(MENAFN- America News Hour) Research Nester published a report titled
“ruthenium tetroxide market : Global Demand Analysis & Opportunity Outlook 2031”
which delivers detailed overview of the global ruthenium tetroxide in terms of market segmentation by type, application, function and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global ruthenium tetroxide market is anticipated to grow with a CAGR of ~9% during the forecast period, i.e. 2022-2031. It estimated to garner a revenue of USD 2 Billion by the end of 2031, up from a revenue of USD 1 Billion in 2021. The market is segmented by application into electronic resistors, metal alloys, chemical, pharmaceutical, solar cells, and others. Out of these, the chemical segment is estimated to garner the largest revenue by 2031 owing to increased global chemical consumption.
In 2020, global chemical consumption accounted for more than USD 3 trillion.
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Rise in the pharmaceutical sales is anticipated to drive the growth of the global ruthenium tetroxide market. Moreover, rapid industrialization, and urbanization is further expected to surge the growth of the market.
Geographically, the global ruthenium tetroxide market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in the North America region is estimate to garner the largest market share by the end of 2031, on the back of increased use of ruthenium tetroxide in industries such as chemical, pharmaceutical and other. Moreover, the North America region holds the major shares of chemical, electronics and pharmaceuticals markets, which makes the demand of ruthenium tetroxide high in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increase in the Demand of Electronics Goods to Drive the Market Growth
Rising interest in ruthenium tetroxide-based dyes for manufacturing dye-sensitized solar cells is the primary factor for the market growth. In addition, the rising commercial value of ruthenium tetroxide in the production of ruthenium compounds and metals for high power conversion efficiency along with the rising demand of ruthenium tetroxide in the various end-user industries are the other major factors fueling the growth in the market.
However, less availability of the chemical coupled with high costs and stringent rules regarding environment protection is expected to operate as key restraints to the growth of the global ruthenium tetroxide market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global ruthenium tetroxide market which includes company profiling of PJSC MMC Norilsk Nickel, Aspira Scientific, Inc., METAKEM GmbH, Reade International Corp., Johnson Matthey, Ames Goldsmith U.K. Limited, FURUYA METAL Co., Ltd, Career Henan Chemical Co., American Elements and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global ruthenium tetroxide market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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