Rhenium Market by Application and Geography - Forecast and Analysis 2021-2025

  • Published: Jan 2021
  • Pages: 120
  • SKU: IRTNTR46596
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The rhenium market size has the potential to grow by USD 49.12 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 10.78%. 

This report provides a detailed analysis of the market by application (superalloys, catalysts, and others), geography (Americas, EMEA, and APAC), and key vendors. 

Market Overview

Rhenium-Market-Market-Size-2020-2025

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Market Competitive Analysis

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

 

  • American Elements
  • Avon Metals Ltd.
  • Freeport-McMoRan Inc.
  • H. Cross Co.
  • Heraeus Holding GmbH
  • KGHM Polska Miedz SA
  • MOLYMET SA
  • Rhenium Alloys Inc.
  • Ultramet
  • Umicore

 

The rhenium market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as rising demand in aerospace engines to achieve growth opportunities. However, factors such as fluctuations in the price of rhenium will challenge the growth of the market participants. 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.

Download a free sample of the rhenium market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies, 

This rhenium market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

Rhenium Market: Key Drivers and Trends

  • The rising demand for rhenium in aerospace engines is one of the primary growth factors for the rhenium market. 
  • The demand for this chemical element is high in the aviation industry since it boosts the efficiency of jet engines.
  • Rhenium’s ability to withstand high temperature and high chemical resistance is also driving its usage in jet-engine turbines and for shielding spaceships. 
  • Military forces across the globe copiously demand rhenium. With this growing demand, the rhenium market will witness considerable growth in the coming years
  • This growing usage of rhenium-188 in the healthcare industry will be one of the key trends that will gain traction in the rhenium market during the next few years.
  • Rhenium-188 is a high energy emitting radioisotope used in a wide variety of therapeutic applications such as in the preparation of radiopharmaceuticals for radionuclide therapy, oncology, interventional radiology, and cardiology.
  • Rhenium-188 is also used in the treatment and diagnosis of bone metastasis, rheumatoid arthritis, primary cancers, and tumors.
  • Several major countries like the US, UK, Germany, and China are focusing on incorporating rhenium in their medical facilities.

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Rhenium Market: Segmentation by Geography

Rhenium-Market-Market-Share-by-Region-2020-2025

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78% of the market’s growth will originate from the Americas during the forecast period. The US and Canada are the key markets for rhenium in the Americas. However, market growth in this region will be slower than the growth of the market in APAC.

The extensive usage of rhenium in a wide range of industrial segments is one of the prime factors that will facilitate the rhenium market growth in the Americas over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Rhenium Market: Segmentation by Application

Rhenium-Market-Market-Share-by-Application-2020-2025

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The rhenium market in the superalloy's application segment was the largest segment because superalloys are used to manufacture both jet engines and industrial gas turbine fan blades. Moreover, it has unique and exclusive combination properties such as the highest melting point after tungsten, high Young's modulus, high tensile strength, low coefficient of friction, and high density. As a result, rhenium has superior mechanical stability and rigidity because of which it is popularly used in nickel-based, molybdenum-based, tungsten-based, and copper-based superalloys.

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

 

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Rhenium Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • 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 the Americas, EMEA, and APAC
  • 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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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
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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
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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 growth will increase by $49.12 million during 2020-2025.
The rhenium market is expected to grow at a CAGR of 10.78% during 2020-2025.
Technavio has segmented the rhenium market by application (Superalloys, Catalysts, and Others) and geographic (Americas, EMEA, and APAC).
American Elements, Avon Metals Ltd., Freeport-McMoRan Inc., H. Cross Co., Heraeus Holding GmbH, KGHM Polska Miedz SA, MOLYMET SA, Rhenium Alloys Inc., Ultramet, Umicore are a few of the key vendors in the rhenium market.
Americas will register the highest growth rate of 78.16% among the other regions. Therefore, the rhenium market in Americas is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • Russian Federation
  • Germany
  • Canada
  • China
The key factors driving the rhenium market growth are:
  • Rising demand in aerospace engines
The rhenium 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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