Who are the key players in Platinum Market?

Norilsk Nickel, Northam Platinum Limited, Sibanye-Stillwater, Anglo American Platinum Limited and Impala Platinum Holdings Limited are the major companies operating in the Platinum Market. Read More

Which is the fastest growing region in Platinum Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Platinum Market?

In 2024, the Asia-Pacific accounts for the largest market share in Platinum Market. Read More

What years does this Platinum Market cover, and what was the market size in 2023?

In 2023, the Platinum Market size was estimated at 7.79 million ounces. The report covers the Platinum Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Platinum Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Platinum Market Size

Market Size of Platinum Industry

Study Period	2019 - 2029
Base Year For Estimation	2023
CAGR (2024 - 2029)	4.52 %
Fastest Growing Market	Asia-Pacific
Largest Market	Asia-Pacific
Market Concentration	Low
Major Players *Disclaimer: Major Players sorted in no particular order

Platinum Market Analysis

The Platinum Market size is estimated at 8.14 Million ounces in 2024, and is expected to reach 10.15 Million ounces by 2029, growing at a CAGR of 4.52% during the forecast period (2024-2029).

The COVID-19 outbreak caused nationwide lockdowns around the world, disruptions in manufacturing activities and supply chains, and production halts, all of which had a negative impact on the market in 2020. However, conditions began to improve in 2021-2022, which is expected to boost market growth during the forecast period.

Over the long term, increasing usage of platinum in industrial applications will drive the market.
On the flip side, the high product prices are hampering the growth of the market studied.
Electric vehicles (EVs) are becoming more popular, which is driving up the demand for fuel cells. This, in turn, is driving up the demand for platinum, which is good for the market during the forecast period.
Asia-Pacific was the biggest market in the world because of how much platinum was needed for exhaust systems, electronics, making glass, and other things.

Platinum Industry Segmentation

Platinum is a highly unreactive, dense, precious, ductile, silverish-white transition metal that is mostly used in automotive exhaust systems and jewelry. The platinum market is segmented by application and geography. By application, the market is segmented into exhaust systems, jewelry, chemical catalysts, glass production, electronics, and other applications. The report also covers the market size and forecasts for the platinum metal market in 12 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (thousand ounces).

Application
		Exhaust Systems
		Jewelry
		Chemical Catalysts
		Glass Production
		Electronics
		Other Applications

Geography

Asia-Pacific
	China
	India
	Japan
	South Korea
	Rest of Asia-Pacific

North America
	United States
	Canada
	Mexico

Europe
	Germany
	United Kingdom
	Italy
	France
	Rest of Europe

Rest Of The World
	South America
	Middle-East and Africa

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Platinum Market Size Summary

The platinum market is poised for growth over the forecast period, driven by increasing industrial applications and the rising demand for fuel cells in electric vehicles. Despite challenges such as high product prices, the market is expected to benefit from the recovery post-COVID-19 disruptions and the growing popularity of electric vehicles. The Asia-Pacific region, particularly countries like China, India, and Japan, is anticipated to dominate the market due to its substantial demand for platinum in automotive exhaust systems, electronics, and glass production. The automotive sector remains the largest consumer of platinum, with a significant portion used in catalytic converters, although supply chain issues and geopolitical tensions have impacted demand in recent years.

The global platinum market is characterized by consolidation, with major players like Anglo American Platinum Limited, Impala Platinum Holdings Limited, and Sibanye-Stillwater holding significant market shares. Strategic moves such as acquisitions and joint ventures, like Impala's acquisition of Royal Bafokeng Platinum and Heraeus Holding's partnership with BASF SE, are shaping the competitive landscape. These developments aim to enhance production capabilities and market positions, particularly in regions with growing demand. The market's future growth is supported by the increasing use of platinum in various sectors, including automotive, electronics, and jewelry, as well as government initiatives in key regions.

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Platinum Market Size - Table of Contents

1. MARKET DYNAMICS
1. 1.1 Drivers
  1. 1.1.1 Increasing Usage in the Industrial Applications
  2. 1.1.2 Growing Demand for Applications in the Automotive Industry
2. 1.2 Restraints
  1. 1.2.1 High Product Prices
3. 1.3 Industry Value Chain Analysis
4. 1.4 Porter's Five Forces Analysis
  1. 1.4.1 Bargaining Power of Suppliers
  2. 1.4.2 Bargaining Power of Consumers
  3. 1.4.3 Threat of New Entrants
  4. 1.4.4 Threat of Substitute Products and Services
  5. 1.4.5 Degree of Competition
2. MARKET SEGMENTATION (Market Size in Volume)
1. 2.1 Application
  1. 2.1.1 Exhaust Systems
  2. 2.1.2 Jewelry
  3. 2.1.3 Chemical Catalysts
  4. 2.1.4 Glass Production
  5. 2.1.5 Electronics
  6. 2.1.6 Other Applications
2. 2.2 Geography
  1. 2.2.1 Asia-Pacific
    1. 2.2.1.1 China
    2. 2.2.1.2 India
    3. 2.2.1.3 Japan
    4. 2.2.1.4 South Korea
    5. 2.2.1.5 Rest of Asia-Pacific
  2. 2.2.2 North America
    1. 2.2.2.1 United States
    2. 2.2.2.2 Canada
    3. 2.2.2.3 Mexico
  3. 2.2.3 Europe
    1. 2.2.3.1 Germany
    2. 2.2.3.2 United Kingdom
    3. 2.2.3.3 Italy
    4. 2.2.3.4 France
    5. 2.2.3.5 Rest of Europe
  4. 2.2.4 Rest Of The World
    1. 2.2.4.1 South America
    2. 2.2.4.2 Middle-East and Africa