sales@infinitymarketresearch.com

Rhodium Catalyst Market


Rhodium Catalyst Market Global Industry Analysis and Forecast (2024-2032) By Product Type (Homogeneous Rhodium Catalysts, Heterogeneous Rhodium Catalysts), By Application (Automotive (Catalytic Converters), Chemical Manufacturing (Hydrogenation, Oxidation, Hydroformylation), Pharmaceutical Production, Petrochemical Refining, Others (Environmental and Specialty Applications)), By End-User Industry (Automotive, Chemical, Pharmaceutical, Energy and Power, Others) and Region


January 2025

Chemicals and Materials

Pages: 138

ID: IMR1637

PDF Available
Word Available
Excel Available


 

Rhodium Catalyst Market Synopsis

 

Rhodium Catalyst Market Size Was Valued at USD 1.86 Billion in 2023, and is Projected to Reach USD 3.0 Billion by 2032, Growing at a CAGR of 5.48% From 2024-2032.

 

This report forms part of the global catalyst industry and focuses solely on the Rhodium Catalyst market because of the metal’s unmatched ability to be used effectively for specific high-end applications. Rhodium catalysts are famous for promoting reactions like hydrogenation, oxidation, and hydroformylation making it’s irreplaceable in automotive, pharmaceuticals, petrochemical industries. Higher thermal stability, less sensitivity to poisoning and high efficiency in protecting the atmosphere against toxic emissions has placed rhodium catalysts’ at the centre of catalytic converters assisting meeting stringent environmental compliant standards.The automotive industry uses high amounts of rhodium catalysts especially for the reduction of emission products of nitrous oxide, hydrocarbons, and carbon monoxide using catalytic converters. Higher usage of motor vehicles globally, and stricter emission standards, should continue to underpin the market for rhodium catalysts. Furthermore, increase of chemical and pharmaceutical industries particularly in the utilization of Rhodium for synthesis reactions fortify market prospects. Although, growth of the market is somewhat hindered by the fact that rhodium is a rare element and has a steep extraction process.

 

Geographically, North America and Europe demand a large share because of their conventional vehicles’ markets and stringent environmental laws. At the same time, Asia-Pacific is identified as a rising region for growth due to increasing industrialization and development of automotive industry in countries such as China and India. New opportunities for recycling of the catalyst and research in new rhodium catalyst formulations that may increase efficiency and reduce costs are probable to provide more growth opportunities for the market in the near future.

 

Rhodium Catalyst Market Outlook, 2023 and 2032: Future Outlook

 

Rhodium Catalyst Market Overview

 

Rhodium Catalyst Market Trend Analysis

 

Trend: Increasing Demand for Fuel-Efficient and Low-Emission Vehicles

 

A key driver at the Rhodium Catalyst Market is the increase in the usage of efficient and environmentally friendly automobiles. While global governments are tightening the emissions control standards to reduce impacts of climate change, auto industry is seeking newer and better technologies in catalytic converters. Rhodium catalysts are very useful in decreasing emissions from Internal Combustion Engine with a particular focus on automobiles since they are applied in Catalytic Converters to mitigate poisonous substance. Although the trends towards electric and hybrid vehicles and powertrains are lessening the demand for traditional catalytic converters, the use of high performing rhodium catalysts in fuel-efficient vehicle technologies continues to increase continuously.

 

Driver: Stringent Environmental Regulations and Emission Standards

 

The strongest force behind the Rhodium Catalyst Market is the increase in stringency of environmental and emission control measures in regions including Europe, North America, and parts of Asia. Governments around the globe are imposing stricter emission standards for motor vehicles, thereby establishing high demand for catalysts that can minimize the production of response agents such as nitrogen oxides and carbon monoxide. The automotive industry needs these regulatory rhodium supplies and demand, coupled with the high catalytic activity of this metal, allows for continued market expansion.

 

Restraint: High Cost and Limited Availability of Rhodium

 

One restriction for the Rhodium Catalyst Market is the availability and cost of Rhodium. Rhodium is one of the common yet rare precious metals, so the cost of mining it as well as the process of extraction makes rhodium a costly ingredient for the manufacturing of Rh catalysts. As a result of sharp supply and demand fluctuations, geopolitics and other factors that influence rhodium prices, the affordability of this metal might not be stable, and thus can slow down the number of applications of the technology in industries and regions where costs are a strong consideration. This becomes an economic limitation that affects market development as well as challenging manufacturers to look for other options or even methods of reusing the raw rhodium.

 

Opportunity: Advancements in Catalyst Recycling and Regeneration Technologies

 

One of the new eligible segments of the Rhodium Catalyst Market is the development of new capacities for catalyst recycling and regeneration. As the requirements in the automotive industry for rhodium as a component in the catalysts increases the output for improved and cheap solutions. Technological advancements in catalyst recycling removes some of the rhodium from used catalysts for recycling and re-use thus cutting down on the strains resulting from limited supply. Further, the advancements and research in enhancing the life cycle and efficiency of rhodium catalysts present further opportunities in growth, especially in organizations desiring to maximize their application of this rare metal but experiencing efficiency, cost and wastage challenges.

 

Rhodium Catalyst Market Segment Analysis:

 

Rhodium Catalyst Market Segmented on the basis of By Product Type, By Application and By End-User Industry.

 

By Product Type

 

o   Homogeneous Rhodium Catalysts

o   Heterogeneous Rhodium Catalysts

 

By Application

 

o   Automotive (Catalytic Converters)

o   Chemical Manufacturing (Hydrogenation, Oxidation, Hydroformylation)

o   Pharmaceutical Production

o   Petrochemical Refining

o   Others (Environmental and Specialty Applications)

 

By End User

 

o   Automotive

o   Chemical

o   Pharmaceutical

o   Energy and Power

o   Others

 

By Region

 

o   North America (U.S., Canada, Mexico)

o   Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)

o   Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)

o   Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)

o   Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)

o   South America (Brazil, Argentina, Rest of SA)

 

By Product Type, Homogeneous Rhodium Catalysts segment is expected to dominate the market during the forecast period

 

The Rhodium Catalyst Market is segmented into two primary product types like Meet the homogeneous rhodium catalysts and heterogeneous rhodium catalysts. Liquid-phase reactions utilise homogeneous rhodium catalysts because the catalyst and the reacting species are in the same phase and on this account, the reaction conditions can be well regulated. Catalysts of this type are widely used in fine chemical manufacturing, drug production and in processes including hydrogenation and hydroformylation. Due to their high activity and selectivity they can be used where accurate control of reaction is needed, in the synthesis of diverse substances. However, the problems, which subsist with homogeneous catalysts are separation issues from the reaction mass and requirement of sophisticated apparatus.

 

On the other hand, heterogeneous rhodium catalysts refer to solid phase catalytic systems that comprise rhodium and are applied to gases or liquids in which the catalyst driver is in a dissimilar phase to the substrates. They are used extensively in car emissions systems including catalytic converters, as well as in the petrochemical and chemical markets. They have advantages like they can be easily separated from the reaction medium particularly in the industrial type of production. Although heterogeneous rhodium based catalysts show high efficiency in the processes of pollutants abatement and various chemical conversion, the activity of such catalysts is rather restrained by factors such as catalyst deactivation or high working temperatures. It is therefore believed that there will be an increasing demand of both types of rhodium catalysts due to better efforts being taken by industries.

 

By Application, Automotive (Catalytic Converters) segment expected to held the largest share 

 

The automotives segment remains the biggest and most important market for rhodium catalysts especially in the catalytic converters that are used to minimize dangerous gases emissions from auto exhaust systems. With emissions standards on automobiles tightening across the globe, rhodium-based catalysts have developed a demand in gasoline and diesel vehicles. Rhodium has also various applications in chemical manufacturing, especially as catalysts for hydrogenation, oxidation, hydroformylation and other complex syntheses; the high activity and stability of rhodium in these reactions is instrumental in making such chemical intermediates such as fine chemicals, polymers, specialty chemicals, etc. Furthermore, pharma factories use rhodium catalysts for producing essential ingredients of many medicines synthesizing different organic substances where these catalysts accurately fulfill their catalytic function.

 

Application of rhodium in petrochemical refining involves the swelling uses of hydro processing and other rhodium catalyst crucial processes involved in the generation of high value fuels. The use of rhodium in these applications benefits from its resistance to severe operating conditions, thus, realizing high conversions of hydrocarbons. Besides above main industries there are other applications of rhodium catalyst in environmental technologies and specialty chemical processes. For instance, rhodium-based catalysts are used in air and water filtration processes, besides applied in the fabrication of composite superior electronic and energy storage elements. These applications show that rhodium catalysts are used in many industries that call for cost-effective, long lasting and eco-friendly solutions.

 

Rhodium Catalyst Market Regional Insights

 

North America is Expected to Dominate the Market Over the Forecast period 

 

Standpoint of region, North America is expected to hold the largest share in the global Market of Rhodium Catalyst during the course of the forecast period with the benefit of more stringent norms in emission control and larger automobile industry. As the focus on emissions and fuel efficiency increases especially in the U.S., there is a steady demand for high performance catalytic converters on which rhodium is highly utilized. The trend towards energy-efficient vehicles, as well as the policies of utilizing high-level emission control technologies, promote the use of rhodium catalysts. Moreover, North America, which has a long history of automotive production, has the necessary infrastructure and increasing concern with eco-friendly solutions, including in the petrochemical and chemical sectors, to remain a major driver of market demand for rhodium catalyst in the foreseeable future.

 

Rhodium Catalyst Market Share, by Geography, 2023 (%)

 

Rhodium Catalyst Market Share, by Geography, 2023 (%)

 

Active Key Players in the Rhodium Catalyst Market

 

o   Mitsubishi Chemical (Japan)

o   SABIC (Saudi Arabia)

o   Linde (Germany)

o   Evonik (Germany)

o   Clariant (Switzerland)

o   Honeywell (USA)

o   Nippon Shokubai (Japan)

o   Catalent (USA)

o   Albemarle (USA)

o   BASF (Germany)

o   Oxea (Germany)

o   Haldor Topsoe (Denmark)

o   Johnson Matthey (UK)

o   Umicore (Belgium)

o   Shell (Netherlands)

o   Others

 

Global Rhodium Catalyst Market Scope

 

                                                       Global Rhodium Catalyst Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2023:

USD 17.2 Billion

Forecast Period 2024-32 CAGR:

 7.2%

Market Size in 2032:

USD 32.1 Billion

Segments Covered:

By Product Type

·        Homogeneous Rhodium Catalysts

·        Heterogeneous Rhodium Catalysts

By Application

·        Automotive (Catalytic Converters)

·        Chemical Manufacturing (Hydrogenation, Oxidation, Hydroformylation)

·        Pharmaceutical Production

·        Petrochemical Refining

·        Others (Environmental and Specialty Applications)

By End User

·        Automotive

·        Chemical

·        Pharmaceutical

·        Energy and Power

·        Others

By Region

·        North America (U.S., Canada, Mexico)

·        Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)

·        Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)

·        Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)

·        Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)

·        South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

·        Rhodium catalysts in automobile catalytic converters are needed due to environmental restrictions and low-emission car demand.

Key Market Restraints:

·        The high cost and limited availability of rhodium, a rare precious metal, pose challenges to market growth.

Key Opportunities:

·        In the Rhodium catalyst market, catalyst recycling and regeneration technologies reduce costs and increase sustainability.

Companies Covered in the report:

·        Mitsubishi Chemical (Japan), SABIC (Saudi Arabia), Linde (Germany), Evonik (Germany), Clariant (Switzerland), Honeywell (USA), Nippon Shokubai (Japan), Catalent (USA), Albemarle (USA), BASF (Germany), Oxea (Germany), Haldor Topsoe (Denmark), Johnson Matthey (UK), Umicore (Belgium), Shell (Netherlands), Others.

 


Frequently Asked Questions

1. What would be the forecast period in the Rhodium Catalyst Market research report?

Answer: The forecast period in the Rhodium Catalyst Market research report is 2024-2032.

2. Who are the key players in the Rhodium Catalyst Market?

Answer: Mitsubishi Chemical (Japan), SABIC (Saudi Arabia), Linde (Germany), Evonik (Germany), Clariant (Switzerland), Honeywell (USA), Nippon Shokubai (Japan), Catalent (USA), Albemarle (USA), BASF (Germany), Oxea (Germany), Haldor Topsoe (Denmark), Johnson Matthey (UK), Umicore (Belgium), Shell (Netherlands), Others.

3. What are the segments of the Rhodium Catalyst Market?

Answer: The Rhodium Catalyst Market is segmented into By Product Type, By Application, By End-User Industry and region. By Product Type (Homogeneous Rhodium Catalysts, Heterogeneous Rhodium Catalysts), By Application (Automotive (Catalytic Converters), Chemical Manufacturing (Hydrogenation, Oxidation, Hydroformylation),Pharmaceutical Production, Petrochemical Refining, Others (Environmental and Specialty Applications)), By End-User Industry (Automotive , Chemical, Pharmaceutical, Energy and Power, Others). By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

4. What is the Rhodium Catalyst Market?

Answer: Rhodium catalysts are highly effective and durable chemical agents composed primarily of rhodium, a precious metal known for its excellent catalytic properties. These catalysts are primarily used in processes like hydrogenation, oxidation, and hydroformylation, where they facilitate chemical reactions with minimal energy input. Rhodium's unique characteristics, such as its resistance to corrosion, high-temperature stability, and resistance to poisoning, make it an ideal choice for industries such as automotive, chemical production, and petrochemical refining. In the automotive sector, rhodium catalysts are particularly important in catalytic converters, helping to reduce harmful vehicle emissions by converting toxic gases like carbon monoxide, hydrocarbons, and nitrogen oxides into less harmful substances.

5. How big is the Rhodium Catalyst Market?

Answer: Rhodium Catalyst Market Size Was Valued at USD 1.86 Billion in 2023, and is Projected to Reach USD 3.0 Billion by 2032, Growing at a CAGR of 5.48% From 2024-2032.

Description of the image

Available License Types


Single User:$4500$3500
Multi User:$5400$4400
Enterprise User:$6250$5250

Related Reports

Recent Reports

Vacuum Capacitor Market

Vacuum Capacitor Market projected to hit USD XX Billion in 2023, growing at a XX% CAGR. Explore in-depth industry size, share, key segments, top players, and forecCOMET,    Jennings,    MEIDENSHA,    Richardson Electronics,    Highhope,    GLVACast trends from 2024 to 2033 in this latest market research report.

Electric Chafing Dish Market

The global Electric Chafing Dish Market is projected to grow from USD XX Billion in 2024 to around USD XX Billion by 2033, registering a CAGR of around XX% during the forecast period.