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Rhodium Alloys Market Segmented By alloy type that is Platinum-rhodium alloys, Palladium-rhodium alloys, Iron –rhodium alloys used in Glass Manufacturing, Autocatalyst, High temperature sensing instruments, Electrical and electronics.
The major application of rhodium alloys is as a structuring material for the manufacture of glass. Therefore, the components such as thermocouples, forehearth and furnace uses these alloys to protect from the damage by molten glass. Rhodium alloys also find major application in automobile catalytic convertors.
Rhodium alloys have high melting point and good corrosion resistance therefore are also being used to make laboratory equipment such as high temperature sensors. Platinum rhodium alloy is the most common type of alloy used for the ceramic protection in glass manufacturing.
Because of the two metal alloy’s high temperature, structural strength and corrosion resistance is improved which protects from the degradation through molten glass. Rhodium alloys also plays an important role in the automotive industry. Rhodium alloys are used in the autocatalysis and are effective at converting harmful engine emissions such as hydrocarbons, nitrogen oxides (NOx) and carbon monoxide into less harmful gases.
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Drivers
The growing demand for glass handling and forming equipment such as thermocouple, glass stirrers for homogenization, laser glass melters anticipated to drive the demand for rhodium alloys. Rhodium alloys are also used extensively in the manufacturing of high melting LCD glass for flat panel displays, glass-ceramics for cooker hobs and many more products. Thus driving the global rhodium alloys market growth.
Moreover, there has also been a growing demand for high temperature sensing devices/equipment for the research and development across a number of end use industries and laboratories thus creating traction in the global rhodium alloys market.
The stringent government regulations pertaining to vehicle emissions and exhaust are also anticipated to drive the demand for rhodium alloys. Rhodium alloys plays an important role in the auto catalysis. They help to convert harmful gases such as carbon monoxide and other oxides into less harmful gases. Thus anticipated to grow significantly over the forecast period.
Restraints
The major factor restraining the growth of the global rhodium alloys market is the higher cost associated with the use of precious metals. Therefore alternative methods to alloying such as doping has been increasingly preferred in order to reduce the cost from precious metals.
Trends
The manufacturers are focusing on reduction of cost for rhodium alloys. Additionally, many manufacturers are also providing new combination of rhodium alloys which can be used over niche and tailored specific applications.
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North America is anticipated to dominate the global market for rhodium alloys. The region has a significant base for the high temperature sensing equipment and also for the glass forming and calibration devices thus driving the market growth. The growing research and developments in regions such as North America, Europe, Japan is anticipated to drive the demand for rhodium alloys for the laboratory equipment.
Asia Pacific region is also anticipated to expand at a relatively higher growth rate owing to the rapid growth in the glass making industry. Middle East and Africa is anticipated to expand at significantly over the forecast period. South Africa is anticipated to remain a lucrative country in the Middle East and Africa rhodium alloys market. Latin America on the other hand is anticipated to expand at a relatively slower rate over the forecast period.
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Examples of some of the market participants identified across the value chain of global Rhodium Alloys market are:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
