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

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?

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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?

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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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