restrict the market growth
RHODIUM MARKET Segmentation ANALYSIS:
Based on type, the rhodium market is segmented into mineral source and recycling source. Based on application, the rhodium industry is segmented into catalyst, chemical manufacturing, electrical & electronics, jewellery, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Key Players Covered:
- Glencore
- Vale SA
- Sibanye Gold Limited
- Russian Platinum
- Northam Platinum
- Anglo American Platinum
- Norilsk Nickel
- Sibanye-Stillwater
- Sharretts Plating Company
- DF Goldsmith
Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenarios
- Porters Five Forces Analysis
Regional RHODIUM MARKET ANALYSIS:
Europe to Lead Backed by Growing Use in Jewelry Making
Europe is anticipated to witness sustainable growth in the rhodium market. The growth is attributed to the rising production of rhodium for jewelry application. The rising product adoption in chemical manufacturing will fuel the market growth in Asia Pacific. In North America, the growth is due to the increasing demand for the product in the electrical & electronics industry. The Middle East & Africa is anticipated to witness significant growth, owing to the adoption of the product in the catalyst application.
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Segmentation
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- Ongoing
- 2023
- 2019-2022
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