| Study Period | 2019 - 2030 |
| Market Volume (2025) | 34.62 tons |
| Market Volume (2030) | 43.56 tons |
| CAGR | 4.70 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Rhodium Market Analysis
The Rhodium Market size is estimated at 34.62 tons in 2025, and is expected to reach 43.56 tons by 2030, at a CAGR of 4.70% during the forecast period (2025-2030).
The COVID-19 pandemic had a significant impact on the rhodium market. Lockdowns, travel restrictions, and labor shortages caused disruptions in mining operations and rhodium output. This led to a decrease in the supply of rhodium. However, the rhodium market experienced a recovery after the initial impact of the COVID-19 pandemic. As lockdowns eased and industries resumed operations, the demand for rhodium in sectors such as automotive, electronics, and chemical manufacturing began to recover.
- Expansion of the automotive industry and the increasing demand from the jewelry industry are expected to drive the rhodium market in the forecast period.
- However, the high prices of rhodium are expected to restrain the market in the upcoming period.
- The technological advancements in mining and refining processes are expected to create lucrative opportunities for the rhodium market in the upcoming period.
- Asia Pacific is expected to dominate the market in the forecast period.
Rhodium Market Trends
Automotive Segment to Dominate the Market
- The rhodium market is significantly influenced by the automotive sector, which dominates due to the metal's extensive application in catalytic converters. This dominance is driven by the increasing focus on reducing vehicle emissions and adhering to stringent environmental regulations globally.
- Rhodium is a critical component in catalytic converters, which are essential for minimizing harmful emissions from vehicles. The rising emphasis on environmental sustainability has amplified the demand for rhodium in the automotive sector. Additionally, the growth in automotive production, particularly in emerging markets, has further bolstered this demand.
- According to data from the India Brand Equity Foundation, published in November 2024, the total production of passenger vehicles, three-wheelers, two-wheelers, and quadricycles in September 2024 reached 2,773,039 units. This highlights the robust growth in automotive manufacturing in key markets like India.
- Globally, motor vehicle production exceeded 94 million units in 2023, as per OICA data. Passenger cars accounted for approximately 73% of this figure, amounting to nearly 68 million units.
- In the United States alone, the auto industry produced around 10.6 million motor vehicles in 2023, including passenger cars, light commercial vehicles, heavy trucks, buses, and coaches.
- In conclusion, the automotive sector's dominance in the rhodium market is expected to persist, driven by increasing vehicle production and stringent environmental regulations. Emerging markets and global production trends will continue to play a pivotal role in shaping the demand for rhodium in the forecast period.
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Asia-Pacific Region Dominates the Market
- The Asia-Pacific rhodium market is witnessing robust growth, driven by key factors such as increasing automobile production. This region is expected to dominate with the highest compound annual growth rate during the forecast period.
- China and India are emerging as pivotal players in this market. Data from the China Association of Automobile Manufacturers (CAAM) highlights that in 2024, China achieved record-breaking figures by producing 31.28 million vehicles and selling 31.44 million, reflecting year-on-year growth of 3.7% and 4.5%, respectively. This marked the second consecutive year of surpassing the 30 million unit threshold and reinforced China's position as the global leader in automobile production and sales for the 16th consecutive year.
- In addition to China's performance, India is also contributing significantly to the market's growth. In March 2024, Tata Motors Group signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to explore the establishment of a vehicle manufacturing facility in the state. This initiative involves a planned investment of USD 1,081.6 million over five years.
- Furthermore, in April 2024, Tata Motors inaugurated a new commercial vehicle spare parts warehouse in Guwahati, enhancing its operational capabilities in the region.
- The region's expanding commercial and chemical sectors further amplify the demand for rhodium. Governments' emphasis on cleaner technologies and sustainable practices has led to increased utilization of rhodium in catalytic converters and industrial applications, driving the market upward.
- In conclusion, the Asia-Pacific rhodium market is set to experience significant growth during the forecast period, supported by advancements in the automotive sector and industrial expansion. The region's strategic developments and increasing focus on sustainability are expected to sustain this upward trajectory.
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Rhodium Industry Overview
The rhodium market is partially consolidated in nature. The major players in the market (not in any particular order) include Norilsk Nickel, Anglo American plc, Impala Platinum Holdings Limited, Sibanye-Stillwater, and Johnson Matthey among others.
Rhodium Market Leaders
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Anglo American plc
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Impala Platinum Holdings Limited
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Johnson Matthey
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Norilsk Nickel
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Sibanye-Stillwater
- *Disclaimer: Major Players sorted in no particular order
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Rhodium Market News
- March 2025: Renishaw collaborated with Cookson Industrial, a UK-based specialist in precious metal additive manufacturing (AM), to enhance the viability of producing platinum rhodium components through AM. This collaboration opens opportunities for large-scale manufacturing and the exploration of new applications for platinum rhodium in industries such as aerospace and catalysis.
- March 2025: Rhodium prices have experienced notable volatility. In March 2025, prices surged by 20%, reaching a 20-month high of USD 6,040 per troy ounce, primarily due to increased demand from the automotive sector for emission control catalysts. However, prices subsequently retreated to USD 5,640, reflecting the market's inherent volatility.
- February 2025: Anglo American plc has unveiled its decision to demerge Anglo American Platinum Limited (commonly referred to as Anglo American Platinum). In a move ahead of the demerger, Anglo American Platinum declared a final dividend for 2024, complemented by an extra cash dividend. The combined total of these dividends amounts to a substantial USD 0.9 billion, set to be distributed to all shareholders of Anglo American Platinum.
Rhodium Industry Segmentation
Rhodium is a member of the platinum group metals (PGMs) and is considered one of the most valuable precious metals. It is primarily used in catalytic converters for automobiles to reduce harmful emissions, as well as in the chemical industry, electronics, and jewelry for its catalytic properties, conductivity, and reflectivity.
The rhodium market is segmented on the basis of source, application, end-user industry, and geography. By Source, the market is segmented into mineral and recycling. By application, the market is segmented into catalyst, chemical manufacturing, jewelry, and others (glass manufacturing and aircraft turbine engines). By end-user industry, the market is segmented into automotive, chemical, glass, electrical and electronics, and others (aircraft turbine engines and other industrial uses). The report also covers the market size and forecasts for the rhodium market in 27 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (tons).
| Source | Mineral | ||
| Recycling | |||
| Application | Catalyst | ||
| Chemical Manufacturing | |||
| Jewelry | |||
| Others | |||
| End-user Industry | Automotive | ||
| Chemical | |||
| Glass | |||
| Electrical and Electronics | |||
| Others | |||
| Geography | Asia-Pacific | China | |
| India | |||
| Japan | |||
| South Korea | |||
| Malaysia | |||
| Indonesia | |||
| Thailand | |||
| Vietnam | |||
| Rest of Asia-Pacific | |||
| North America | United States | ||
| Canada | |||
| Mexico | |||
| Europe | Germany | ||
| United Kingdom | |||
| Italy | |||
| France | |||
| Spain | |||
| NORDIC Countries | |||
| Turkey | |||
| Russia | |||
| Rest of Europe | |||
| South America | Brazil | ||
| Argentina | |||
| Colombia | |||
| Rest of South America | |||
| Middle-East and Africa | Saudi Arabia | ||
| Qatar | |||
| United Arab Emirates | |||
| Nigeria | |||
| Egypt | |||
| South Africa | |||
| Rest of Middle-East and Africa | |||
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Rhodium Market Research FAQs
How big is the Rhodium Market?
The Rhodium Market size is expected to reach 34.62 tons in 2025 and grow at a CAGR of 4.70% to reach 43.56 tons by 2030.
What is the current Rhodium Market size?
In 2025, the Rhodium Market size is expected to reach 34.62 tons.
Who are the key players in Rhodium Market?
Anglo American plc, Impala Platinum Holdings Limited, Johnson Matthey, Norilsk Nickel and Sibanye-Stillwater are the major companies operating in the Rhodium Market.
Which is the fastest growing region in Rhodium Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Rhodium Market?
In 2025, the Asia Pacific accounts for the largest market share in Rhodium Market.
What years does this Rhodium Market cover, and what was the market size in 2024?
In 2024, the Rhodium Market size was estimated at 32.99 tons. The report covers the Rhodium Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Rhodium Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Rhodium Industry Report
Statistics for the 2025 Rhodium market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Rhodium analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
