Ruthenium finds a number of application in the electronics and the chemicals industry, and as a catalyst. In electronics components, the metal was earlier used for making electrical contacts, but is now majorly utilized to produce chip resistors. The chemical industry utilizes ruthenium as an anodes for the production of chlorine in electrochemical cells. As a catalyst, the metal is used for the removal of H2S industrial processes such as oil refinery, ammonia production, acetic acid production, and others. The soaring demand from industrial application is likely to spur sales in the global ruthenium market.
Ruthenium is a rare, hard, transitional metal that is resistant to attacks by hot or cold acids. While the metal does not corrode at room temperature, it undergoes brilliant oxidation in air at a temperature of 800 degree Celsius. When the metal is added to a solution of potassium chlorate, it oxidizes at an explosive rate. The metal dissolves in molten alkali. Ruthenium is freely found in nature, and in abundance in North America, South America, and South Africa.
TMR analysts note some of the key factors impacting the global ruthenium market:
- Perpendicular Magnetic Technology (PMR)
In earlier times, longitudinal recording (LMR) was utilized, which typically had a grain structure. The magnetic orientation of the stored data was longitudinal. In PMR, there is a vertical storage structure offers improved uniformity and thermal stability, better signal-to-noise ratio (SNR) due to enhanced grain separation, and greater writability on account of stronger head fields. Ruthenium is a key material utilized in PMR, and the high adoption of the technology is projected to boost the market.
- Use as a Catalyst
Ruthenium based catalysts are being used on a larger extent in the past few years. A surge in demand for chemicals such as acetic acid and low temperature synthesized ammonia are expected to augur well for the rise of the global ruthenium market in the coming years.
- High Demand from chlor-alkali Industry
Mercury-based technology is being increasingly replaced by diaphragm or membrane cells. This is creating a surge in demand for ruthenium, along with incrementing demand from electrochemical industry in the coming years.
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Above listed are 3 key trends that could bode well for the growth of the global ruthenium market in the forthcoming years. Vendors in the market are expected to capitalize on these trends to gain traction in the industry in the coming years.