Rhodium Market size expected to hit USD 3.18 Bn by 2029 from USD 2.2 Bn in 2022 at a CAGR of 5.4% during the forecast period
Rhodium Market Overview:
A newly released report offers an in-depth analysis of the Rhodium Market, providing valuable insights into its market values, scope, and regional dynamics. The research, conducted by a dedicated team, delves into the market’s segmentation, key drivers, restraints, and regional perspectives.
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Rhodium Market Report Scope:
The report comprehensively scopes the Rhodium Market, utilizing a robust research methodology. Revenue data from major suppliers, coupled with vendor offerings, forms the foundation for market segmentation. The bottom-up technique, incorporating the income of major firms, is employed to estimate the overall market size. This extensive research aims to deliver a detailed understanding of the primary elements influencing the growth of the Rhodium Market industry.
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 research includes an extensive regional analysis, blending primary and secondary research to offer a realistic perspective. Country-level analysis considers regional stakeholders, tax laws, consumer behavior, and macroeconomic indicators. Separate market share data is presented for North America, Europe, Asia-Pacific, the Middle East and Africa, and South America, empowering analysts to conduct targeted competitive analysis.
COVID-19 Impact Analysis:
The report doesn’t shy away from addressing the impact of COVID-19 on the Rhodium Market. A complete assessment, based on import, suppliers, and market players, unveils the pandemic’s influence and strategies to navigate the challenges.
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Rhodium Market Key Questions Answered:
The Rhodium Market Report answers pivotal questions, including:
- Which segment dominated the Rhodium Market share?
- How was the competitive scenario in 2020?
- What factors fueled the Rhodium Market growth?
- Which region held the maximum market share in 2020?
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