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How big is the ruthenium market?
Is ruthenium a popular precious metal? Or is it fading in popularity?
Which country is the largest producer of ruthenium in the world?
Find out in my updated ruthenium 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 Ruthenium Industry Statistics, Facts and Trends| Detailed Ruthenium Industry Statistics, Facts and Trends for this Year
Table of Contents
Key Ruthenium Industry Statistics, Facts and Trends
Key Ruthenium Industry Statistics, Facts and Trends for 2025
- The global ruthenium market was valued at $5.1 billion in 2023 and is projected to reach $7.7 billion by 2032 with a CAGR of 4.8%. (Source)
- Global demand for ruthenium currently stands at roughly 1 million ounces (~28 metric tons) per year. Demand for ruthenium is steadily growing as people find new uses for this noble metal and the demand is expected to reach 2.3 million ounces by 2032. (Source)
- Roughly 30 metric tons (1,058,218 ounces) of ruthenium are produced each year. This production is primarily a byproduct of platinum mining. (Source)
- World’s primary producers of ruthenium are South Africa and Russia. China, United States, Brazil, Canada and Australia are also ruthenium producers on a smaller scale. (Source)
- Ruthenium is extremely rare as it’s only the 74st most abundant element in the Earth’s crust. There’s approximately 5 000 metric tones of ruthenium left to be extracted from the ground. (Source)
- South Africa has 2500 metric tones of ruthenium on its territory, or roughly 50% of the global ruthenium reserves of just 5000 metric tons. The largest known ruthenium reserves in South Africa are in the Bushveld Igneous Complex. (Source)
- South Africa produces 51% (roughly 15 metric tons) of world’s ruthenium per year. (Source)
- Russia has 2000 metric tones of ruthenium on its territory, or roughly 40% of the global ruthenium reserves of just 5000 metric tons. The largest known ruthenium reserves in Russia are in Ural Mountains region, where ruthenium is mined alongside platinum. Ruthenium’s also found in the Norilsk-Talnakh deposit in Siberia. (Source)
- Russia produces 39% (roughly 12 metric tons) of world’s ruthenium per year. (Source)
- United States has 100 metric tones of ruthenium on its territory, or roughly 2% of the global ruthenium reserves of just 5000 metric tons. The largest known ruthenium reserves in United States are in Montana, specifically at the Stillwater and East Boulder mines, which are part of the Stillwater Complex. Smaller ruthenium mining operations and reserves can also be found in Alaska, Arizona, and Minnesota. (Source)
- United States produces 600kg (roughly 2%) of world’s ruthenium per year. (Source)
- China has 200 metric tones of ruthenium on its territory, or roughly 4% of the global ruthenium reserves of just 5000 metric tons. The largest known ruthenium reserves in China are in Gansu, Yunnan, and Sichuan provinces. (Source)
- China produces 900kg (roughly 3%) of world’s ruthenium per year. (Source)
- Brazil has 50 metric tones of ruthenium on its territory, or roughly 1% of the global ruthenium reserves of just 5000 metric tons. The largest known ruthenium reserves in Brazil are in eastern Brazil, particularly in the states of Minas Gerais and Ceará. (Source)
- Brazil produces 300kg (roughly 1%) of world’s ruthenium per year. (Source)
- Australia has 100 metric tones of ruthenium on its territory, or roughly 2% of the global ruthenium reserves of just 5000 metric tons. The largest known ruthenium reserves in Australia are located in Western Australia, with notable projects like the Gonneville Nickel-Copper-Platinum Group Element (PGE) Project near Perth and the Panton Sill Project in the Kimberley region. Alluvial deposits containing platinum have also been found in Victoria, near Foster. (Source)
- Australia produces 400kg (roughly 1.33%) of world’s ruthenium per year. (Source)
- Canada has 150 metric tones of ruthenium on its territory, or roughly 3% of the global ruthenium reserves of just 5000 metric tons. The largest known ruthenium reserves in Canada are primarily located in Ontario, particularly within the Sudbury Basin. Ruthenium has also been found in Quebec and Manitoba. (Source)
- Canada produces 200kg (roughly 0.66%) of world’s ruthenium per year. (Source)
- 0.1% of ruthenium is used in creating pure ruthenium bullion for interested investors. (Source)
- 10% of ruthenium mined during the year is used in producing exquisite and extremely expensive jewelry pieces. (Source)
- 89.9% of ruthenium mined during the year is used up in various industries, especially where ruthenium is the unique metal for the job. (Source)
- Roughly 3.2 metric tons of ruthenium is recycled per year, representing less than 10% of the ruthenium available during a calendar year. It’s less than 10% because these extra 3 metric tons of ruthenium are available in addition to ruthenium mined each year (roughly 30 metric tons). (Source)
- The global ruthenium recycling market is growing, with current market value of $604 million and a projected market value of $1,153.6 million by 2032. (Source)
Detailed Ruthenium Industry Statistics, Facts and Trends for this Year
What is the Global Ruthenium Market Value?
The global ruthenium market was valued at $5.1 billion in 2023 and is projected to reach $7.7 billion by 2032 with a CAGR of 4.8%. (Source)
| Year | Value (in billions) |
|---|---|
| 2020 | 3.3 |
| 2021 | 3.8 |
| 2022 | 4.2 |
| 2023 | 5.1 |
| 2024 | 5.4 |
| 2032 | 7.7 |
What’s the Global Demand for Ruthenium?
Global demand for ruthenium currently stands at roughly 1 million ounces (~28 metric tons) per year. Demand for ruthenium is steadily growing as people find new uses for this noble metal and the demand is expected to reach 2.3 million ounces by 2032. (Source)
How Much Ruthenium is Produced Per Year?
Roughly 30 metric tons (1,058,218 ounces) of ruthenium are produced each year. This production is primarily a byproduct of platinum mining. (Source)
World’s primary producers of ruthenium are South Africa and Russia with China, United States, Brazil, Canada and Australia contributing on a smaller scale. (Source)
Ruthenium is extremely rare as it’s only the 74st most abundant element in the Earth’s crust. There’s approximately 5 000 metric tones of ruthenium left to be extracted from the ground. (Source)
South Africa has 2500 metric tones of ruthenium on its territory, or roughly 50% of the global ruthenium reserves of just 5000 metric tons. (Source)
The largest known ruthenium reserves in South Africa are in the Bushveld Igneous Complex.
There ruthenium is mined alongside other metals from platinum metals group, especially platinum (South Africa produces 120-150 metric tons of platinum per year) and palladium (South Africa produces roughly 71 metric tons of palladium per year and by 2032 that palladium output will reach 80 metric tons per year). (Source)
South Africa produces 51% (roughly 15 metric tons) of world’s ruthenium per year. (Source)
Russia has 2000 metric tones of ruthenium on its territory, or roughly 40% of the global ruthenium reserves of just 5000 metric tons. The largest known ruthenium reserves in Russia are in Ural Mountains region, where ruthenium is mined alongside platinum, palladium and osmium (Russia produces 33.3% of world’s osmium per year). (Source)
Ruthenium in Russia is also found in the Norilsk-Talnakh deposit in Siberia. (Source)
Russia produces 39% (roughly 12 metric tons) of world’s ruthenium per year. (Source)
United States has 100 metric tones of ruthenium on its territory, or roughly 2% of the global ruthenium reserves of just 5000 metric tons. (Source)
The largest known ruthenium reserves in United States are in Montana, specifically at the Stillwater and East Boulder mines, which are part of the Stillwater Complex. Smaller ruthenium mining operations and reserves are found in Alaska, Arizona, and Minnesota. (Source)
Within the USA platinum metal group deposits ruthenium is mined alongside platinum, palladium, iridium (United States produce 0.1 metric tons (roughly 3520 ounces) of iridium per year), osmium and rhodium. (Source)
United States produces 600kg (roughly 2%) of world’s ruthenium per year. (Source)
China has 200 metric tones of ruthenium on its territory, or roughly 4% of the global ruthenium reserves of just 5000 metric tons. The largest known ruthenium reserves in China are in Gansu, Yunnan, and Sichuan provinces where ruthenium is mined alongside platinum, palladium, osmium, iridium and rhodium. (Source)
China produces 900kg (roughly 3%) of world’s ruthenium per year. (Source)
Brazil has 50 metric tones of ruthenium on its territory, or roughly 1% of the global ruthenium reserves of just 5000 metric tons. The largest known ruthenium reserves in Brazil are in eastern Brazil, particularly in the states of Minas Gerais and Ceará. (Source)
Brazil produces 300kg (roughly 1%) of world’s ruthenium per year. (Source)
Australia has 100 metric tones of ruthenium on its territory, or roughly 2% of the global ruthenium reserves of just 5000 metric tons. (Source)
The largest known ruthenium reserves in Australia are located in Western Australia, with notable projects like the Gonneville Nickel-Copper-Platinum Group Element (PGE) Project near Perth and the Panton Sill Project in the Kimberley region. (Source)
Alluvial deposits containing platinum have also been found in Victoria, near Foster. (Source)
Australia produces 400kg (roughly 1.33%) of world’s ruthenium per year. (Source)
Canada has 150 metric tones of ruthenium on its territory, or roughly 3% of the global ruthenium reserves of just 5000 metric tons. (Source)
The largest known ruthenium reserves in Canada are primarily located in Ontario, particularly within the Sudbury Basin where ruthenium is mined alongside platinum, palladium, osmium, iridium and rhodium (Canada produces roughly 0.4 metric tons of rhodium per year as byproduct of mining of other metals from the platinum group.). (Source)
Ruthenium has also been found in Quebec and Manitoba. (Source)
Canada produces 200kg (roughly 0.66%) of world’s ruthenium per year.
How is Mined Ruthenium Commercially Used?
0.1% of ruthenium is used in creating pure ruthenium bullion for interested investors. (Source)
Ruthenium isn’t a gold IRA-eligible precious metal (meaning ruthenium can’t be a part of an investor’s gold IRA account), but pure ruthenium bullion easily finds interested investors and buyers.
10% of ruthenium mined during the year is used in producing exquisite and extremely expensive jewelry pieces. (Source)
Ruthenium is used in jewelry as a plating material to give a dark, grey-black finish to other metals like silver and white gold.
Alloyed with platinum and palladium ruthenium enhances their strength and durability, making them more resistant to wear and tear.
Here’s an example of a silver ring plated in ruthenium giving it a distinct ultra-modern black look.
89.9% of ruthenium mined during the year is used up in various industries, especially where ruthenium is the unique metal for the job. (Source)
Ruthenium is mostly used chemical and electronic industries (50 and 40%, respectively).
In the electronics industry ruthenium is mostly used in creating:
- Chip resistors and thick-film resistors.
- Hard disk drives and data storage devices.
- Electrical contacts and connectors
- Supercapacitors
In the chemical industry ruthenium is mostly used in:
- Catalysts for ammonia and acetic acid production.
- Electrochemical cell anodes for chlorine production.
- Various chemical processing applications
Growing applications of ruthenium.
Ruthenium is also more and more used in:
- Solar cells and photovoltaic devices.
- Semiconductor manufacturing.
- Memory chips and advanced electronics
- Aerospace applications.
How Much Ruthenium is Recycled During a Calendar Year?
Roughly 3.2 metric tons of ruthenium is recycled each year.
3.2 metric tons is less than 10% of the ruthenium available during a calendar year. It’s less than 10% because these extra 3 metric tons is ruthenium available in addition to 30 metric tons of ruthenium mined each year (Source)
The global ruthenium recycling market is growing, with current market value of $604 million and a projected market value of $1,153.6 million by 2032. (Source)
| 2020 | 450 |
| 2021 | 470 |
| 2022 | 515 |
| 2023 | 598 |
| 2024 | 604 |
| 2032 | 1154 |
This growth is driven by increased abundance of ruthenium above the ground and used for various purposes. Simply put, as more and more ruthenium gets extracted each year there’s more of it to recycle.
Ruthenium Industry Statistics, Facts Trends and Data Guide (Conclusion)
My updated guide for 2025 lists the best and latest statistics, facts, trends and data about ruthenium 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:
- Ruthenium Market Size, Share & Industry Analysis, By Type (Dry and Liquid), By Application (Electrical and Electronics, Chemical, Pharmaceutical, and Others), and Regional Forecast. https://www.fortunebusinessinsights.com/ruthenium-market-108084
- U.S. Ruthenium Market Size, Share & COVID-19 Impact Analysis, By Type (Dry and Liquid), By Application (Electrical & Electronics, Chemicals, Pharmaceuticals, and Others), and Country Forecast, https://www.fortunebusinessinsights.com/u-s-ruthenium-market-109109
- Ruthenium Metal Market Size, Share, Growth, and Industry Analysis, By Type (Pure Ruthenium, Ruthenium Alloys), By Application (Electronics, Automotive Catalysts, Electrical Contacts, Fuel Cells), Regional Insights and Forecast –https://www.marketgrowthreports.com/market-reports/ruthenium-metal-market-113622
- Ruthenium – Platinum Group Metals Market Statistics- https://www.grandviewresearch.com/horizon/statistics/platinum-group-metals-market/metal-type/ruthenium/global
- Distribution of ruthenium demand worldwide- https://www.statista.com/statistics/1305822/worldwide-share-of-ruthenium-demand-by-sector/
- Ruthenium Market Growth Outlook- https://www.factmr.com/report/ruthenium-market
- Our latest ruthenium price view from an expert team- https://www.sfa-oxford.com/platinum-group-metals/pgm-market-reports/quarterly-ruthenium-market-report-and-ruthenium-price-outlook/
- Ruthenium Market, By Form (Dry/Powder, Liquid Gaseous), By Distribution (Online, Offline), By Application (Electrical Energy, Chemical Catalyst), By End-Use (Electronics, Chemicals, Pharmaceuticals) and by Region Forecast- https://www.emergenresearch.com/industry-report/ruthenium-market
- Ruthenium Metal Market
Segments – by Product Form (Powder, Granules, Pellets, and Others), Application (Electronics, Chemical Manufacturing, Jewelry, Automotive, and Others), End-User Industry (Electronics, Automotive, Chemical, Jewelry, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa)- https://dataintelo.com/report/global-ruthenium-metal-market - My first go at black ruthenium plating. Silver plated in palladium, then gold, then black ruthenium. 1.5mm gems- https://www.reddit.com/r/jewelry/comments/t1n3ab/my_first_go_at_black_ruthenium_plating_silver/
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.