What is Rhodium Chloride Market?
Rhodium chloride is defined as the catalyst to prepare acetic acid. It is also used as a catalyst for reduction, oxidation of alkenes, hydration of acetylene and isomerization of alkenes. It is prepared from rhodium metal powder. It is used in various applications such as jewelry, electrical contacts, catalytic converters, paper chemicals and others. Increasing demand from gems and jewelry industry and electronics industry are likely to be the prime drivers for market growth.
The market study is being classified, by Application (Jewelry, Electrical contacts, Catalytic converters, Paper Chemicals and Others) and major geographies with country level break-up.
BASF SE (Germany), Evonik Industries AG (Germany), Johnson Matthey (United Kingdom), Heraeus (Germany), Stanford Advanced Materials (United States), Vineeth Chemicals (India), Sigma-Aldrich (United States), Shanxi Kaida Chemical (China) and KaiDa Technology Limited (United Kingdom) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Strem Chemicals, Inc. (United States), Springer Science+Business Media (Germany) and KaiDa Technology Limited (United Kingdom).
The market is highly fragmented with the presence of local players and regional players operating in the market. Various players operating in the market such as BASF SE (Germany), Evonik Industries AG (Germany), Johnson Matthey (United Kingdom), Heraeus (Germany), Stanford Advanced Materials (United States), among others. Research Analyst at AMA predicts that United Kingdom and Germany Vendors will contribute to the maximum growth of Global Rhodium Chloride market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Rhodium Chloride market by Type, Application and Region.
On the basis of geography, the market of Rhodium Chloride has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising demand from the jewelry industry, due to increase brilliance and improve their durability of gold items. For instance, according to IBEF, India’s gems and jewelry sector is one of the largest in the world contributing 29% to global jewelry consumption. Hence, it will affect the growth of the market in the future.
Market Trend
- Technology Advancement in Rhodium Chloride
Restraints
- Some of the major symptoms of rhodium chloride regarding the usage of rhodium chloride are redness, swelling, itching, and fluid-filled blisters.
Opportunities
- Increasing Demand from Emerging Market
Challenges
- Rising Prices of Raw Material
According to Government of Canada, “rhodium(III) chloride (CAS: 10049-07-7,20765-98-4,13569-65-8) is found on the following regulatory lists; "Canada Domestic Substances List (DSL)","Canada Ingredient Disclosure List (SOR/88-64)","Canada Toxicological Index Service -Workplace Hazardous Materials Information System - WHMIS (English)","US - Massachusetts Oil & Hazardous Material List","US – New Jersey Right to Know Hazardous Substances","US Toxic Substances Control Act (TSCA) - Inventory".
Key Target Audience
Rhodium Chloride Companies, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others