Global Iridium Market to Reach $2 Billion by 2028, Driven by Rising Demand in Satellite Communication and IoT Applications
Dublin, Sept. 22, 2023 (GLOBE NEWSWIRE) -- The "Iridium Market: Trends, Opportunities and Competitive Analysis 2023-2028" report has been added to * ResearchAndMarkets.com's* offering.
The market is expected to achieve an estimated $2.0 billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 5.1% from 2023 to 2028.
The future of the global iridium market appears promising, with significant growth opportunities in catalysts, chemical manufacturing, electrical and electronic applications, and jewelry manufacturing.
Key drivers for this market include the increasing demand for satellite-based communication services, the growing adoption of the Internet of Things (IoT), and the rising usage of iridium in spark plug connections due to its high melting point and low reactivity.
*In-Depth Market Analysis*
A comprehensive report, comprising over 150 pages, has been meticulously developed to assist businesses in making informed decisions.
*Iridium Market Segmentation*
The study provides a detailed forecast for the global iridium market, covering various segments:
*Product Type [Value ($B) Shipment Analysis from 2017 to 2028]*
· Mineral Source
· Recycling Source
*Application [Value ($B) Shipment Analysis from 2017 to 2028]*
· Catalyst
· Chemical Manufacturing
· Electrical and Electronics
· Jewelry
· Others
*Region [Value ($B) Shipment Analysis from 2017 to 2028]*
· North America
· Europe
· Asia Pacific
· The Rest of the World
*Key Players in the Iridium Market*
The report highlights major players in the iridium market. These companies compete based on product quality and focus on expanding manufacturing facilities, investing in research and development, developing infrastructure, and leveraging integration opportunities across the value chain. Some of the iridium companies profiled in this report include:
· Anglo American
· Russian Platinum
· Norilsk Nickel
· Umicore
· Impala
*Iridium Market Insights*
The electrical and electronics segment is expected to witness the highest growth over the forecast period due to the significant use of iridium for electrode coatings in the chlor-alkali process and catalysts, leading to high demand from the electronics industry.
The Asia Pacific region is anticipated to experience the highest growth over the forecast period, driven by the increasing demand for satellite-based communication services and the growing trend of IoT technology in the region.
*Key Features of the Iridium Market Report*
· Market size estimates
· Trend and forecast analysis
· Segmentation analysis
· Regional breakdown
· Growth opportunities analysis
· Strategic analysis, including M&A and competitive landscape
· Competitive intensity analysis based on Porter's Five Forces model
*Key Questions Answered by the Report*
The report answers important questions about the iridium market, including:
· Promising growth opportunities in various segments and regions
· Segments expected to grow rapidly and why
· Regions poised for faster growth and why
· Key factors influencing market dynamics and challenges
· Emerging trends and their drivers
· Changing customer demands
· Notable market developments and leading companies
· Competitive threats and risks
· M&A activity and its impact on the industry
For more information about this report visit https://www.researchandmarkets.com/r/p1zw9c
*About ResearchAndMarkets.com*
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