Most people know nothing about the rarest and most expensive metal in the world – rhodium. This shiny, silver-white metal has an extremely high melting point of 1966°C and a boiling point of 3727°C. Rhodium is also extremely strong, resistant to oxidation and corrosion, and possesses excellent catalytic properties. As a result, this element is primarily used in the manufacturing industry as a component of automotive catalytic converters. Approximately 1-2 grams of rhodium can be found in a car catalytic converter. Larger amounts of rhodium (up to ~0.5 grams per unit) can also be found in modern high-powered projectors. In these devices, rhodium is used to make the projector lamp reflectors.
Due to its high price, rhodium (chemical symbol Rh) is found less frequently (and in very small quantities) in common household appliances. It is more commonly used in the manufacture of special glass fibres and in industrial chemistry. Despite the rather specific uses of this metal, the forecast provided by the Market Research Future portal is extremely favourable for the entire rhodium industry. It is predicted that the global market for this metal will grow by around 55 per cent between 2023 and 2032.
Sources:
https://www.britannica.com/science/dysprosium
https://langleyrecyclingkc.com/how-much-rhodium-is-in-a-catalytic-converter/
A guide to PGMs; https://matthey.com/pgm-markes
https://www.marketresearchfuture.com/reports/rhodium-market-11560
