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Request Now !Rhenium (Re) is one of the rarest elements on the earth’s crust with the atomic number 75. It is utilized as an additive tungsten and molybdenum-based alloy to provide useful characteristics. Rhenium catalysts are highly resistant to poisons, such as nitrogen oxides, sulfur, and phosphorus, and are utilized for the hydrogenation of fine chemical substances. In addition, rhenium is utilized in nickel combinations to make single-gem turbine blades. It is broadly utilized as fibers for mass spectrographs. It is also utilized as an electrical contact material. These alloys are utilized for oven filaments, x-ray machines, and as an electrical contact material as it opposes wear and withstands arc corrosion. It possesses properties such as high strength, good ductility, cold working, and others.
Rhenium is increasingly used in various sectors, owing to its advantages such as ductility, strength, high melting point, stable chemical properties, and others. More than 80% of it is used in high temperature superalloys for the aircraft applications such as engine parts and turbine blades. It is also widely used in the equipment of the petrochemical refining industry. However, the variation in the price of rhenium across the globe is the key factor that restrains the growth of the market in the analyzed timeframe. One of the key superalloys producers, Cannon Muskegon, filed a patent to reduce the rhenium content in single crystal superalloys for turbine blades and vane applications. This is expected to increase the investment in R&D toward rhenium use in superalloys and other applications.
North America, Europe, and Asia-Pacific are the primary markets of rhenium. Rhenium makers bring down their production cost and provide increasingly high-quality products to users. Moreover, they are attempting to widen the uses of rhenium.Â
Rhenium is among the rarest metals in the world. It doesn't occur uncombined in nature or as a compound in a mineable mineral group. It is broadly spread across the earth's outside layer to the degree of about 0.001 parts per million. Commercial supply of rhenium is by extraction from the flue dusts of molybdenum smelters.
Increase in demand from the aerospace and defense industry is expected to drive the growth of the market during the forecast period. In addition, rise in demand from the healthcare industry is projected to fuel the market growth globally.Â
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Rhenium Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
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Key Market Players | China Molybdenum Co., Ltd., KGHM, KAZ Minerals PLC, LS-Nikko Copper Inc., American Elements, Freeport-McMoRan, Jinduicheng Molybdenum Co., Ltd., Antofagasta PLC, Rhenium Alloys, Inc., H Cross Company, Jiangxi Copper Corporation, Thompson Creek Metal Company Inc., Molymet S.A., Ultramet, China Rhenium Co., Ltd., Codelco, Grupo Mexico, Canon Muskegon |
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