Increasing demand for Ruthenium Tetroxide from the electrical industry is one of the significant factors influencing market growth.
Ruthenium Tetroxide Market Size – USD 1,847.4 Million in 2020, Growth - CAGR of 5.50%, Trends – Increasing use of Ruthenium Tetroxide as a chemical catalyst
The global Ruthenium Tetroxide Market is expected to reach USD 469.2 Million by 2028, according to a new report by Reports and Data. The growth of the market is attributed to the increasing end-use applications of this rare transition metal.
The rising demand for Ruthenium Tetroxide from the chemical industry is expected to boost market demand in the upcoming years. The process of electroplating a substrate metal with precious metals, including Ruthenium Tetroxide, aids in improving the aesthetics of the underlying substrate as well as helps in imparting added features like enhancing wear resistance and corrosion resistance, and improving electrical conductivity and surface ductility to the substrate. Moreover, Ruthenium Tetroxide oxide finds application in the chemical industry for the production of chlorine and is used for the coating of anodes of electrochemical cells. Ruthenium Tetroxide is generally alloyed with platinum or palladium as a hardener to improve the hardness of these metals for application in the production of electrical contacts with wear-resistant properties. This allows the application of a considerably thinner coating that improves electroplating when using these metals.
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Top Leading Players: American Elements, Dyesol, OXKEM, Tanaka Kikinzoku Kogyo K.K., Johnson Matthey, Merck KGaA, Strem Chemicals Inc., Heraeus Holding GmbH, Apeiron Synthesis, and BASF, among others.
Further key findings from the report suggest:
By form, dry/powder form contributed to the largest market share in 2020 and is likely to grow at a rate of 5.5% in the forecast period. One of the advantages of this form of Ruthenium Tetroxide is its ability to lessen the reaction time, thus leading to an increased yield in a chemical reaction.
By distribution channel, online sales channel is estimated to grow at a significant rate in the period 2019-2028 as online sales channel helps the market players to have access to a broader market irrespective of whether they have a physical presence in that region or not.
By end-users, the electrical electronics industry held a significant market size in the forecast period and is expected to grow at a rate of 5.5% in the forecast period.
The market in the Asia Pacific region is likely to grow at the fastest rate of 6.7% in the forecast period. The high growth rate of the APAC region is the result of the growing demand for this rare metal in chemical and electronic semiconductor industries.
The key regions covered in the report are as follows:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Market Segmentation:
Form Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- Dry/Powder Form
- Liquid Form
- Gaseous Form
Distribution Channel (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- Online
- Offline
End-Users Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- Electrical Electronics
- Chemical
- Pharmaceutical
- Others
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Table of Contents:
Report Overview
1.1 Research Scope
1.2 Key Ruthenium Tetroxide market segments
1.3 Major players
1.4 Market analysis by product type
1.5 Market analysis by application
1.6 Report timeline
Global Growth Trends
2.1 Global Ruthenium Tetroxide market size
2.2 Latest regional market trends
2.3 Emerging growth trends
Competitive Outlook
3.1 Global Ruthenium Tetroxide market key players
3.2 Global Ruthenium Tetroxide size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Ruthenium Tetroxide market
3.5 Mergers, acquisitions, joint ventures, and other strategic alliances
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