The latest report by IMARC Group, titled "Iridium Prices Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of the price trend. This report delves into the price of Iridium globally, presenting a detailed analysis, along with an informative Iridium Price Chart. Through comprehensive price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecasts, making this report an invaluable resource for industry stakeholders.
Iridium Prices by End of The Last Quarter:
- United States: 4577 USD/ Troy Ounce
Key Details About the Iridium Price Trend
Iridium, a rare and highly corrosion-resistant metal from the platinum group, is known for its durability and heat resistance, making it valuable in numerous industrial applications. Extracted from platinum ores, it is typically recovered during the mining processes for platinum, palladium, and rhodium through techniques like electrolysis or chemical extraction. Iridium’s notable resistance to high temperatures and corrosion makes it an ideal choice for use in spark plugs, crucibles, and chemical production equipment. Its density and ability to maintain stability under extreme conditions are critical for aerospace and electronic applications. The metal is also essential for producing standard weights and measures, owing to its non-reactive properties. In the medical field, iridium is used in implants and cancer treatments, thanks to its radioactive isotopes that aid in targeted radiation therapies. Iridium alloys are favored for their durability in high-wear industries, especially in engines, electrical contacts, and specialized tools. Available in various forms such as powder, sponge, rods, and alloys, iridium serves a wide range of industrial and scientific needs.
Factors Influencing Iridium Price Analysis
The global iridium prices are seeing growth due to several factors. Rising demand in the electronics sector, particularly for semiconductor manufacturing, is a key driver. The automotive industry's focus on cleaner emissions has increased iridium's use in catalytic converters, further boosting demand. Additionally, the growing application of iridium in medical devices and cancer treatments adds to its market value. The metal is also essential in chemical manufacturing, where it serves as a catalyst. The aerospace industry contributes to iridium demand, using it in jet engine spark plugs. With the rise of hydrogen fuel cells, iridium's role as an electrode material has gained prominence. Moreover, the expanding green technology sector, including renewable energy and water treatment, relies on iridium-based catalysts, further supporting market growth.
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Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
- North America: United States and Canada
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
- Middle East Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include a thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape, and benchmarking analyses, pricing and cost research, and procurement research.
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