Rhodium Market size expected to hit US$ 3.18 Bn by 2029 from US$ 2.2 Bn in 2022 at a CAGR of 5.4% during the forecast period
Rhodium Market Overview:
In-depth market forecasting and analysis reveal a promising trajectory for the global Rhodium market, with projections spanning from 2021 to 2027. The market is poised for substantial growth, driven by heightened demand for Rhodium.
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Rhodium Market Report Scope:
This comprehensive report provides a thorough examination of current and emerging trends in the Rhodium market. With a focus on key product positions and competitor strategies, the analysis encompasses technology, end-user, and type categories, offering insights into the entire Rhodium market environment.
Rhodium Market Research Methodology:
A rare and noble metal, rhodium (Rh) is a member of the platinum group metals (PGMs), which also includes palladium and platinum. It is mostly utilized in the chemical industry for a variety of applications, including the synthesis of nitric acid, and in the automotive sector for catalytic converters. Rhodium has the qualities of hardness, resistance to corrosion, and inertness to chemicals.
Rhodium Market Dynamics:
The market for rhodium is quite tiny and rather erratic, with frequent price fluctuations. This is because of a number of things, including the scarce supply of rhodium and the high demand in the automotive sector, which is one of the main consumers of rhodium.
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Rhodium Market Segmentation:
by Application
1. Automotive Industry
2. Chemical Industry
3. Jewelry Industry
by Source
1. Mining
2. Recycling
by Distribution Channel
1. Refiners
2. Traders
3. End-users
by Product Type
1. Alloys
2. Metals
3. Compounds
Rhodium Market Key Players:
1. Anglo American Platinum
2. Impala Platinum Holdings Limited
3. Norilsk Nickel
4. Sibanye-Stillwater
5. Heraeus Holding
6. Johnson Matthey
7. African Rainbow Minerals
8. J – J Materials
9. Glencore
10. Lonmin
Rhodium Market Regional Insights:
The regional segment delves into individual market influencers, changes in market laws, and global players’ presence and challenges. It incorporates downstream and upstream value chain analysis, technology trends, porter’s five forces analysis, and case studies to anticipate market scenarios across regions.
Rhodium Market COVID-19 Impact Analysis:
Highlighting the significant influence of the COVID-19 pandemic on the global Rhodium market, the report discusses production halts, manpower shortages, and the ensuing economic slump. Anticipating a transient impact, the report forecasts a revival in early 2021 due to increased demand for Rhodium.
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Rhodium Market Key Questions Answered:
- Which segment dominated the Rhodium market share?
- What was the competitive scenario in the Rhodium market in 2020?
- What are the key growth factors for the Rhodium market?
- Which region held the largest share in the Rhodium market in 2020?
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