Global Rhodium Market 2021 Report provides an Proficient analysis of the Rhodium Market including deep description of market sizing and growth, value, the key opportunities in the Rhodium Market and outlines the factors that are and will be driving the growth of the industry taking into consideration the previous growth patterns with Forecast Period 2021-2026.
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The Rhodium Market report provides insight into main drivers, challenges, opportunities and risk of the market and strategies of suppliers. Key players are profiled as well with their market shares in the global Rhodium Market discussed. Overall, this report covers the historical situation, present status and the future prospects.Additionally, the worldwide market is segmented based on type, application, deals, and area. It contains numbers, regions, revenue, and offers just as the thorough computation of the business chain structure, opportunities, industry news analysis. The application portion shows the employments of the product.
The Rhodium Market report also covers a detailed comprehension of the major geographies present in the market along with the key segments and sub-segments. The report focuses on regional development status, which includes the market size, share, and volume.
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About Rhodium Market:
Rhodium is a silvery-white platinum group metal (PGM) resistant to corrosion and highly reflective. It is considered the rarest and most valuable precious metal in the world. About 88% of the global rhodium produced is used for making catalysts that reduce the release of harmful substances from vehicle exhausts. About 55.5% of total rhodium produced (both mineral source and recycling included) comes from South Africa, contributing to 81% of the total mine supply. The Russian Federationâ€™s 7% contributes to the next largest percentage of the world’s rhodium supply. The USA and Canada mine contribute about 2.1%, while Zimbabwe mines contribute about 3.5% of the world’s annual rhodium supply. 31% of the world’s rhodium supply is through open-loop recycling. There is no futures market for rhodium, but there are a few exchanges that trade the element, including Johnson Matthey in Hong Kong.
According to Researcher, the global rhodium market is expected to witness growth at quite a significant rate during the forecast period. The major factors responsible for the global rhodium market’s growth would be a steady rise in the demand for catalytic converters used in the automotive industry and the rising demand for rhodium in many other industrial sectors. Platinum-rhodium alloys are used as effective catalysts in chemical reactions. Nitric acid production involves one such catalyst. Rhodium electroplating makes jewelry shine as rhodium can reflect 80% of visible rays, besides having hypoallergenic properties and being scratch and tarnish resistant. Rhodium is used with platinum to make durable heat-resistant lab vessels as both these elements are inert. They are also used in making scientific equipment such as thermoelectric measuring devices, spectrometers, and neutron flux level detectors. Plating connectors and contacts in electrical devices, and plating floodlight reflectors, and some technical mirrors in dentistry are some of the rhodiumâ€™s uses as well. Rhodium alloyed with iridium and/or platinum is utilized to manufacture thermocouples for measuring high temperatures of up to 2,200 Â°C. Soldering and corrosion-resistant coatings are some of the other fields where rhodiumâ€™s application comes in handy. However, limited resources combined with growing strain on its supply due to the increasing appetite for its applications are expected to pose a challenge on the global rhodium market. Price volatility, consolidated stature, government regulations, and difficulty in synthetic processing of rhodium will serve as other restraining factors to the marketâ€™s growth.
Europe dominated the global rhodium market due to stringent environmental policies influencing the higher demand for automotive catalytic converters, closely followed by North America. North America is known to be the leader in producing rhodium through recycling. About 89% of the rhodium used as auto-catalyst is replenished here. Asia-Pacific has enormous scope for further explorations in the market, making it the fastest-growing market.
The global rhodium market is highly consolidated. Major players in the market were found to be Anglo American, Nornickel, Impala, Lonmin, and Sibanye-Stillwater, among others.
According to Northam Platinumâ€™s CEO Paul Dunne, rhodium is anticipated to be the metal of the next decade. In August 2020, Dunne said, â€œA cleaner, greener world needs platinum group metals (PGMs). We need PGMs and rhodium, in particular, has the strongest fundamentalsâ€. â€œIf you look at loadings. If I looked back five years ago, loadings per vehicle for rhodium was perhaps 0.3 g per vehicle on average for light-duty vehicles. We believe that it will rise to 0.45 g per vehicle. So, youâ€™re looking at a 50% increase in rhodium loadings from five years past to five years forward, which is very significant.” he continued. While the demand is set to increase, he concluded that the production is constrained as most supplies come from the Bushveld Complex of South Africa.
The rhodium market is expected to tighten further and see prices gain traction following the announcement by Anglo American Platinum in November 2020 that it will close its Anglo Convertor Plant Unit B at its Waterval smelter complex for a full rebuild, which will last through 2021. The announcement removes 34,000 oz rhodium supply in 2020, apart from removing 350,000 oz platinum and 250,000 oz palladium, tightening the PGM markets and pushing prices higher.
Global Rhodium Market report provides deep insights into the current and future state of the rhodium market across various regions. The study comprehensively analyzes the rhodium market by segmenting based on source (Mineral Source/ PGM Mining, and Recycling), type (Alloys, Metal, and Compounds), end-user industry (Automotive, Chemical, Glass, Electricals and Electronics, and Others), application (Catalysis, Jewelry, Platinum and Palladium Alloying, and Others), and geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The report examines the market drivers and restraints, along with the impact of Covid-19 on the marketâ€™s growth, in detail. The study covers & includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with profiles of major companies, including their market shares and projects.
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This report provides detail analysis of the market and have a comprehensive understanding of the Rhodium market and its commercial landscape. Learn about the various market strategies that are being adopted by leading companies.It provides a five-year forecast assessed based on how the Rhodium market is predicted to grow.It provides insightful analysis of changing competition dynamics and keeps you ahead of competitors.To understand the future scope and outlooks for the Rhodium market.Rhodium Market Forecast by regions, type and application, with sales and revenue, from 2021.Rhodium Market Share, distributors, major suppliers, changing price patterns and the supply chain of raw materials is highlighted in the report.
Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.
Detailed TOC of Global Syngas Market Outlook to 2026
1 Executive Summary
2 Research Scope and Methodology
2.1 Aim & Objective of the study
2.2 Market Definition
2.3 Study Information
2.4 General Study Assumptions
2.5 Research Phases
3 Market Analysis
3.2 Market Dynamics
3.3 Market Trends & Developments
3.4 Market Opportunities
3.5 Raw Material Analysis
3.6 Regulatory Policies
4 Industry Analysis
4.1 Supply Chain Analysis
4.2 Porter’s Five Forces Analysis
4.2.1 Competition in the Industry
4.2.2 Potential of New Entrants into the Industry
4.2.3 Bargaining Power of Suppliers
4.2.4 Bargaining Power of Consumers
4.2.5 Threat of substitute products
5 Market Segmentation & Forecast
5.1 By Type
5.4 By Application
6 Regional Market Analysis
6.1 North America
6.1.1 United States
6.2.1 United Kingdom
6.2.6 Nordic Countries
6.2.7 Rest of Europe
6.3.4 South Korea
6.3.5 ASEAN Countries
6.3.6 Rest of Asia-Pacific
6.4 South America
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 South Africa
6.5.2 Saudi Arabia
7 Key Company Profiles
8 Competitive Landscape
8.1 List of Notable Players in the Market
8.2 M&A, JV, and Agreements
8.3 Market Share Analysis
8.4 Strategies of Key Players
9 Conclusions and Recommendations
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