Top Emerging Trends in the Global Rhenium Market | Technavio

Date : 02/13/2018 @ 12:43PM
Source : Business Wire

Top Emerging Trends in the Global Rhenium Market | Technavio

Technavio’s latest market research report on the global rhenium market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

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Technavio has published a new market research report on the global rhenium market from 2018-2022. (Graphic: Business Wire)

According to Technavio analysts, the global rhenium market will grow at a CAGR of over 7% during the forecast period. The rising demand for rhenium in aerospace engines is a major factor driving the market’s growth.

Rhenium is extensively used in the aircraft engines such as Boeing 787 Dreamliner and Airbus A380. It is used to boost the efficiency of jet engines and is in high demand in the aviation industry. Rhenium is also used in jet-engine turbines and for shielding spaceships due to its ability to withstand very high temperature and high chemical resistance.

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In this report, Technavio highlights the growing use of rhenium-188 in healthcare industry as one of the key emerging trends driving the global rhenium market:

Growing use of rhenium-188 in healthcare industry

Rhenium-188 is a high energy emitting radioisotope obtained from the tungsten-188 generator. It is applied in a wide range of therapeutic applications such as nuclear medicine, preparation of radiopharmaceuticals for radionuclide therapy, oncology, interventional radiology, and cardiology. Diseases such as bone metastasis, rheumatoid arthritis, and primary cancers use rhenium-188 for diagnosis and treatment. Rhenium-188 is used to produce phosphonates, antibodies, peptides, and lipiodol. The high energy generated from the β-emission of rhenium-188 is effective in treating tumors.

“In countries such as, the UK, the US, Germany, and China it is primarily used in medical facilities. However, in many countries, the effective use of rhenium-188 for medical purposes is in its emerging stages. It is expected that the use of rhenium-188 will increase during the forecast period which will foster the growth of the global rhenium market,” says a senior analyst at Technavio for research on metals and minerals.

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Global rhenium market segmentation

This market research report segments the global rhenium market into the following applications (superalloys and catalysts) and key regions (the Americas, APAC, and EMEA).

The superalloys segment held the largest market share in 2017, accounting for nearly 72% of the market. The market share for this application is expected to increase by 2022, leading to a proportionate decrease in the market share for catalysts.

The Americas was the leading region for the global rhenium market in 2017, accounting for a market share of 78%. By 2022, APAC and EMEA will witness a decline in their market share while the market share for the Americas will increase further.

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200www.technavio.com

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