Press release
Rhodium Alloys Market: Know The Key Growth Drivers Developments and Innovations in 2019 and Coming Future
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.
Global Rhodium Alloys Market: Dynamics
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.
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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.
Global Rhodium Alloys Market: Segmentation
The global Rhodium Alloys market can be segmented based on application, alloy type and region.
On the basis of application, the global rhodium alloys market can be segmented as:
Glass Manufacturing
Autocatalyst
High temperature sensing instruments
Electrical and electronics
Others
On the basis of alloy type, rhodium alloys can be segmented as:
Platinum-rhodium alloys
Palladium-rhodium alloys
Iron –rhodium alloys
Others
Global Rhodium Alloys Market: Regional Outlook
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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Global Rhodium Alloys Market: Participants
Examples of some of the market participants identified across the value chain of global Rhodium Alloys market are:
Parekh Industries Ltd.
J & J Materials, Inc. – Neptune City, NJ
Nobilis Metals – Attleboro, MA
American Elements
Reade International Corp.,
Rhodeium Ferro Alloys Private Ltd
Merck KGaA
Pure Tech
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
Tailwinds and headwinds molding the market’s trajectory
Market segments based on products, technology, and applications
Prospects of each segment
Overall current and possible future size of the market
Growth pace of the market
Competitive landscape and key players’ strategies
The main aim of the report is to:
Enable key stakeholder’s in the market bet right on it
Understand the opportunities and pitfalls awaiting them
Assess the overall growth scope in the near term
Strategize effectively with respect to production and distribution
MRR.BIZ is a leading provider of strategic market research. Our vast repository consists research reports, data books, company profiles, and regional market data sheets. We regularly update the data and analysis of a wide-ranging products and services around the world. As readers, you will have access to the latest information on almost 300 industries and their sub-segments. Both large Fortune 500 companies and SMEs have found those useful. This is because we customize our offerings keeping in mind the specific requirements of our clients.
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