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According to the latest research, the global Iridium market size was valued at USD 1402.65 million in 2022 and is expected to expand at a CAGR of 9.41% during the forecast period, reaching USD 2406.09 million by 2028.
Iridium is a dense, hard, brittle, silver-white transition metal of the platinum group. It is almost as inactive as gold. It has a very high density and melting point.
The iridium catalyst market has a great demand for iridium
Iridium can be used to produce various catalysts. Iridium oxide is an important catalyst, especially in electrocatalysis and photocatalysis. It can be used as an anode catalyst in water electrolysis and fuel cells, which can improve the efficiency of the electrolysis process and reduce the cost of fuel cells. Iridium oxide can also be used as a photocatalyst in water splitting and carbon dioxide reduction reactions, and solar energy and visible light can be used to generate clean energy.
Currently, in the global market, energy anxiety is accelerating the growth of iridium demand for hydrogen energy; hydrogen is a carbon-free fuel that can clean up economic sectors that are difficult to decarbonize, including long-distance transportation, aviation, steelmaking, and grid-scale power storage. Proton exchange membrane (PEM) electrolyzers can produce hydrogen from water and renewable electricity; however, electrolyzers, one of the key technologies for hydrogen production, currently rely on iridium. In PEM electrolyzers, iridium acts as a catalyst that drives chemical reactions and increases overall efficiency. As the demand for clean hydrogen increases, so does the need for electrolyzers. Increases in electrolyzer production are increasing the demand for iridium. For example, in 2022 the EU reached a multilateral agreement committing to a tenfold increase in electrolyzer production in Europe by 2025.
Therefore, the high demand for iridium in the iridium catalyst market is driving the iridium industry.
Demand for iridium is growing in the electrical and electronics sector
Iridium is a key element in a variety of products, including temperature-resistant crucibles for growing electro-synthetic crystals, high-performance spark plugs, medical devices, and more. Iridium is used in an increasing number of electrical and electronic applications. In recent years, with the widespread use of mobile devices such as smartphones, tablets, and laptops, the demand for iridium capacitors has increased significantly, leading to an increase in the market price of iridium. In addition, the demand for iridium in the aerospace field is also growing, especially the wide application of satellites makes the demand for iridium more urgent.
In addition, OLED technology for consumer electronics, based on iridium compounds, is currently the fastest-growing display technology. With the development of 5G technology, the demand for 5G smartphones will grow, which will increase the demand for iridium.
Overall, the growing demand for iridium in the electrical and electronics sector is driving the iridium industry.
Region Overview:
In 2022, the share of the Iridium market in Asia Pacific stood at 35.20%.
Company Overview:
Anglo American is one of the major players operating in the Iridium market, holding a share of 32.70%
in 2022.
Anglo American is a mining company engaged in the exploration and mining of precious and ferrous metals. Anglo American operates across the value chain, producing a full range of PGMs including Platinum, Palladium, Rhodium, Iridium, and many more.
Impala Platinum is a South African holding company that owns companies that operate mines producing platinum and platinum group metals, as well as nickel, copper and cobalt. Impala Platinum is a leading producer of platinum group metals (PGM).
Sibanye-Stillwater is a multinational mining and metal processing group with a diverse portfolio of projects and investments on five continents. The group is also one of the world's foremost recyclers of PGM autocatalysts. Sibanye-Stillwater has become one of the world's largest primary producers of platinum, palladium and rhodium and is a leading gold producer. It also produces and refines iridium and ruthenium, nickel, chromium, copper and cobalt.
Segmentation Overview:
By type, Mineral Source segment accounted for the largest share of market in 2022.
Mineral Source
Iridium is a mineral resource. Iridium is rare in the Earth's crust but is abundant in some volcanic streams, suggesting that the core is rich in the element. Iridium is found in nature together with platinum and other platinum group metals in alluvial deposits.
Recycling Source
Iridium is a precious metal that can be recycled. Iridium is a rare precious metal, and its application in many fields is very extensive. Recycling iridium can save resources.
Application Overview:
The market's largest segment by application is the segment Electrical, with a market share of 28.01% in 2022.
This report elaborates on the market size, market characteristics, and market growth of the Iridium industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Iridium. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Iridium Market Report Include:
Market Size Estimates: Iridium market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Iridium market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Iridium market
Segment Market Analysis: Iridium market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Iridium market situations and prospects in major and top regions and countries
Iridium Market
Iridium Industry Chain: Iridium market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Iridium Industry News, Policies by regions
Iridium Industry Porters Five Forces Analysis
Key players in the global Iridium market are covered in Chapter 2:
Johnson Matthey
Anglo American
Norilsk Nickel (Nornickel)
Sibanye-Stillwater
Royal Bafokeng Platinum
Impala Platinum
Umicore
Heraeus
In Chapter 6 and Chapter 9, on the basis of types, the Iridium market from 2018 to 2028 is primarily split into:
Mineral Source
Recycling Source
In Chapter 7 and Chapter 10, on the basis of applications, the Iridium market from 2018 to 2028 covers:
Catalyst
Chemical Manufacturing
Electricals and Electronics
Jewellery
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Iridium market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Iridium industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Iridium market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Iridium industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Iridium market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Iridium market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Iridium market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
2022
Iridium is a dense, hard, brittle, silver-white transition metal of the platinum group. It is almost as inactive as gold. It has a very high density and melting point.
The iridium catalyst market has a great demand for iridium
Iridium can be used to produce various catalysts. Iridium oxide is an important catalyst, especially in electrocatalysis and photocatalysis. It can be used as an anode catalyst in water electrolysis and fuel cells, which can improve the efficiency of the electrolysis process and reduce the cost of fuel cells. Iridium oxide can also be used as a photocatalyst in water splitting and carbon dioxide reduction reactions, and solar energy and visible light can be used to generate clean energy.
Currently, in the global market, energy anxiety is accelerating the growth of iridium demand for hydrogen energy; hydrogen is a carbon-free fuel that can clean up economic sectors that are difficult to decarbonize, including long-distance transportation, aviation, steelmaking, and grid-scale power storage. Proton exchange membrane (PEM) electrolyzers can produce hydrogen from water and renewable electricity; however, electrolyzers, one of the key technologies for hydrogen production, currently rely on iridium. In PEM electrolyzers, iridium acts as a catalyst that drives chemical reactions and increases overall efficiency. As the demand for clean hydrogen increases, so does the need for electrolyzers. Increases in electrolyzer production are increasing the demand for iridium. For example, in 2022 the EU reached a multilateral agreement committing to a tenfold increase in electrolyzer production in Europe by 2025.
Therefore, the high demand for iridium in the iridium catalyst market is driving the iridium industry.
Demand for iridium is growing in the electrical and electronics sector
Iridium is a key element in a variety of products, including temperature-resistant crucibles for growing electro-synthetic crystals, high-performance spark plugs, medical devices, and more. Iridium is used in an increasing number of electrical and electronic applications. In recent years, with the widespread use of mobile devices such as smartphones, tablets, and laptops, the demand for iridium capacitors has increased significantly, leading to an increase in the market price of iridium. In addition, the demand for iridium in the aerospace field is also growing, especially the wide application of satellites makes the demand for iridium more urgent.
In addition, OLED technology for consumer electronics, based on iridium compounds, is currently the fastest-growing display technology. With the development of 5G technology, the demand for 5G smartphones will grow, which will increase the demand for iridium.
Overall, the growing demand for iridium in the electrical and electronics sector is driving the iridium industry.
Region Overview:
In 2022, the share of the Iridium market in Asia Pacific stood at 35.20%.
Company Overview:
Anglo American is one of the major players operating in the Iridium market, holding a share of 32.70%
in 2022.
Anglo American is a mining company engaged in the exploration and mining of precious and ferrous metals. Anglo American operates across the value chain, producing a full range of PGMs including Platinum, Palladium, Rhodium, Iridium, and many more.
Impala Platinum is a South African holding company that owns companies that operate mines producing platinum and platinum group metals, as well as nickel, copper and cobalt. Impala Platinum is a leading producer of platinum group metals (PGM).
Sibanye-Stillwater is a multinational mining and metal processing group with a diverse portfolio of projects and investments on five continents. The group is also one of the world's foremost recyclers of PGM autocatalysts. Sibanye-Stillwater has become one of the world's largest primary producers of platinum, palladium and rhodium and is a leading gold producer. It also produces and refines iridium and ruthenium, nickel, chromium, copper and cobalt.
Segmentation Overview:
By type, Mineral Source segment accounted for the largest share of market in 2022.
Mineral Source
Iridium is a mineral resource. Iridium is rare in the Earth's crust but is abundant in some volcanic streams, suggesting that the core is rich in the element. Iridium is found in nature together with platinum and other platinum group metals in alluvial deposits.
Recycling Source
Iridium is a precious metal that can be recycled. Iridium is a rare precious metal, and its application in many fields is very extensive. Recycling iridium can save resources.
Application Overview:
The market's largest segment by application is the segment Electrical, with a market share of 28.01% in 2022.
This report elaborates on the market size, market characteristics, and market growth of the Iridium industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Iridium. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Iridium Market Report Include:
Market Size Estimates: Iridium market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Iridium market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Iridium market
Segment Market Analysis: Iridium market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Iridium market situations and prospects in major and top regions and countries
Iridium Market
Competitive Landscape
and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product/service profile and recent development/updates, etc.Iridium Industry Chain: Iridium market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Iridium Industry News, Policies by regions
Iridium Industry Porters Five Forces Analysis
Key players in the global Iridium market are covered in Chapter 2:
Johnson Matthey
Anglo American
Norilsk Nickel (Nornickel)
Sibanye-Stillwater
Royal Bafokeng Platinum
Impala Platinum
Umicore
Heraeus
In Chapter 6 and Chapter 9, on the basis of types, the Iridium market from 2018 to 2028 is primarily split into:
Mineral Source
Recycling Source
In Chapter 7 and Chapter 10, on the basis of applications, the Iridium market from 2018 to 2028 covers:
Catalyst
Chemical Manufacturing
Electricals and Electronics
Jewellery
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Iridium market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Iridium industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Iridium market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Iridium industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Iridium market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Iridium market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Iridium market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
Years considered for this report:
Historical Years:
2018-2022Base Year:
2022Estimated Year:
2023Forecast Period:
2023-2028Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
