Rhodium Market | Anglo American Platinum Ltd, Umicore SA

Rhodium Market was valued at USD 4,602.2 million in 2023 and is projected to reach USD 6,784.4 million by 2031, growing at a CAGR of 5.16% from 2024 to 2031. The need for rhodium is being driven by a number of reasons that are contributing to the growth of the market, including expanding chemical manufacturing, developing novel catalysts, and growing industrial applications.

Rhodium Market Top 10 Companies: -

Anglo American Platinum Ltd., Impala Platinum Holding Limited (Implats), Norilsk Nickel, Sibanye-Stillwater, Johnson Matthey, Heraeus Holding GmbH, Umicore SA, Tanaka Holdings Co., Ltd., Sumitomo Metal Mining Co., Ltd., Mitsui Mining and Smelting Co., Ltd.

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Rhodium Market Key Trends: -

Price Volatility: Rhodium prices have been highly volatile, reaching record highs in recent years. This volatility is driven by factors such as supply constraints, increasing demand from the automotive industry (especially for catalytic converters), and speculative trading.

Supply Constraints: Rhodium is a rare metal, and the majority of its supply comes as a by-product of platinum and nickel mining. Supply disruptions or production cuts in these industries can significantly impact rhodium availability and prices.

Automotive Demand: The automotive industry is the largest consumer of rhodium, primarily for catalytic converters in vehicles. Stringent emissions regulations worldwide have increased the demand for rhodium, particularly as automakers strive to meet stricter emission standards.