Rhodium Alloys Market Analysis:
Rhodium, a chemical element with symbol Rh, is a silvery-white, hard, corrosion-resistant, which can be used as a structuring material for glass manufacturing. It exhibits properties such as high melting point and enhanced corrosion resistance.It is naturally occurring, free metal, rarest, and most valuable precious metals. Alloys made from rhodium are used in manufacturing of LCD glass for flat panel displays and many more products. These alloy compositions are used in low-energy &low-voltage contact, thick &thin film circuits, thermocouples &furnaces, and electrodes. South Africais the largest producer of rhodium.
- The global market for rhodium alloys is severely impacted by the outbreak of the COVID-19 pandemic.
- The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns.
- Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
- Thus, insufficiency in raw material supply is expected to hamper the production rate of rhodium alloys, which negatively impact the market growth.
- However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.
Increasing demand for glass manufacturing, LCD glass panels, and auto-catalyzing is driving the demand for rhodium alloys.Increasing use of rhodium by automotive industry is expected to affect the market growth. Volatility in rhodium prices is one of the major restraining factorsof the market. Rhodium alloy market is still in development stage. As rhodium is one of the rarest metals in the world, supply struggles to catch up to demand. Around more than 50% of all rhodium comes from South African mines, in which distribution is difficult, especially with mining strikes in past years.
North America is at the top position to lead rhodium alloys market in terms of market size. Asia-Pacific, being a growth-oriented country in almost every sector, is growing at a significant rate. Latin America is trying to expand its market size in coming years.
Key benefits of the report:
- This study presents the analytical depiction of the global rhodium alloys industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global rhodium alloysmarket share.
- The current market is quantitatively analyzed to highlight the global rhodium alloysmarket growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global rhodium alloysmarket analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the rhodium alloys market research report:
- Which are the leading players active in the rhodium alloys market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Rhodium Alloys Market Report Highlights
By Industry Vertical
Key Market Players
Merck KGaA, Anglo American, J and J materials, Inc., Rhodium ferro Alloys private ltd., Parekh industries, American elements, Nobills metals, Pure tech, Reade international corp.