Iridium Industry Statistics, Facts Trends and Data for 2025

Disclosure: Some of the links you’ll encounter are affiliate links. If you click and buy something, I’ll get a commission. If you’re reading a review of some precious metals company, please understand that some of the links are affiliate links that help me pay my bills and write about what I love with no extra cost to you. Thank you!

How big is the iridium market?

Is iridium a popular precious metal? Or is it fading in popularity?

Which country is the largest producer of iridium in the world?

Find out in my updated iridium industry statistics guide for 2025.

Use this jump link to jump to the KEY STATS section.

All the references and resources I used in crafting my stats guide are listed at the bottom of the page.

Jump here: Key Iridium Industry Statistics, Facts and Trends| Detailed Iridium Industry Statistics, Facts and Trends for this Year

Iridium Industry Statistics, Facts Trends and Data for 2025
Iridium Industry Statistics, Facts Trends and Data for 2025

Key Iridium Industry Statistics, Facts and Trends

Key Iridium Industry Statistics, Facts and Trends for 2025

  • The global iridium market was valued at $2.7 billion in 2024. The market is growing and projected to reach $4 billion by 2032, growing at a 5.3% CAGR. (Source)
  • Global iridium supply per year is roughly 248 000 ounces, and the demand averages around 224,000 ounces per year. Meaning there’s currently a surplus of iridium on the market. However, the demand for iridium is steadily increasing as people find new uses for this noble metal. So, it’s predicted that global demand for iridium in 2032 will reach 800 000 ounces per year, which will be more than the top iridium mining countries can reliably extract. (Source)
  • Annual iridium production growth has averaged only 1-2% over the past decade. (Source)
  • Iridium is one of the rarest elements on Earth, with an abundance of only 0.001 parts per million in the Earth’s crust. (Source)
  • The countries with the largest iridium reserves in the world are South Africa, Russia, Canada, Zimbabwe and United States. These countries are also the world’s biggest iridium producers and suppliers and they control over 85% of the global iridium supply. (Source)
  • South Africa has 250 tones of iridium on its territory, or roughly 50% of the global iridium reserves of just 500 tons. The largest known iridium reserves in South Africa are in the Bushveld Igneous Complex. (Source)
  • South Africa produces 6.16 metric tons (approximately 198,000 ounces) of iridium per year.
  • Russia has 50 tones of iridium on its territory, or roughly 10% of the global iridium reserves of just 500 tons. The largest known iridium reserves in Russia are copper-nickel deposits near Norilsk and the Kola Peninsula. (Source)
  • Russia produces 0.25 metric tons (roughly 8800 ounces) of iridium per year. (Source)
  • Canada has 25 tones of iridium on its territory, or roughly 5% of the global iridium reserves of just 500 tons. The largest known iridium reserves in Canada are found in Ontario, Quebec, Manitoba and British Columbia. (Source)
  • Canada produces 0.3 metric tons (roughly 10 581 ounces) of iridium per year. (Source)
  • Zimbabwe has 75 tones of iridium on its territory, or roughly 15% of the global iridium reserves of just 500 tons. The largest known iridium reserves in Great Dyke, a geological formation known for mining of all platinum group metals (PGMs). (Source)
  • Zimbabwe produces 0.8 metric tons ( roughly 28 216 ounces) of iridium per year. (Source)
  • United States have 20 tones of iridium on its territory, or roughly 4% of the global iridium reserves of just 500 tons. The largest known iridium reserves in the USA are in Alaska, Wyoming and Montana. (Source)
  • United States produce 0.1 metric tons (roughly 3520 ounces) of iridium per year. (Source)
  • Iridium mining operations are becoming more expensive due to deeper mining requirements and increased labor costs. For example, South African mines are older and more depleted, leading to lower yields and higher costs. (Source)
  • 60% to 70% of iridium is used in industrial applications. These applications span various sectors, including electrochemical processes, electrical components, chemical catalysts, and high-temperature crucibles. Iridium is primarily used in high-temperature and high-wear applications due to its exceptional hardness, high melting point, and resistance to corrosion. (Source)
  • 2% of iridium is used in creating pure iridium bullion for interested investors. (Source)
  • 26% to 34% of iridium mined during the year is used in producing exquisite and extremely expensive jewelry pieces. And even though there’s pure iridium jewelry, most of it is either alloyed with other precious metals or serves as coating above some other base metal. (Source)
  • Roughly 1.3 metric tons of  iridium is gotten through recycling every year. This is an educated estimate as a precise global figure for iridium recycling isn’t readily available. Because much of the iridium recycling happens within the same industry or application (“closed-loop” recycling), rather than being sold as secondary material on the open market. This “closed-loop” recycling significantly reduces the demand for new iridium from mining, and it also hides the real iridium recycling numbers. (Source)
  • The amount of recycled iridium gradually increases YoY. It’s because every year as more iridium is extracted there’s more of it used across various industries than the year before. Which means more places it can be recycled from down the line. (Source)

Detailed Iridium Industry Statistics, Facts and Trends for this Year

What is the Value of the Global Iridium Market Value?

The global iridium market was valued at $2.7 billion in 2024. The iridium market is growing and projected to reach $4 billion by 2032, growing at a 5.3% CAGR. (Source)

What is the Value of the Global Iridium Market Value?
What is the Value of the Global Iridium Market Value?

How Much Iridium is Produced Per Year?

Global iridium supply per year is roughly 248 000 ounces, and the demand averages around 224,000 ounces per year. (Source)

Meaning there’s currently a surplus of iridium on the market. However, the demand for iridium is steadily increasing as people find new industrial uses for this noble metal.

So, it’s predicted that global demand for iridium in 2032 will reach 800 000 ounces per year, which will be more than the top iridium mining countries can reliably extract. (Source)

Annual iridium production growth has averaged only 1-2% over the past decade. (Source)

How Much Iridium is Produced Per Year?
How Much Iridium is Produced Per Year?

Which Countries are the Biggest Iridium Producers in the World?

The countries that are the biggest iridium producers in the world are South Africa, Russia, Canada, Zimbabwe and United States. These are also the countries with the largest iridium reserves in the world and they control over 85% of the global iridium supply. (Source)

Which Countries are the Biggest Iridium Producers in the World?
Which Countries are the Biggest Iridium Producers in the World?

South Africa has 250 tones of iridium on its territory, or roughly 50% of the global iridium reserves of just 500 tons. The largest known iridium reserves in South Africa are in the Bushveld Igneous Complex. (Source)

South Africa produces 6.16 metric tons (approximately 198,000 ounces) of iridium per year. (Source)

Russia has 50 tones of iridium on its territory, or roughly 10% of the global iridium reserves of just 500 tons. The largest known iridium reserves in Russia are copper-nickel deposits near Norilsk and the Kola Peninsula. (Source)

Russia produces 0.25 metric tons (roughly 8800 ounces) of iridium per year. (Source)

Canada has 25 tones of iridium on its territory, or roughly 5% of the global iridium reserves of just 500 tons. The largest known iridium reserves in Canada are found in Ontario, Quebec, Manitoba and British Columbia. (Source)

Canada produces 0.3 metric tons (roughly 10 581 ounces) of iridium per year. (Source)

Zimbabwe has 75 tones of iridium on its territory, or roughly 15% of the global iridium reserves of just 500 tons. The largest known iridium reserves in Great Dyke, a geological formation known for mining of all platinum group metals (PGMs). (Source)

Zimbabwe produces 0.8 metric tons (roughly 28 216 ounces) of iridium per year. (Source)

United States have 20 tones of iridium on its territory, or roughly 4% of the global iridium reserves of just 500 tons. The largest known iridium reserves in the USA are in Alaska, Wyoming and Montana. (Source)

United States produce 0.1 metric tons (roughly 3520 ounces) of iridium per year. (Source)

Note: Iridium is one of the rarest elements on Earth, with an abundance of only 0.001 parts per million in the Earth’s crust. (Source)

And Iridium mining operations are becoming more expensive due to deeper mining requirements and increased labor costs. For example, South African mines are older and more depleted, leading to lower yields and higher costs. (Source)

How is Mined Iridium Commercially Used?

60% to 70% of iridium is used in industrial applications. (Source) These applications span various sectors, including electrochemical processes, electrical components, chemical catalysts, and high-temperature crucibles.

Iridium is primarily used in high-temperature and high-wear applications due to its exceptional hardness, high melting point, and resistance to corrosion. (Source)

2% of iridium is used in creating pure iridium bullion for interested investors.

Note: Iridium bullion isn’t gold IRA approved and can’t be a part of your gold IRA account. (Source)

An example of pure iridium bar
An example of pure iridium bar

26% to 34% of iridium mined during the year is used in producing exquisite and extremely expensive jewelry pieces. And even though there’s pure iridium jewelry, most of it is either alloyed with other precious metals or serves as coating above some other base metal. (Source)

How is Mined Iridium Commercially Used?
How is Mined Iridium Commercially Used?

How Much Iridium is Recycled Each Year?

Roughly 1.3 metric tons of  iridium is recycled each year. This is an educated estimate as a precise global figure for iridium recycling isn’t readily available. Because much of the iridium recycling happens within the same industry or application (“closed-loop” recycling), rather than being sold as secondary material on the open market. (Source)

This “closed-loop” recycling significantly reduces the demand for new iridium from mining, and it also hides the real iridium recycling numbers.

Also worth noting is that the amount of recycled iridium gradually increases YoY. It’s because every year as more iridium is extracted there’s more of it used across various industries than the year before.

Which means more places it can be recycled from down the line. (Source)

Iridium Industry Statistics, Facts Trends and Data Guide (Conclusion)

My updated guide for 2025 lists the best and latest statistics, facts, trends and data about iridium industry and how this precious metal is used worldwide.

I hope you enjoyed it because the guide is now over.

During my research I consulted these resources below:

References:

Nikola Roza

Nikola Roza is a blogger behind Nikola Roza- SEO for the Poor and Determined. He writes for bloggers who don't have huge marketing budget but still want to succeed. Nikola is passionate about precious metals IRAs and how to invest in gold and silver for a safer financial future. Learn about Nikola here.

Leave a Comment