Rhenium is a chemical element of metal family, with silvery-white color that is known for a very high melting point and a heat-stable crystalline structure. These qualities have made it exceptionally resistant to. A by-product of molybdenum smelting, the global value for it is increasing at a slower pace, with the increased activities in the aerospace industry for the past few years. Though applications of rhenium is expanding the market is also facing certain restrains at the same time.
The global rhenium market was worth US$160 mn in 2018 and the report suggests that it will reach US$190 mn by 2025, moving at a sluggish CAGR of 2.7% during the period of 2018 and 2025. QY Research discusses the future of the market in its latest report, titled “Global Rhenium Market Report, History and Forecast 2014-2025, Breakdown Data by Manufacturers, Key Regions, Types and Application.”
Global Rhenium Market: Drivers
The largest section of rhenium market is its superalloy. Rhenium is extensively used in the aircraft engines such as Airbus A380 and Boeing 787 Dreamliner. It boosts the efficiency of jet engines and thus has a high demand in the aviation industry. It is also used in jet engine turbines and spaceships to increase its ability to withstand very high chemical resistance and high-temperature resistance.
Rhenium is a high energy metal with radioisotope ability. As a result of this, it is used in a wide range of therapeutic applications, such as preparation of radiopharmaceuticals for radionuclide therapy, nuclear medicine, oncology, cardiology, and interventional radiology. Diseases such as rheumatoid arthritis, as bone metastasis, and primary cancers use rhenium for diagnosis and the treatment. It is also used for the production of phosphonates, peptides, antibodies, and lipiodol. The generated high energy from the β-emission of rhenium is effective in curing tumors.
Global Rhenium Market: Segment Analysis
The global rhenium market is segmented by type and application. In terms of type, the market is segmented into primary rhenium and recycling rhenium. The primary rhenium producers supply products by themselves, also most of the producers own their own ores. The recycling rhenium producers purchase raw material from the market. In terms of applications, the market is segmented into superalloys, catalysts, and others. Among them, the use of rhenium in the catalyst segment is relatively high.
Global Rhenium Market: Regional Analysis
On the basis of region, the global rhenium market is segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. North America the leading region for the global rhenium market with advancements in aerospace industry and medical treatments.
Global Rhenium Market: The Key Players
The key players studied in the global rhenium market are Freeport MCMoRan, Molymet, Jiangxi Copper, KGHM, LS-Nikko, and KAZ Minerals. Rhenium is a concentrated market with limited establishments.
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