Dublin, Dec. 18, 2024 (GLOBE NEWSWIRE) — The “Rhodium – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Rhodium was estimated at US$4.0 Billion in 2023 and is projected to reach US$5.6 Billion by 2030, growing at a CAGR of 5.0% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Rhodium Market such as African Rainbow Minerals Ltd., Alfa Aesar, Amass Metals, American Elements, Anglo American Platinum Ltd. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
The growth in the rhodium market is driven by several interrelated factors, ranging from technological advancements and regulatory changes to supply chain dynamics and consumer behavior in key industries. A primary driver is the increasing pressure on automakers to meet stricter global emissions standards, which has pushed the automotive industry to increase the use of rhodium in catalytic converters. As countries worldwide enforce tighter regulations to reduce carbon footprints and improve air quality, the need for rhodium has surged, particularly in regions with the most stringent standards.
Another significant growth driver is the expansion of technological applications that require materials with high corrosion resistance and thermal stability, which only rhodium can offer. Beyond the automotive industry, rhodium is finding new uses in cutting-edge technologies, including renewable energy systems, where its durability in harsh environments makes it essential for certain high-performance components.
Supply-side constraints also play a critical role in rhodium’s market growth. The limited number of mines producing rhodium, most of which are concentrated in South Africa, combined with the complexity of its extraction as a by-product, has created a tight supply that cannot easily be expanded. This scarcity is exacerbated by geopolitical risks and labor issues in mining regions, which can lead to supply chain disruptions, pushing prices even higher. Additionally, the rise of e-commerce has simplified the procurement of rhodium for industrial applications, enabling faster and more efficient sourcing of this precious metal globally.
Finally, consumer awareness regarding sustainability and environmental impact has indirectly bolstered the rhodium market, as the demand for cleaner, more eco-friendly automotive solutions requires materials like rhodium to ensure compliance with environmental regulations. Altogether, these factors create a strong foundation for continued growth in the rhodium market, ensuring its importance in both traditional and emerging industrial applications for years to come.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Automobile End-Use segment, which is expected to reach US$2.9 Billion by 2030 with a CAGR of a 5.4%. The Refinery End-Use segment is also set to grow at 4.5% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $1.1 Billion in 2023, and China, forecasted to grow at an impressive 8.4% CAGR to reach $1.2 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Rhodium Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Some of the 14 companies featured in this global rhodium market report include:
- African Rainbow Minerals Ltd.
- Alfa Aesar
- Amass Metals
- American Elements
- Anglo American Platinum Ltd.
- Anglo American PLC
- Arora Matthey Limited
- Catalysts and Technologies
- Chimet S.p.A.
- DCL International, Inc.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 79 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $4 Billion |
| Forecasted Market Value (USD) by 2030 | $5.6 Billion |
| Compound Annual Growth Rate | 5% |
| Regions Covered | Global |
Key Topics Covered
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Rhodium – Global Key Competitors Percentage Market Share in 2024
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Growing Demand for Catalytic Converters in Automotive Industry Propels Growth in the Rhodium Market
- Increasing Focus on Reducing Vehicle Emissions Expands Addressable Market for Rhodium in Emission Control Technologies
- Advances in Hydrogen Fuel Cell Technologies Drive Innovation in Rhodium Applications for Clean Energy Solutions
- Surge in Demand for Precious Metals in Industrial Applications Here`s How It Spurs Growth in Rhodium Usage
- Rising Focus on Sustainable Mining Practices Strengthens the Business Case for Eco-Friendly Rhodium Sourcing
- Increasing Demand for Rhodium in Jewelry Expands Market for Premium and High-Value Metal Applications
- Advances in Electroplating Technologies Propel Growth in Rhodium Usage for Durable and Decorative Coatings
- Increasing Use of Rhodium in Glass Manufacturing Expands Market for High-Temperature and Durable Glass Production
- Rising Investment in Renewable Energy Sources Fuels Growth in Rhodium Applications for Solar and Wind Power Technologies
- Growing Demand for Rhodium in Chemical Industry Expands Market for Catalysts in Chemical Reactions and Production Processes
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/ye9rat
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