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  • Rhenium is one of the rarest metals available in the Earth's crust. It is a low volume metal, which does not have any substitute for various applications where it is used.
  • Certain ores contain small traces of rhenium. Extraction of rhenium takes place in an exclusive manner as a by-product of the processing of these ores.
  • It is important to recover rhenium through recycling of used materials that contain it. It is one of the precious metal, which requires high degree of expertise for its quality and purity.
  • Rhenium is considered a green element in aerospace applications, as it is used in hot zones of jet engines to obtain higher operating temperatures
  • Rhenium pellets and high quality rhenium powder are used as elementary alloying additions in the manufacture of turbine blades in jet engines

Key Drivers of Rhenium Market

  • Rise in demand for commercial air travel, especially in emerging economies around the globe, with addition in civil helicopters and business aircraft along with spacecraft is expected to be one of the major drivers of the global rhenium market. Rhenium is used in various aerospace and defense applications throughout the value chain.
  • The global health care industry has been expanding at a rapid pace of late. Growth in the elderly population across the globe, high prevalence of chronic diseases, and advancements in innovative digital technologies are some of the major factors driving the global health care industry. This, in turn, is boosting the global rhenium market. Unique properties of rhenium make it essential for usage in various medical applications such as Magnetic Resonance Tomography (MRT) systems.

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Key Developments and Policies

  • In February 2019, Ravindra-Heraeus, one of the leading precious metal service providers in India, announced that it had set up the first pyrometallurgical smelter (Plasma Metal Recovery System) in India. The Indo-German joint venture is investing significantly to expand its precious metals recycling capacity to meet demand.
  • In January 2020, a new patent was filed by Cannon-Muskegon, a producer of superalloys. It indicates that the rhenium content of single crystal superalloy for turbine blades can be ideally lowered to 1.4–1.6%, while maintaining high-temperature creep resistance and other properties. Total refractory elements (tungsten, molybdenum, tantalum, and rhenium) were balanced at 18%–19% by weight to achieve good creep-rupture mechanical stability and acceptable alloy phase stability.

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Regional Analysis of Global Rhenium Market

  • Based on region, the global rhenium market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
  • Asia Pacific is expected to hold major share of the global rhenium market during the forecast period. Increase in aircraft & jet engine production, mainly in emerging countries such as China and India in Asia Pacific, is driving the market in the region.
  • North America is also an important region of the global rhenium market. Rapid production of rhenium and growth in the medical sector are key factors boosting the rhenium market in the region.
  • Europe is likely to be a high potential region of the global rhenium market during the forecast period. Growth in various industrial sectors such as automotive, construction, medical electronics, and renewable industries is estimated to drive the rhenium market in the region.

Key Players in Market

Key players operating in the global rhenium market include:

  • Freeport-McMoRan
  • Heraeus Holding
  • KAZ Minerals PLC
  • LS-Nikko Copper Inc.
  • KGHM
  • Jiangxi Copper Corporation
  • Rhenium Alloys Inc.
  • American Elements
  • H Cross Company

Global Rhenium Market: Research Scope

Global Rhenium Market, by Type

  • Rhenium Metal
  • Rhenium Alloy
  • Rhenium Powder
  • Rhenium Pellets
  • Others

Global Rhenium Market, by End-use Industry

  • Aerospace
  • Catalyst
  • Petrochemical
  • Medical
  • Others (including Electronics)

Global Rhenium Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Spain
    • Italy
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Rhenium Market

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