Iridium recovery_ Market Prospect of Iridium Metal Recycling

Iridium is one of the rarest and most expensive metals in the world. This dense silver white transition metal has many unique properties, making it highly sought after in various industries including aerospace, electronics, and medicine. As the demand for iridium continues to grow, but its supply is limited, there is an increasing need for iridium recycling as a way to mitigate supply chain risks and reduce dependence on new mining. Iridium is mainly mined as a byproduct of platinum and nickel mines around the world. It is estimated that the annual production of iridium ranges from 3 to 4 tons, making it one of the rarest metals on Earth. This limited supply, coupled with growing demand, has made iridium one of the most expensive metals in the world, with current prices fluctuating around 1105 yuan per gram.

The aerospace industry is one of the largest users of iridium because it is used to produce turbine engines for Jet aircraft. Due to its high melting point, corrosion resistance, and high-temperature stability, iridium is a key metal in the aerospace industry. Due to its use in the production of LCD displays, hard drives, and other electronic components, the electronics industry is also a major consumer of iridium. In addition, the medical industry also uses iridium for cancer treatment through radioactive isotopes. Although iridium recycling has existed for decades, it is usually a Niche market due to limited supply and high costs. However, the latest developments in recycling technology and advances in waste metal collection have made iridium recycling a more feasible option. In fact, it is expected that iridium recycling will play an important role in meeting the demand for this rare metal in the coming years.

One of the key driving forces for iridium recycling is the concept of circular economy. As the world increasingly recognizes environmental sustainability, various industries are facing increasing pressure to reduce their environmental footprint and adopt more sustainable practices. Recycling iridium not only reduces the amount of waste going to landfills, but also reduces the demand for new mining, which may have significant impacts on the environment and local communities. Another driving force for iridium recycling is the growing demand for new technologies that rely on iridium. As mentioned above, the aerospace and electronics industries are the main consumers of iridium. With the rapid pace of technological development, it is expected that the demand for iridium will only increase in the coming years. Recycling iridium can help ensure that these industries have access to the key materials needed to develop new and innovative products.

The recycling process of iridium is complex and requires advanced technology. It typically involves a combination of smelting, chemical treatment, and electrolysis to separate iridium from other metals and impurities. Due to its high value, recycling requires strict control of the recycling process to ensure that metals are not lost or wasted. However, the cost associated with iridium recovery has always been a major obstacle to its widespread adoption. The high recycling costs make it difficult for recyclers to compete with raw materials in the market. However, in recent years, advances in technology and process efficiency have helped to lower costs, making it more likely for recyclers to enter the market. Compared to raw materials, the market for recyclable iridium is still relatively small, but it is expected to grow in the coming years. According to a report by Market and Markets, the recycled metal market is expected to grow at a compound annual growth rate of 6.5% from 2019 to 2025. Although iridium only accounts for a small portion of the entire recycled metal market, it is expected to make a significant contribution to this growth.

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