Global Rhodium Market Size, Share, Growth Analysis, By Type(Alloys, metals and compounds), By Source(Mineral source, and recycling resource.), By Application(Chemical manufacturing, catalyst)

Description

Global Rhodium Market size was valued at USD 2.22 billion in 2022 and is poised to grow from USD 2.35 billion in 2023 to USD 3.66 billion by 2031, growing at a CAGR of 5.7% during the forecast period (2024-2031).

Rhodium is a highly reflective and corrosion-resistant metal in the platinum group. It is regarded as the world's most valuable and scarcest metal. The majority of the rhodium produced worldwide is used to create catalysts that reduce the amount of hazardous components in automobile exhaust. The need for catalytic converters in the automobile industry and the rising demand for rhodium in other industrial sectors might both drive significant expansion in the global rhodium market. The market for rhodium was severely impacted by the Covid-19 epidemic because precious metal prices were hindered. The pushback against lockup norms presented significant issues for the automotive sector. However, following the lifting of the lockdown restrictions, the market is expected to expand at a good pace.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Rhodium Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the Market size includes the following details: The key players in the Market were identified through secondary research, and their Market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top Market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Rhodium Market Segmental Analysis

The global rhodium market is segmented on the basis of type, source, application, and region. Based on type, the market is segmented into alloys, metals, and compounds. In terms of source, the rhodium market is segmented into mineral source, and recycling resource. With respect to segmentation by application, the market is categorized into chemical manufacturing, catalyst, electrical & electronics, jewellery, and others.

Drivers of the Global Rhodium Market

The welding and automotive sectors' spike in rhodium consumption may help drive the market's expansion. As a catalyst, rhodium has the potential to increase demand in the automobile sector. The growing need for spectrometers and thermoelectric devices is another factor driving the product's demand.

Restraints in the Global Rhodium Market

When compared to other metals, rhodium stands out for its notably higher price point as a product, potentially constraining its demand in specific applications and impeding the overall growth trajectory of the rhodium market. However, despite its premium pricing, rhodium's unique properties, such as its exceptional corrosion resistance and catalytic capabilities, continue to render it indispensable in various industrial sectors, including automotive, electronics, and jewelry manufacturing.

Market Trends of the Global Rhodium Market

The present market trend is an increase in research and development efforts aimed at discovering new applications for rhodium in emerging industrial regions of Europe and Japan. One of the platinum-rhodium alloys that are utilized as efficient catalysts in chemical reactions is the one that produces nitric acid. Rhodium is mostly used to make catalysts that reduce hazardous waste gasses for human health.

Product Code: SQMIG15M2006

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Rhodium Market by Type

Market Overview
Alloys
metals and compounds

Global Rhodium Market by Source

Market Overview
Mineral source
and recycling resource.

Global Rhodium Market by Application

Market Overview
Chemical manufacturing
catalyst
electrical & electronics
jewellery
and others

Global Rhodium Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2023
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2023

Key Company Profiles

Anglo American Platinum Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Impala Platinum Holdings Limited
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Norilsk Nickel
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Stillwater Mining Company
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Sibanye-Stillwater
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Lonmin Plc
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Johnson Matthey
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Heraeus Holding GmbH
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Umicore SA
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Tanaka Holdings Co., Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Asahi Holdings, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Sumitomo Metal Mining Co., Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Mitsui Mining and Smelting Co., Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Nihon Materi Corporation
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Boliden AB
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
JSC MMC Norilsk Nickel
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Northam Platinum Limited
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Zimplats Holdings Limited
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Eastern Platinum Limited
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Impala Refining Services (IRS)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Rhodium Market Size, Share, Growth Analysis, By Type(Alloys, metals and compounds), By Source(Mineral source, and recycling resource.), By Application(Chemical manufacturing, catalyst) - Industry Forecast 2024-2031