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Rhenium Market by Application and Geography - Forecast and Analysis 2022-2026

  • Published: May 2022
  • Pages: 132
  • SKU: IRTNTR46596
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The rhenium market share is expected to increase to USD 80.27 million from 2021 to 2026, at a CAGR of 10.12%.

This rhenium market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers rhenium market segmentation by:

  • Application - Superalloys, Catalysts, and Others
  • Geography - North America, Europe, APAC, South America, and Middle East and Africa

The rhenium industry research report also covers details of vendors such as American Elements, ESPI Metals, Freeport McMoRan Inc., H. Cross Co., Heraeus Holding GmbH, Hoganas AB, KGHM Polska Miedz SA, Leading Edge Metals and Alloys Inc., MOLYMET SA, Navoi Mining and Metallurgical Co., Nova Resources B.V., Ossila Ltd., Remet UK Ltd., Rhenium Alloys Inc., Ultramet, and Umicore NV among others.

What will the Rhenium Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Rhenium Market Size for the Forecast Period and Other Important Statistics

 

Rhenium Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The rising demand for aerospace engines is notably driving the rhenium market growth, although factors such as the fluctuations in the price of rhenium may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the rhenium industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Rhenium Market Driver

  • One of the key factor driving growth in the rhenium market is the rising demand for aerospace engines.
  • Rhenium is extensively used in the aircraft engines such as Boeing 787 Dreamliner and Airbus A380. It is highly in demand in the aviation industry as it is used to boost the efficiency of jet engines. The aviation industry is currently the largest consumer of rhenium.
  • The very high melting point, hardness, and scratch resistance properties are fostering the demand for rhenium in the aviation industry. Rhenium is also used in jet-engine turbines and for shielding spaceships. This is because of its ability to withstand very high temperatures and high chemical resistance.
  • The US is the major producer of rhenium, followed by Poland and China.
  • The high demand for rhenium is mainly from the military forces of different countries all over the world. Thus, the use of rhenium in the aviation industry will drive the global rhenium market during the forecast period.

Key Rhenium Market Trend

  • The growing use of rhenium-188 in the healthcare industry is a rhenium market trend that is expected to have a positive impact in the coming years.
  • Rhenium-188 is a high-energy emitting radioisotope obtained from the tungsten-188 generator. It is used in a wide variety of therapeutic applications such as nuclear medicine, preparation of radiopharmaceuticals for radionuclide therapy, oncology, interventional radiology, and cardiology.
  • Rhenium-188 is used for the production of phosphonates, antibodies, peptides, and lipiodol. The high energy generated from the beta-emission of rhenium-188 is effective in treating tumors.
  • The effective use of rhenium-188 for medical purposes is still in its nascent stages in many countries. Therefore, the use of rhenium-188 in the healthcare industry is expected to increase, which will foster the growth of the global rhenium market.

Key Rhenium Market Challenge

  • The fluctuations in the price of rhenium will be a major challenge for the rhenium market during the forecast period.
  • The prices of rhenium are currently fluctuating because of the demand-supply gap.
  • The demand for rhenium is increasing because of the growth in the aviation, automotive, and chemical industries. However, the increasing demand for rhenium is affected by the unavailability of resources with time, which creates the supply gap, and results in fluctuations in the prices of rhenium.
  • The price of rhenium decreased by 23%, from $1,630 to $1,256 per kilograms, between March 2020 and April 2021. This was due to decreased demand from key industries, continued low prices, as well as the COVID-19 pandemic, which caused several rhenium recyclers and primary production facilities to cease rhenium extraction and exploration activities and focus on more-profitable metals.
  • Therefore, the fluctuating prices of rhenium will impede the growth in the global rhenium market.

This rhenium market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global rhenium market as a part of the global diversified metals and mining market within the global materials market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the rhenium market during the forecast period.

Who are the Major Rhenium Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • American Elements
  • ESPI Metals
  • Freeport McMoRan Inc.
  • H. Cross Co.
  • Heraeus Holding GmbH
  • Hoganas AB
  • KGHM Polska Miedz SA
  • Leading Edge Metals and Alloys Inc.
  • MOLYMET SA
  • Navoi Mining and Metallurgical Co.
  • Nova Resources B.V.
  • Ossila Ltd.
  • Remet UK Ltd.
  • Rhenium Alloys Inc.
  • Ultramet
  • Umicore NV

 

This statistical study of the rhenium market encompasses successful business strategies deployed by the key vendors. The rhenium market is fragmented and the vendors are deploying growth strategies such as focusing on distinguishing their offerings through clear and unique value propositions to compete in the market.

Product Insights and News

  • hcrosscompany.com - The company offers rhenium which has melting point of 3180 degree celsius.

  • hcrosscompany.com - The unified segment offers various products such as refractory metals and alloys, precious metals and alloys, other metals and alloys, lamp seal products, and typical dimensions and tolerances.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The rhenium market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Rhenium Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the rhenium market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Rhenium Market?

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65% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for rhenium in North America. Market growth in this region will be slower than the growth of the market in the South American, APAC and MEA regions.

The growing use of rhenium in the aerospace and defense industry will facilitate the rhenium market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic adversely affected the automotive industry in the region, primarily owing to the closure of several automotive and industrial gas manufacturing plants in the US. The pandemic spread widely across North America, especially in the US. However, due to the availability of COVID-19 vaccines, the number of COVID-19 cases decreased considerably in North America by the end of 2020, and various vendors resumed their manufacturing and refining activities of rhenium. 

What are the Revenue-generating Application Segments in the Rhenium Market?

To gain further insights on the market contribution of various segments Request for a FREE sample

The rhenium market share growth by the superalloys segment will be significant during the forecast period. The global rhenium market in the super alloys application segment was the largest segment, mainly because super alloys are used to manufacture both jet engines and industrial gas turbine fan blades. The growth of the aviation and automotive industries is increasing the demand for rhenium worldwide. Countries such as Chile, the US, China, and Poland are the key producers of rhenium. In rockets, rhenium super alloys are used in the production of thrusters, chambers, and nozzles, wherein their high resistance to heat and stability is crucial.

This report provides an accurate prediction of the contribution of all the segments to the growth of the rhenium market size and actionable market insights on post COVID-19 impact on each segment.

 

Rhenium Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 10.12%

Market growth 2022-2026

$ 80.27 million

Market structure

Fragmented

YoY growth (%)

12.38

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 65%

Key consumer countries

US, Canada, China, Russia, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

American Elements, ESPI Metals, Freeport McMoRan Inc., H. Cross Co., Heraeus Holding GmbH, Hoganas AB, KGHM Polska Miedz SA, Leading Edge Metals and Alloys Inc., MOLYMET SA, Navoi Mining and Metallurgical Co., Nova Resources B.V., Ossila Ltd., Remet UK Ltd., Rhenium Alloys Inc., Ultramet, and Umicore NV

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Rhenium Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive rhenium market growth during the next five years
  • Precise estimation of the rhenium market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the rhenium industry across North America, Europe, APAC, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of rhenium market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 24: Chart on Application - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 26: Chart on Comparison by Application
      • Exhibit 27: Data Table on Comparison by Application
    • 5.3 Superalloys - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Superalloys - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Superalloys - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Superalloys - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Superalloys - Year-over-year growth 2021-2026 (%)
    • 5.4 Catalysts - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Catalysts - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Catalysts - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Catalysts - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Catalysts - Year-over-year growth 2021-2026 (%)
    • 5.5 Others - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 5.6 Market opportunity by Application
      • Exhibit 40: Market opportunity by Application ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 44: Chart on Geographic comparison
      • Exhibit 45: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 APAC - Market size and forecast 2021-2026
      • Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 Russia - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Russia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Russia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Russia - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Russia - Year-over-year growth 2021-2026 (%)
    • 7.10 China - Market size and forecast 2021-2026
      • Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.11 Canada - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.12 Germany - Market size and forecast 2021-2026
      • Exhibit 82: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 86: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 89: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 90: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 91: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 92: Matrix on vendor position and classification
            • 10.3 American Elements
              • Exhibit 93: American Elements - Overview
              • Exhibit 94: American Elements - Product / Service
              • Exhibit 95: American Elements - Key offerings
            • 10.4 H. Cross Co.
              • Exhibit 96: H. Cross Co. - Overview
              • Exhibit 97: H. Cross Co. - Product / Service
              • Exhibit 98: H. Cross Co. - Key offerings
            • 10.5 Heraeus Holding GmbH
              • Exhibit 99: Heraeus Holding GmbH - Overview
              • Exhibit 100: Heraeus Holding GmbH - Product / Service
              • Exhibit 101: Heraeus Holding GmbH - Key offerings
            • 10.6 Hoganas AB
              • Exhibit 102: Hoganas AB - Overview
              • Exhibit 103: Hoganas AB - Product / Service
              • Exhibit 104: Hoganas AB - Key offerings
            • 10.7 KGHM Polska Miedz SA
              • Exhibit 105: KGHM Polska Miedz SA - Overview
              • Exhibit 106: KGHM Polska Miedz SA - Business segments
              • Exhibit 107: KGHM Polska Miedz SA - Key offerings
              • Exhibit 108: KGHM Polska Miedz SA - Segment focus
            • 10.8 MOLYMET SA
              • Exhibit 109: MOLYMET SA - Overview
              • Exhibit 110: MOLYMET SA - Product / Service
              • Exhibit 111: MOLYMET SA - Key offerings
            • 10.9 Remet UK Ltd.
              • Exhibit 112: Remet UK Ltd. - Overview
              • Exhibit 113: Remet UK Ltd. - Product / Service
              • Exhibit 114: Remet UK Ltd. - Key offerings
            • 10.10 Rhenium Alloys Inc.
              • Exhibit 115: Rhenium Alloys Inc. - Overview
              • Exhibit 116: Rhenium Alloys Inc. - Product / Service
              • Exhibit 117: Rhenium Alloys Inc. - Key offerings
            • 10.11 Ultramet
              • Exhibit 118: Ultramet - Overview
              • Exhibit 119: Ultramet - Product / Service
              • Exhibit 120: Ultramet - Key offerings
            • 10.12 Umicore NV
              • Exhibit 121: Umicore NV - Overview
              • Exhibit 122: Umicore NV - Business segments
              • Exhibit 123: Umicore NV - Key news
              • Exhibit 124: Umicore NV - Key offerings
              • Exhibit 125: Umicore NV - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 126: Inclusions checklist
                • Exhibit 127: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 128: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 129: Research methodology
                • Exhibit 130: Validation techniques employed for market sizing
                • Exhibit 131: Information sources
              • 11.5 List of abbreviations
                • Exhibit 132: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              The rhenium market market growth will increase by $$ 80.27 mn during 2023-2026.
              The rhenium market market is expected to grow at a CAGR of 10.12% during 2023-2026.
              Technavio has segmented the rhenium market market by application (Superalloys, Catalysts, and Others) and geography (North America, Europe, APAC, South America, and Middle East and Africa).
              American Elements, ESPI Metals, Freeport McMoRan Inc., H. Cross Co., Heraeus Holding GmbH, Hoganas AB, KGHM Polska Miedz SA, Leading Edge Metals and Alloys Inc., MOLYMET SA, Navoi Mining and Metallurgical Co., Nova Resources B.V., Ossila Ltd., Remet UK Ltd., Rhenium Alloys Inc., Ultramet, Umicore NV are a few of the key vendors in the rhenium market market.
              North America will register the highest growth rate of 65% among the other regions. Therefore, the rhenium market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              • US
              • Canada
              • China
              • Russia
              • Germany
              The key factors driving the rhenium market market growth are:
              • rising demand for aerospace engines

                Rhenium is extensively used in the aircraft engines such as Boeing 787 Dreamliner and Airbus A380. It is highly in demand in the aviation industry as it is used to boost the efficiency of jet engines. The aviation industry is currently the largest consumer of rhenium. The very high melting point, hardness, and scratch resistance properties are fostering the demand for rhenium in the aviation industry. Rhenium is also used in jet-engine turbines and for shielding spaceships. This is because of its ability to withstand very high temperatures and high chemical resistance. The US is the major producer of rhenium, followed by Poland and China. For instance, in September 2021, CFM International and Air China signed a Letter of Intent (LoI) to strengthen the maintenance and repair capabilities for LEAP engines in its joint venture Sichuan Services Aero-engine Maintenance (SSAMC). The LoI will build up LEAP engine MRO capacity, thereby enabling SSAMC to deliver better services to domestic and foreign customers and help it to become a competitive aero-engine maintenance base globally. The high demand for rhenium is mainly from the military forces of different countries all over the world. Thus, the use of rhenium in the aviation industry will drive the global rhenium market during the forecast period.


              • Growing use of rhenium-188 in the healthcare industry

                Rhenium-188 is a high-energy emitting radioisotope obtained from the tungsten-188 generator. It is used in a wide variety of therapeutic applications such as nuclear medicine, preparation of radiopharmaceuticals for radionuclide therapy, oncology, interventional radiology, and cardiology. In addition, rhenium-188 is used for the treatment and diagnosis of diseases such as bone metastasis, rheumatoid arthritis, and primary cancers. Rhenium-188 is used for the production of phosphonates, antibodies, peptides, and lipiodol. The high energy generated from the beta-emission of rhenium-188 is effective in treating tumors. Furthermore, the effective use of rhenium-188 for medical purposes is still in its nascent stages in many countries. It is primarily used in medical facilities in countries such as the US, the UK, Germany, and China. For instance, in December 2021, OncoBeta GmbH, a medical device company, announced that it had received approval for the phase IV clinical study of Rhenium-SCT and to evaluate the response rate of patients with non-melanoma skin cancer. Therefore, the use of rhenium-188 in the healthcare industry is expected to increase, which will foster the growth of the global rhenium market during the forecast period.


              The rhenium market market vendors should focus on grabbing business opportunities from the superalloys segment as it accounted for the largest market share in the base year.
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