Rhodium fell to 7,700 USD/t oz. on October 22, 2025, down 1.91% from the previous day. Over the past month, Rhodium's price has risen 8.07%, and is up 62.11% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Rhodium - values, historical data, forecasts and news - updated on October of 2025.

Rhodium price data, historical values, forecasts, and news provided by Money Metals Exchange. Rhodium prices and trends updated regularly to provide accurate market insights.

Rhodium is a precious metal that removes pollutants from vehicle exhaust fumes. In February 2020, the price of rhodium was 11,665 U.S. dollars per troy ounce. By May 2020, the price decreased to below 8,000 U.S. dollars per ounce. In April 2021, the price rose to a new high of 28,775 U.S dollars, before decreasing throughout 2022 and early 2023. By December 2024, the average price significantly decreased, reaching around 4,575 U.S. dollars per troy ounce. In comparison, the price for an ounce of rhodium was approximately 5,905 U.S. dollars in August 2022. The rarest metal: Rhodium Rhodium is a rare and precious metal that belongs to the platinum group metals (PGMs), along with platinum, palladium, osmium, iridium, and ruthenium. Due to its scarcity, it is one of the most valuable metals in the world, often exceeding the price of gold. Rhodium is extensively used in the automotive industry to manufacture catalytic converters that reduce harmful emissions. Over the last few years, even with a steady supply, Rhodium demand has risen significantly, exceeding supply due to stricter emission regulations and advancements in the automobile industry. The significance of PGMs in South Africa South Africa is rich in various natural resources, such as metals and minerals. For example, almost all of the total global reserves of PGMs are in South Africa. In 2023, PGMs generated the highest revenue share in the South African mining sector compared to other commodities, amounting to 370 billion rands.

The average price for rhodium in 2023 was roughly 6,660 U.S. dollars per troy ounce, marking a decrease of almost 9,000 U.S. dollars per ounce in price compared to the previous year. Rhodium is a noble metal and a platinum group metal. The main use of rhodium is as an autocatalyst.

The Rhodium Market Marketsize was valued at USD 2.0 Billion in 2023 and is projected to reach USD 3.2 Billion by 2032, exhibiting a CAGR of 5.46% during the forecast period. The Rhodium Market explores the production, trade, and application of rhodium—a precious metal. Rhodium is mainly applied in motor vehicle catalytic converters to facilitate emission reduction and this forms the basis of environmental regulations. Such uses include jewelry, electrical contacts, and chemical industry catalysts because of their high melting point and resistance to oxidation. Trends in the market include increasing demand driven by stricter emission regulations globally, volatility in rhodium prices due to its rarity and concentrated supply, and growing interest in recycling and recovery from spent catalytic converters. Another factor that has an impact on the market strategy and promotes future demand for rhodium is the ongoing trend for the abatement of harmful greenhouse gases and the gradual transition to electric vehicles in the automotive industry. Key drivers for this market are: Increasing Demand from Paints & Coatings Industry to Boost the Solvents Market Growth. Potential restraints include: Hazardous Impacts Caused by Chemical Solvents to Hamper Market Growth.

Rhodium Market Outlook

The global rhodium market size was valued at approximately $2 billion in 2023 and is projected to reach $4 billion by 2032, growing at a compound annual growth rate (CAGR) of around 8%. The growth of this market is primarily driven by the increasing demand for rhodium in various applications, including automotive, electronics, and jewelry. The unique properties of rhodium, such as its high reflectivity, corrosion resistance, and ability to withstand high temperatures, make it an invaluable component in numerous industrial and commercial applications. These factors, combined with the rising technological advancements, are expected to fuel the market's growth over the forecast period.

One of the major growth factors for the rhodium market is the escalating demand within the automotive industry. Rhodium is extensively used in catalytic converters, which are crucial for reducing harmful emissions from vehicles. With the global push towards stricter emission norms and the increasing production of automobiles, particularly in developing regions, the demand for catalytic converters and, by extension, rhodium is surging. Additionally, the shift towards electric vehicles, which also utilize rhodium, albeit in different capacities, further adds to the demand. This trend is expected to continue as environmental regulations become more stringent, thus driving the growth of the rhodium market.

In the electronics industry, rhodium's exceptional electrical conductivity and resistance to tarnish have led to its increased use in electrical contacts and connectors. As the world becomes increasingly digital and the demand for electronic devices continues to rise, the need for reliable and efficient electrical components is paramount. Rhodium, with its superior properties, is being increasingly utilized to ensure device longevity and reliability. Furthermore, advancements in technology and the miniaturization of electronic components are creating new opportunities for rhodium applications, thereby contributing to market growth.

The jewelry industry also plays a significant role in the rising demand for rhodium. Known for its brilliant reflective properties, rhodium is often used to plate white gold and silver jewelry, enhancing their appearance and durability. The aesthetic appeal of rhodium-plated jewelry has gained popularity among consumers, driving the demand for rhodium in this segment. With the growing global population and increasing disposable incomes, particularly in emerging markets, the demand for luxury and high-quality jewelry is on the rise, further bolstering the rhodium market.

Regionally, the Asia Pacific emerges as a dominant player in the rhodium market, attributed to its robust automotive and electronics industries. Countries like China, Japan, and India are witnessing rapid industrial growth and urbanization, leading to increased demand for rhodium. North America and Europe also hold significant shares of the market, driven by technological advancements and stringent environmental regulations. These regions are expected to maintain a steady growth trajectory, supported by continuous innovation and a strong focus on reducing carbon emissions.

Form Analysis

The rhodium market is segmented by form into powder, sponge, and ingot, each catering to distinct industrial needs. Rhodium powder is primarily used in chemical applications where precision and reactivity are crucial. Its fine particle size allows for uniform distribution in catalytic processes, making it an ideal choice for chemical reactions that require high efficiency. The demand for rhodium powder is on the rise, particularly in the manufacturing of catalysts for chemical processes, as industries aim to optimize their production methods to achieve better yields and energy efficiency.

Rhodium sponge, characterized by its porous structure, is widely used in the automotive industry, especially in the production of catalytic converters. Its increased surface area allows for higher reactivity, making it an excellent medium for reducing vehicle emissions. The sponge form of rhodium is also favored in certain chemical applications where enhanced catalytic properties are required. With the automotive industry being a major consumer, the demand for rhodium sponge is expected to grow in tandem with the increasing production and sales of vehicles globally.

Rhodium ingots, on the other hand, are utilized in applications that require bulk rhodium, such as in the production of high-value jewelry and in certain industrial processes. The ingot form

Gold and silver prices increased over the course of 2021, but these did not grow as fast as the prices of iridium and, especially, rhodium. According to a comparison of price indices, the price for rhodium - a precious metal similar to platinum and used especially in catalytic converters of cars - was ten times higher in April 2021 than it was in January 2019. The price hike for rhodium was apparently caused by coronavirus-related lockdowns implemented in South Africa, where mining companies had to close for several weeks.

Palladium fell to 1,403 USD/t.oz on October 21, 2025, down 7.06% from the previous day. Over the past month, Palladium's price has risen 17.21%, and is up 30.94% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Palladium - values, historical data, forecasts and news - updated on October of 2025.

The Rhodium(III) Sulfate market, currently valued at approximately $30 million in 2025, is projected to experience steady growth, exhibiting a Compound Annual Growth Rate (CAGR) of 4.1% from 2025 to 2033. This growth is driven by increasing demand from key industries such as automotive catalysts, where rhodium's catalytic properties are crucial for emissions control in gasoline-powered vehicles. The rise in electric vehicle adoption presents a potential challenge, but the ongoing need for efficient catalysts in hybrid vehicles and the expanding applications of rhodium in other sectors, including chemical synthesis and electronics, are expected to offset this somewhat. Furthermore, advancements in refining techniques and increased recycling initiatives could contribute to a more stable and potentially expanding supply, although geopolitical factors and the inherent scarcity of rhodium itself remain considerable constraints. Companies like Heraeus Precious Metals, SAFINA, a.s., and Tanaka Holdings, along with other key players, are well-positioned to benefit from this growth, although competition is likely to intensify as demand increases. The market’s segmentation, while not fully detailed, likely includes distinctions based on purity levels, application, and geographic location, each influencing pricing and market dynamics. The forecast period (2025-2033) anticipates a continued, albeit moderate, expansion of the Rhodium(III) Sulfate market. While the CAGR remains relatively modest, consistent growth is expected due to continued industrial demand, albeit at a pace tempered by the inherent volatility of precious metal markets and potential fluctuations in global economic activity. Innovation in catalyst technologies and the development of new applications for rhodium are potential growth catalysts. However, regulatory changes affecting emissions standards, fluctuations in rhodium prices, and the inherent limitations of supply associated with the element's scarcity could pose significant challenges and affect the overall market trajectory during the forecast period. Therefore, strategic market positioning, focused research and development, and robust supply chain management will be crucial for success in this specialized market.

The Platinum-Rhodium Alloy market is experiencing robust growth, driven by increasing demand across diverse sectors. While precise figures for market size and CAGR are unavailable from the provided data, a reasonable estimation can be made based on industry knowledge and typical growth rates for high-value specialty metals. Considering the applications of platinum-rhodium alloys in crucial sectors like the automotive catalytic converters (for emission control), high-temperature applications (crucibles, thermocouples), and the chemical industry (catalysts), a conservative estimate for the 2025 market size would be around $750 million. Given the ongoing technological advancements and the inherent properties making platinum-rhodium alloys irreplaceable in many applications, a compounded annual growth rate (CAGR) of approximately 5-7% over the forecast period (2025-2033) appears plausible. This translates to a market size exceeding $1.2 billion by 2033. This growth is fueled by several key drivers. The automotive industry's stringent emission regulations are a significant factor, driving demand for high-performance catalytic converters. Furthermore, the expansion of the chemical and electronics industries, with their need for durable and highly resistant materials in various applications, contributes significantly to market growth. However, price volatility of platinum and rhodium, along with the exploration of alternative materials, pose challenges to the market's continued expansion. The market is segmented based on application (e.g., automotive, chemical, electronics) and geographic regions (North America, Europe, Asia-Pacific, etc.), with specific regional market share varying based on industrial development and regulatory landscapes. Key players, including Tanaka, American Elements, and others, compete based on product quality, technological innovation, and pricing strategies. Future market performance will depend on the continued adoption of clean technologies, macroeconomic conditions, and technological breakthroughs in material science.

The platinum-rhodium alloy market is experiencing robust growth, driven primarily by its unique properties—high melting point, excellent corrosion resistance, and superior catalytic activity—making it indispensable in various high-tech applications. The automotive industry, specifically catalytic converters for emission control, remains a significant consumer, contributing substantially to market value. However, the increasing demand for cleaner energy and stringent emission regulations are pushing innovation in catalytic converter design, leading to optimized alloy compositions and potentially altering the market share of different alloy types within the platinum-rhodium segment. Growth is further fueled by its use in high-temperature applications within aerospace and industrial processes. While precise market sizing requires specific data, considering the current value of the platinum group metals (PGMs) market and the relatively high proportion of rhodium within platinum alloys, a reasonable estimate for the 2025 market size could be in the range of $500-700 million. A conservative Compound Annual Growth Rate (CAGR) of 5-7% over the forecast period (2025-2033) seems plausible, given the steady, though not explosive, growth projected for the sectors utilizing these alloys. Market restraints include the inherent volatility in platinum and rhodium prices, subject to fluctuations in supply and demand. Geopolitical factors also play a significant role, impacting mining activities and influencing overall market stability. Furthermore, research into alternative catalyst materials poses a potential long-term challenge, although the superior performance of platinum-rhodium alloys in demanding applications ensures continued relevance. Segment analysis would benefit from further detail, potentially distinguishing between different alloy compositions and their corresponding applications, enabling a deeper understanding of market dynamics and future trends. Key players, such as Tanaka, American Elements, and XI'AN FUNCTION MATERIAL GROUP, are likely to play a defining role in shaping market developments through innovation and strategic partnerships, particularly concerning material sourcing and advanced manufacturing processes. Ultimately, the platinum-rhodium alloy market trajectory is tied closely to technological advancements in emissions control, aerospace, and industrial process optimization.

The rhodium plating services market, currently valued at approximately $35 million in 2025, is projected to experience steady growth, exhibiting a compound annual growth rate (CAGR) of 3.1% from 2025 to 2033. This growth is driven by increasing demand from the automotive industry, where rhodium's exceptional durability and corrosion resistance are highly valued for applications such as catalytic converters and decorative finishes. The electronics sector also contributes significantly, utilizing rhodium plating for its excellent conductivity and resistance to wear, primarily in high-end connectors and contacts. Furthermore, the jewelry industry's continued preference for rhodium plating, due to its ability to enhance the brilliance and longevity of white gold and other precious metals, fuels market expansion. While the market faces potential restraints from fluctuating rhodium prices and the emergence of alternative plating materials, the overall growth trajectory remains positive, underpinned by technological advancements leading to more efficient plating techniques and an expanding global market for sophisticated electronics and luxury goods. The competitive landscape is relatively fragmented, with key players such as Manhattan Gold & Silver, Ross Metals, and others providing a range of services tailored to diverse customer needs. Successful companies are focusing on process innovation, such as developing eco-friendly plating solutions and expanding their service offerings to include specialized finishing processes. Geographic expansion into high-growth regions, coupled with strategic partnerships and acquisitions, are also key strategies employed by leading players. Overall, the rhodium plating services market presents attractive opportunities for businesses capable of adapting to evolving technological advancements and catering to the demand from diverse sectors that value the unique properties of rhodium.

Precious Metal Recovery Market Outlook

The global precious metal recovery market is witnessing a significant expansion, with a market size valued at approximately USD 21 billion in 2023 and projected to reach around USD 38 billion by 2032, growing at a robust CAGR of 6.5% from 2024 to 2032. The growth of this market is primarily driven by the increasing demand for sustainable and efficient recycling processes in various industries, such as electronics and automotive, coupled with technological advancements in recovery processes. As the world becomes more conscious of environmental impacts and resource conservation, the emphasis on recovering valuable metals from waste streams has intensified, providing a lucrative growth trajectory to this market.

One of the significant growth factors in the precious metal recovery market is the escalating volume of electronic waste (e-waste) generated globally. With rapid technological advancements and the resulting obsolescence of gadgets, e-waste is accumulating at an unprecedented rate, creating a vast repository of precious metals waiting to be recovered. Key metals such as gold, silver, palladium, and platinum are abundant in electronic scrap, and their recovery not only offers financial incentives but also reduces environmental pollution. Furthermore, regulatory mandates and policies promoting e-waste recycling augment the growth of the market. Government initiatives around the globe encourage the recycling of electronic components, driving the demand for technologically advanced precious metal recovery solutions.

Another driving factor is the automotive industry's increasing reliance on catalytic converters, which contain precious metals like platinum, palladium, and rhodium. As vehicle production scales up, particularly in emerging economies, the demand for catalytic converter recycling rises significantly. The metal recovery from automotive catalysts not only contributes to resource efficiency but also aids in the compliance with stringent environmental regulations aimed at reducing vehicular emissions. With the continuous development of hybrid and electric vehicles, the automotive sector remains a critical contributor to the growth of the precious metal recovery market.

Moreover, the global emphasis on sustainable industrial practices has led to the adoption of recycling and recovery processes in the chemical and jewelry industries. These industries are investing heavily in recycling techniques to minimize waste and optimize resource utilization, thereby driving market growth. The chemical industry, in particular, involves processes that yield industrial waste containing precious metals, which can be efficiently recycled. Similarly, the jewelry industry, driven by fluctuating precious metal prices and ethical sourcing challenges, is increasingly focusing on metal recovery to meet demand sustainably. This shift towards sustainability is expected to further propel the market expansion.

Noble Metal Recycling has emerged as a pivotal component within the broader context of precious metal recovery. As industries strive to enhance sustainability and resource efficiency, the recycling of noble metals such as gold, platinum, and palladium is gaining traction. These metals, known for their exceptional resistance to corrosion and oxidation, are integral to various high-tech applications, including electronics, automotive catalytic converters, and medical devices. By focusing on the recycling of noble metals, industries not only reduce the environmental impact associated with mining and refining but also secure a stable supply of these critical materials. The advancement of recycling technologies is further enabling the efficient recovery of noble metals from complex waste streams, reinforcing their role in the circular economy.

From a regional perspective, Asia Pacific is expected to dominate the market, owing to rapid industrialization, a surge in electronic manufacturing, and the presence of major automobile producers. North America and Europe follow closely, driven by stringent environmental regulations and advanced technological capabilities. In Latin America and the Middle East & Africa, the market is anticipated to grow steadily, supported by increasing awareness of recycling benefits and ongoing infrastructure developments. These regions are witnessing a gradual shift towards adopting sophisticated recovery technologies to enhance the efficiency and yield of precious metal extraction processes.

Technology Analysis

Indonesia Export: Value: Rhodium in Semi-Manufactured Forms data was reported at 0.070 USD mn in Oct 2022. This records an increase from the previous number of 0.043 USD mn for Jun 2021. Indonesia Export: Value: Rhodium in Semi-Manufactured Forms data is updated monthly, averaging 0.043 USD mn from Oct 2020 (Median) to Oct 2022, with 5 observations. The data reached an all-time high of 0.107 USD mn in Mar 2021 and a record low of 0.000 USD mn in Oct 2020. Indonesia Export: Value: Rhodium in Semi-Manufactured Forms data remains active status in CEIC and is reported by Statistics Indonesia. The data is categorized under Indonesia Premium Database’s Foreign Trade – Table ID.JAH071: Foreign Trade: by HS 8 Digits: Export: HS71: Natural, Cultured Pearls, Precious, Semi-Precious Stones, Precious Metals, Metals Clad with Precious Metal, and Articles Thereof, Imitatio.

The global rhodium market size reached USD 2.1 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 3.4 Billion by 2033, exhibiting a growth rate (CAGR) of 5.18% during 2025-2033. The rising demand for catalytic converters from the automotive industry, growing demand for EVs, their unique catalytic properties, and expanding product application across diverse industries such as electronics, chemical, and jewelry are some of the major factors propelling the market.

IMARC Group provides an analysis of the key trends in each segment of the global rhodium market report, along with forecasts at the global, regional and country levels for 2025-2033. Our report has categorized the market based on source, product type, application, and end use industry.

Rhodium Market Outlook

According to our latest research, the global rhodium market size reached USD 2.45 billion in 2024, with a robust compound annual growth rate (CAGR) of 6.8% anticipated through the forecast period. By 2033, the market is projected to attain a value of USD 4.77 billion, reflecting the sectorÂ’s steady expansion. The primary growth factor driving this upward trajectory is the surging demand for rhodium in automotive catalytic converters, underpinned by increasingly stringent emission regulations worldwide. This trend is further bolstered by the metalÂ’s unique properties, which make it indispensable across several high-value industrial applications.

One of the pivotal growth drivers in the rhodium market is its critical role in the automotive industry, particularly in the manufacturing of catalytic converters. As governments across the globe enforce stricter emission norms to combat air pollution and climate change, automakers are compelled to integrate more advanced and efficient catalytic systems into their vehicles. Rhodium, with its exceptional catalytic properties, is a key component in reducing nitrogen oxide emissions from automotive exhausts. This regulatory push, combined with the global shift towards cleaner transportation, has significantly increased the demand for rhodium, thereby fueling the marketÂ’s expansion.

Another major factor contributing to the growth of the rhodium market is its diverse range of applications beyond the automotive sector. The metalÂ’s outstanding chemical stability, corrosion resistance, and high reflectivity make it highly sought after in the chemical manufacturing, electrical & electronics, and jewelry sectors. In electronics, rhodium is used for plating connectors and contacts due to its superior conductivity and resistance to oxidation. In the jewelry industry, the demand for rhodium-plated items continues to rise, driven by consumer preference for durable and lustrous finishes. The growing adoption of rhodium in these non-automotive applications adds further impetus to the marketÂ’s overall growth.

Supply-side dynamics also play a crucial role in shaping the rhodium market. Rhodium is one of the rarest and most valuable precious metals, with limited global production primarily concentrated in South Africa, Russia, and a few other regions. The constrained supply, coupled with periodic disruptions in mining activities, often leads to price volatility, which can impact both demand and investment patterns in the market. Nevertheless, ongoing advancements in recycling technologies and the increasing recovery of rhodium from spent catalysts are helping to mitigate supply risks and stabilize market conditions, supporting sustainable growth over the forecast period.

From a regional perspective, Asia Pacific stands out as the dominant market for rhodium, accounting for the largest share of global consumption in 2024. This is largely attributed to the regionÂ’s burgeoning automotive industry, particularly in China, Japan, and India, where vehicle production and sales continue to grow at a rapid pace. Europe and North America also represent significant markets, driven by stringent environmental regulations and robust demand from the chemical and electronics sectors. Meanwhile, Latin America and the Middle East & Africa are emerging as promising markets, supported by rising industrialization and increased investment in automotive and manufacturing sectors. This diverse regional landscape underscores the global significance and resilience of the rhodium market.

In addition to rhodium, the market for Iridium is also witnessing significant interest due to its unique properties and applications. Iridium, known for its high density and corrosion resistance, is increasingly being utilized in various industrial sectors, including electronics and aerospace. Its ability to withstand extreme temperatures makes it an ideal choice for spark plugs and crucibles used in high-temperature applications. As industries continue to innovate, the demand for iridium is expected to grow, paralleling the trends observed in the rhodium market. This growth is further supported by advancements in iridium-based technologies and the exploration of new applications, which are opening up additional avenues for market expansion.

Statistics illustrates monthly prices of metals; rhodium, semi-manufactured in the United States from January 2019 to September 2025.

Statistics illustrates prices of metals; rhodium, semi-manufactured in Micronesia from 2007 to 2024.

5164 Global export shipment records of Rhodium Metal with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

As of May 2025, it was estimated that the global supply of rhodium stood at approximately 691,000 ounces. Rhodium is considered one of the rarest and most valuable metals in the world. Rhodium: the rare PGM Rhodium is a silver-colored platinum group metal (PGM) that is highly reflective and resistant to corrosion and oxidation. Platinum group metals include rhodium, platinum, ruthenium, iridium, osmium, and palladium. Rhodium is the rarest metal in the platinum family and occurs in the Earth’s crust at a rate of around one part per 200 million. It is primarily used in catalytic converters to clean motor emissions or as a finishing metal for jewelry. Despite having a stable supply globally, the demand for rhodium has been increasing over time. Platinum-group metals: expensive precious metals Platinum-group metal mine production has been stable in recent years. Platinum is one of the most expensive metals to produce due to its low concentration within the ore from which it is mined. The price of production varies greatly between the countries in which it is produced, with South Africa having the highest cost of production for platinum. The world’s leading producer of platinum as of 2019 was Anglo American Platinum Ltd.