Global Ruthenium Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Ruthenium Market Overview:

“The global Ruthenium Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various reliable sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts, with the primary objective to provide a holistic view of the market.

In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make more accurate and informed forecasts about the market scenario in future.

Ruthenium (Ru) is a silvery white metallic, transition metal which belongs to the platinum group. It acts as an inert to most chemicals and is also used as platinum alloys, catalysts, wear-resistant electrical contacts, and thick-film resistors.

Primary factors driving growth of the global ruthenium market is its wide use in electrochemical sector, and aerospace. It is also an important material in electronics and semiconductor industry, used as barrier layer in fabrication of microelectronic chip fabrication, which is expected to fuel growth of the global ruthenium market significantly in the coming years.

In addition, its usage as a catalyst in chemical reactions is projected to drive growth of the global ruthenium market over the forecast period. Major factors restraining growth of the target market are its high cost and high production cost. Adverse health effects on individuals can challenge the growth of the target market. Major trend observed in the market is the growing popularity of ruthenium in various applications, which is expected to fuel growth of the target market.

North America is the dominant regional market, accounting for highest share in the global ruthenium market in terms of revenue and is expected to maintain its dominance over the forecast period. This is attributed to the growing adoption in chemicals and electronics industry in the region. Asia Pacific is anticipated to register a significant growth on account of its increasing demand in electronics and semiconductors industries.

Growing demand for ruthenium in healthcare industry in European region will also complement the market growth. The market in Latin America and Middle East & Africa are expected to register a moderate growth over the forecast period.

Global Ruthenium Market Segmentation:

Segmentation by form:

• Dry/Powder
• Gas
• Liquid

Segmentation by application:

• Electronics & semiconductors
• Chemical catalysis
• Electrochemical
• Others (aerospace and electrical)

Segmentation by region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa