Summary
Rhodium Market Research Report Information by Type (Mineral Source and Recycling Source), By Application (Catalyst, Chemical Manufacturing, Electricals and Electronics, Jewelry and Others) and by Region (North America, Europe, Asia-Pacific, and Rest of the World) Market Forecast Till 2030
Market Overview
Over the forecast period of 2023-2030, the Rhodium is anticipated to expand at a compound annual growth rate (CAGR) of 6.6%. The rhodium market was valued at USD 29269.26 million in 2022 and is anticipated to reach USD 48189.58 million by 2030. Rhodium is a silvery-white metal that is highly reflective and resistant to corrosion. It is a member of the platinum group of metals.
The Rhodium market is anticipated to expand substantially as a result of the automotive sector's growing demand for the metal, which is utilized in catalytic converters to mitigate harmful emissions from vehicles. Rhodium is also employed as a catalyst in a variety of chemical reactions. Rhodium is also a critical component in the production of nitric acid, which is a critical component in the production of fertilizers and other compounds. Concurrently, the market growth of rhodium may be adversely affected by the high prices. Although the market for rhodium will be buoyed by the increasing demand for luxury jewelry in the years ahead.
Market segment insights
The global rhodium market has been divided into two categories: mining and recycling, as determined by its source. The mining segment dominated the global rhodium market in 2022, with a market value of USD 19468.94 million and a significant market share. It is anticipated that the compound annual growth rate (CAGR) will be 6.1% during the anticipated timeframe.
Catalyst, Alloying Agent, and Others comprise the global rhodium market, which has been segmented according to its application. The Catalyst segment, which was responsible for a significant portion of the global rhodium market in 2022, had a market value of USD 14734.34 million. It is anticipated that the compound annual growth rate (CAGR) will be 7.7% during the anticipated timeframe.
The global rhodium market has been segmented into the following categories: Automotive, Chemical, Glass, Jewelry, Electrical & Electronics, and Others. This segmentation is based on end-use. By retaining a significant market share with a market value of USD 24464.04 million in 2022, the Automotive segment fueled the global rhodium market. It is anticipated to experience a compound annual growth rate (CAGR) of 6.9% over the anticipated timeframe.
Regional Insights from Rhodium
The global rhodium market has been divided into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The global rhodium market is expected to be driven by the Asia-Pacific region for the duration of the forecast period. It is anticipated that the target region will provide a total incremental opportunity of USD 23636.98 million by the conclusion of 2030. The expansion of the market is facilitated by the presence of emerging nations in this region, including China, India, and Japan.
This market is dominated by the North American Rhodium market area, which is recognized for its extensive use as a catalyst in the automotive and chemical industries. North America's dominant position in the rhodium market is a result of the region's stringent environmental regulations and the high demand for rhodium catalysts in industrial processes and vehicles.
The automotive sector's pervasive adoption of catalytic converters and the strict emissions standards in Europe have resulted in the second-largest market share for Rhodium.
Major Players
The Rhodium market is dominated by a number of major actors, such as Sibanye-Stillwater, Anglo American Platinum Limited, Sibanye Gold Limited, Russian Platinum, Sharretts Plating Company, Northam Platinum, DF Goldsmith, Norilsk Nickel, Vale SA, Glencore, and others.
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Table of Contents
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY ................................................................................................................. 15
1.1 MARKET ATTRACTIVENESS ANALYSIS ............................................................................................................................ 17
1.2 RHODIUM MARKET, BY SOURCE ...................................................................................................................................... 18
1.3 RHODIUM MARKET, BY APPLICATION .............................................................................................................................. 19
1.4 RHODIUM MARKET, BY END-USE ..................................................................................................................................... 20
1.5 RHODIUM MARKET, BY REGION ....................................................................................................................................... 21
2 MARKET INTRODUCTION ............................................................................................................. 22
2.1 DEFINITION ....................................................................................................................................................................... 22
2.2 SCOPE OF THE STUDY ...................................................................................................................................................... 22
2.3 MARKET STRUCTURE ....................................................................................................................................................... 22
3 RESEARCH METHODOLOGY ........................................................................................................ 23
3.1 DATA MINING .................................................................................................................................................................... 23
3.2 SECONDARY RESEARCH ................................................................................................................................................... 24
3.3 PRIMARY RESEARCH ........................................................................................................................................................ 24
3.3.1 PRIMARY INTERVIEWS AND INFORMATION GATHERING PROCESS .......................................................................... 25
3.3.2 BREAKDOWN OF PRIMARY RESPONDENTS ................................................................................................................ 25
3.4 FORECASTING TECHNIQUES ............................................................................................................................................ 26
3.4.1 RESEARCH METHODOLOGY FOR MARKET SIZE ESTIMATION .................................................................................... 27
3.4.2 BOTTOM-UP APPROACH .............................................................................................................................................. 28
3.4.3 TOP-DOWN APPROACH ................................................................................................................................................ 28
3.4.4 DATA TRIANGULATION ................................................................................................................................................ 29
3.4.5 VALIDATION .................................................................................................................................................................. 29
4 MARKET DYNAMICS ...................................................................................................................... 30
4.1 INTRODUCTION ................................................................................................................................................................. 30
4.2 DRIVERS ............................................................................................................................................................................ 31
4.2.1 INCREASING DEMAND FOR RHODIUM FROM AUTOMOBILE SECTOR ........................................................................ 31
4.2.2 TECHNOLOGICAL ADVANCEMENTS WILL POSITIVELY IMPACT THE RHODIUM MARKET ......................................... 32
4.3 RESTRAINTS ..................................................................................................................................................................... 33
4.3.1 HIGH PRICES CAN NEGATIVELY INFLUENCE THE MARKET GROWTH OF RHODIUM ................................................. 33
4.4 OPPORTUNITIES ............................................................................................................................................................... 34
4.4.1 RISING DEMAND FOR LUXURY JEWELRY .................................................................................................................... 34
5 MARKET FACTOR ANALYSIS ........................................................................................................ 35
5.1 SUPPLY/VALUE CHAIN ANALYSIS .................................................................................................................................... 35
5.2 PORTER FIVE FORCES ...................................................................................................................................................... 36
5.2.1 THREAT OF NEW ENTRANTS: ...................................................................................................................................... 36
5.2.2 BARGAINING POWER OF SUPPLIERS: .......................................................................................................................... 37
5.2.3 BARGAINING POWER OF BUYERS ................................................................................................................................ 37
5.2.4 THREAT OF SUBSTITUTES: .......................................................................................................................................... 38
5.2.5 INDUSTRY RIVALRY ...................................................................................................................................................... 38
5.3 AVERAGE PRICE OF RHODIUM (USD/T OZ) ...................................................................................................................... 39
5.4 IMPACT OF COVID ON RHODIUM MARKET ...................................................................................................................... 40
6 GLOBAL RHODIUM MARKET, BY TYPE ....................................................................................... 42
6.1 OVERVIEW ......................................................................................................................................................................... 42
6.1.1 RHODIUM: MARKET ESTIMATES & FORECAST BY SOURCE, 2019–2030.................................................................... 43
6.1.2 RHODIUM: MARKET ESTIMATES & FORECAST BY SOURCE, 2019–2030.................................................................... 44
6.2 MINING .............................................................................................................................................................................. 44
6.3 RECYCLING ....................................................................................................................................................................... 44
7 GLOBAL RHODIUM MARKET, BY APPLICATION ......................................................................... 45
7.1 OVERVIEW ......................................................................................................................................................................... 45
7.1.1 RHODIUM: MARKET ESTIMATES & FORECAST BY APPLICATION, 2019–2030 ........................................................... 46
7.1.2 RHODIUM: MARKET ESTIMATES & FORECAST BY APPLICATION, 2019–2030 ........................................................... 47
7.2 CATALYST ......................................................................................................................................................................... 47
7.3 ALLOYING AGENT ............................................................................................................................................................. 48
7.4 OTHERS ............................................................................................................................................................................. 48
8 GLOBAL RHODIUM MARKET, BY END USE ................................................................................. 49
8.1 OVERVIEW ......................................................................................................................................................................... 49
8.1.1 RHODIUM: MARKET ESTIMATES & FORECAST BY END USE, 2019–2030 ................................................................... 50
8.1.2 RHODIUM: MARKET ESTIMATES & FORECAST BY END USE, 2019–2030 ................................................................... 52
8.2 AUTOMOTIVE .................................................................................................................................................................... 52
8.3 CHEMICAL ......................................................................................................................................................................... 52
8.4 GLASS ................................................................................................................................................................................ 52
8.5 JEWELRY ........................................................................................................................................................................... 52
8.6 ELECTRICAL & ELECTRONICS ........................................................................................................................................... 53
8.7 OTHERS ............................................................................................................................................................................. 53
9 GLOBAL RHODIUM MARKET, BY REGION .................................................................................. 54
9.1 NORTH AMERICA .............................................................................................................................................................. 56
9.1.1 US .................................................................................................................................................................................. 58
9.1.2 CANADA ........................................................................................................................................................................ 60
9.2 EUROPE ............................................................................................................................................................................. 62
9.2.1 GERMANY ..................................................................................................................................................................... 64
9.2.2 UK ................................................................................................................................................................................. 66
9.2.3 FRANCE......................................................................................................................................................................... 68
9.2.4 RUSSIA .......................................................................................................................................................................... 69
9.2.5 SPAIN ............................................................................................................................................................................ 71
9.2.6 ITALY ............................................................................................................................................................................. 73
9.2.7 REST OF EUROPE .......................................................................................................................................................... 74
9.3 ASIA-PACIFIC .................................................................................................................................................................... 77
9.3.1 CHINA ........................................................................................................................................................................... 79
9.3.2 JAPAN ........................................................................................................................................................................... 81
9.3.3 INDIA ............................................................................................................................................................................. 82
9.3.4 SOUTH KOREA .............................................................................................................................................................. 84
9.3.5 AUSTRALIA & NEW ZEALAND ....................................................................................................................................... 86
9.3.6 REST OF ASIA-PACIFIC ................................................................................................................................................. 87
9.4 LATIN AMERICA ................................................................................................................................................................ 90
9.4.1 BRAZIL .......................................................................................................................................................................... 92
9.4.2 MEXICO ......................................................................................................................................................................... 94
9.4.3 ARGENTINA .................................................................................................................................................................. 95
9.4.4 REST OF LATIN AMERICA ............................................................................................................................................. 97
9.5 MIDDLE EAST & AFRICA .................................................................................................................................................... 100
9.5.1 SOUTH AFRICA ............................................................................................................................................................. 102
9.5.2 GCC COUNTRIES ........................................................................................................................................................... 104
9.5.3 REST OF MIDDLE EAST & AFRICA ................................................................................................................................ 105
10 COMPETITIVE LANDSCAPE .......................................................................................................... 108
10.1 COMPETITION ANALYSIS ................................................................................................................................................. 108
11 COMPANY PROFILES .................................................................................................................... 109
11.1 ALFA AESAR ...................................................................................................................................................................... 109
11.1.1 COMPANY OVERVIEW .................................................................................................................................................. 109
11.1.2 FINANCIAL OVERVIEW ................................................................................................................................................. 109
11.1.3 PRODUCTS OFFERING .................................................................................................................................................. 109
11.1.4 SWOT ANALYSIS ........................................................................................................................................................... 110
11.1.5 KEY STRATEGIES .......................................................................................................................................................... 111
11.2 AMERICAN ELEMENTS ...................................................................................................................................................... 112
11.2.1 COMPANY OVERVIEW .................................................................................................................................................. 112
11.2.2 PRODUCTS .................................................................................................................................................................... 112
11.2.3 FINANCIAL OVERVIEW ................................................................................................................................................. 112
11.2.4 SWOT ANALYSIS ........................................................................................................................................................... 113
11.2.5 KEY STRATEGIES .......................................................................................................................................................... 113
11.3 CHIMET S.P.A .................................................................................................................................................................... 114
11.3.1 COMPANY OVERVIEW .................................................................................................................................................. 114
11.3.2 PRODUCTS .................................................................................................................................................................... 114
11.3.3 FINANCIAL OVERVIEW ................................................................................................................................................. 115
11.3.4 SWOT ANALYSIS ........................................................................................................................................................... 116
11.3.5 KEY STRATEGIES .......................................................................................................................................................... 116
11.4 J & J MATERIALS INC ....................................................................................................................................................... 117
11.4.1 COMPANY OVERVIEW .................................................................................................................................................. 117
11.4.2 PRODUCTS .................................................................................................................................................................... 117
11.4.3 FINANCIAL OVERVIEW ................................................................................................................................................. 117
11.4.4 J&J MATERIALS CORP.: SWOT ANALYSIS ................................................................................................................... 117
11.4.5 KEY STRATEGIES .......................................................................................................................................................... 117
11.5 NOBILIS METALS ............................................................................................................................................................... 118
11.5.1 COMPANY OVERVIEW .................................................................................................................................................. 118
11.5.2 PRODUCTS .................................................................................................................................................................... 118
11.5.3 FINANCIAL OVERVIEW ................................................................................................................................................. 118
11.5.4 SWOT ANALYSIS ........................................................................................................................................................... 119
11.5.5 KEY STRATEGIES .......................................................................................................................................................... 119
11.6 NORILSK NICKEL ............................................................................................................................................................... 120
11.6.1 COMPANY OVERVIEW .................................................................................................................................................. 120
11.6.2 PRODUCTS .................................................................................................................................................................... 120
11.6.3 FINANCIAL OVERVIEW ................................................................................................................................................. 121
11.6.4 SWOT ANALYSIS ........................................................................................................................................................... 122
11.6.5 KEY STRATEGIES .......................................................................................................................................................... 122
11.7 PAREKH INDUSTRIES LTD ................................................................................................................................................ 123
11.7.1 COMPANY OVERVIEW .................................................................................................................................................. 123
11.7.2 PRODUCTS .................................................................................................................................................................... 123
11.7.3 FINANCIAL OVERVIEW ................................................................................................................................................. 123
11.7.4 KEY DEVELOPMENTS ................................................................................................................................................... 124
11.7.5 SWOT ANALYSIS ........................................................................................................................................................... 124
11.7.6 KEY STRATEGIES .......................................................................................................................................................... 124
11.8 SIBANYE-STILLWATER ...................................................................................................................................................... 125
11.8.1 COMPANY OVERVIEW .................................................................................................................................................. 125
11.8.2 FINANCIAL OVERVIEW ................................................................................................................................................. 125
11.8.3 SWOT ANALYSIS ........................................................................................................................................................... 126
11.8.4 KEY STRATEGIES .......................................................................................................................................................... 126
11.9 UMICORE ........................................................................................................................................................................... 127
11.9.1 COMPANY OVERVIEW .................................................................................................................................................. 127
11.9.2 PRODUCTS AND APPLICATIONS .................................................................................................................................. 127
11.9.3 FINANCIAL OVERVIEW ................................................................................................................................................. 128
11.9.4 SWOT ANALYSIS ........................................................................................................................................................... 129
11.9.5 KEY STRATEGIES .......................................................................................................................................................... 130
11.10 NORTHAM PLATINUM HOLDINGS LIMITED ..................................................................................................................... 131
11.10.1 COMPANY OVERVIEW .................................................................................................................................................. 131
11.10.2 PRODUCTS AND APPLICATIONS .................................................................................................................................. 131
11.10.3 FINANCIAL OVERVIEW ................................................................................................................................................. 132
11.10.4 SWOT ANALYSIS ........................................................................................................................................................... 133
11.10.5 KEY STRATEGIES .......................................................................................................................................................... 133
11.11 ANGLO AMERICAN PLC..................................................................................................................................................... 134
11.11.1 COMPANY OVERVIEW .................................................................................................................................................. 134
11.11.2 PRODUCTS AND APPLICATIONS .................................................................................................................................. 134
11.11.3 FINANCIAL OVERVIEW ................................................................................................................................................. 135
11.11.4 SWOT ANALYSIS ........................................................................................................................................................... 136
11.11.5 KEY STRATEGIES .......................................................................................................................................................... 136
