Market Size of Rhenium Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Rhenium Market Analysis
The market for rhenium is expected to grow at a CAGR of more than 5.1% globally during the forecast period. Rhenium is a chemical element with atomic number 75. With an estimated average concentration of 1 part per billion (ppb), rhenium is one of the rarest elements of the Earth's crust. The growth in the production of aircraft and increasing demand from the power industry have been driving market growth.
- However, the growing usage of substitutes and the outbreak of coronavirus across the globe are likely to hinder the growth of the studied market.
- Rising demand from biomedical applications is likely to provide opportunities for the rhenium market over the next five years.
- Aerospace is the most dominating end-user industry of the market studied.
- North America dominated the market across the globe and Asia-Pacific expected to be the fastest-growing region over the forecast period.
