The global Platinum Market study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments including By Source (Primary, Secondary), By Application (Automotive, Jewelry, Industrial, Investment).
In 2024, the Platinum Market continues to be a key player in the global precious metals industry, valued for its diverse applications in automotive catalytic converters, jewelry, industrial catalysts, and electronic components. Platinum's unique properties, including high corrosion resistance, catalytic activity, and conductivity, make it indispensable in various manufacturing processes and end-use applications. The market influenced by factors such as industrial demand, macroeconomic trends, and supply dynamics from primary mining operations and recycling activities. Despite facing challenges such as fluctuating commodity prices and environmental regulations, platinum remains a sought-after investment option and a critical component in sustainable technologies such as fuel cells for hydrogen-powered vehicles. Additionally, ongoing research and development efforts focus on expanding platinum's utility in emerging applications such as renewable energy storage and biomedical devices, further driving market growth. As industries continue to prioritize sustainability and innovation, the platinum market poised for sustained demand, offering opportunities for value creation and technological advancement across diverse sectors.
The global Platinum Market Industry is highly competitive with a large number of companies focusing on niche market segments. Amidst intense competitive conditions, Platinum Market Companies are investing in new product launches and strengthening distribution channels. Key companies operating in the Platinum Market Industry include- African Rainbow Minerals Ltd, Anglo American South Africa Investments Proprietary Ltd, Asahi Group Holdings Ltd, Chimet Spa, Eastern Platinum Ltd, Emerald Jewel Industry India Ltd, Eurasia Mining PLC, Glencore Plc, Heesung PMTech Corp, Heraeus Holding GmbH, Hindustan Platinum Pvt. Ltd, Impala Platinum Holdings Ltd, Indian Platinum Pvt. Ltd, Johnson Matthey Plc, Nihon Material Co.Ltd., Northam Platinum Ltd, PJSC MMC Norilsk Nickel, Platinum Industries Pvt. Ltd, Sibanye Stillwater Ltd, Vale SA
A significant trend in the Platinum market is the increasing demand for platinum as a catalyst in green hydrogen production. With the global push towards decarbonization and renewable energy, there's a growing focus on green hydrogen as a clean and sustainable alternative to fossil fuels. Platinum plays a crucial role as a catalyst in electrolyzers used for producing green hydrogen through water electrolysis. As governments and industries invest in hydrogen infrastructure and renewable energy projects, the demand for platinum in hydrogen production is expected to rise significantly, driving market growth in the platinum sector.
A significant driver propelling the Platinum market is the growth in automotive catalyst applications, particularly in the automotive industry's transition towards stricter emission standards and cleaner vehicles. Platinum is a key component in catalytic converters used in gasoline and diesel-powered vehicles to reduce harmful emissions such as carbon monoxide, nitrogen oxides, and hydrocarbons. With increasing environmental regulations and consumer demand for cleaner air, automakers are adopting advanced emission control technologies that require higher loadings of platinum in catalytic converters. This underscores the importance of platinum in enabling cleaner and more fuel-efficient vehicles, driving demand for platinum in the automotive sector.
An untapped opportunity in the Platinum market lies in the expansion into Fuel Cell Electric Vehicles (FCEVs), which utilize platinum as a catalyst in fuel cell stacks to generate electricity through the electrochemical reaction of hydrogen and oxygen. FCEVs offer several advantages over traditional internal combustion engine vehicles, including zero-emission operation, longer driving ranges, and shorter refueling times. As automakers continue to invest in hydrogen fuel cell technology and infrastructure, there's a growing potential for platinum demand in FCEVs. By capitalizing on this opportunity and collaborating with automakers and fuel cell manufacturers, platinum producers can diversify their market reach and tap into the rapidly evolving market for hydrogen-powered vehicles.
By Source
By Application
Geographical Analysis
*- List not Exhaustive
TABLE OF CONTENTS
1 Introduction to 2024 Platinum Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Analyzed
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 Executive Summary
3.1 Global Platinum Market Size Outlook, $ Million, 2021 to 2030
3.2 Platinum Market Outlook by Type, $ Million, 2021 to 2030
3.3 Platinum Market Outlook by Product, $ Million, 2021 to 2030
3.4 Platinum Market Outlook by Application, $ Million, 2021 to 2030
3.5 Platinum Market Outlook by Key Countries, $ Million, 2021 to 2030
4 Market Dynamics
4.1 Key Driving Forces of Platinum Industry
4.2 Key Market Trends in Platinum Industry
4.3 Potential Opportunities in Platinum Industry
4.4 Key Challenges in Platinum Industry
5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Platinum Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook
6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 Global Platinum Market Outlook by Segments
7.1 Platinum Market Outlook by Segments, $ Million, 2021- 2030
By Source
Primary
Secondary
By Application
Automotive
Jewelry
Industrial
Investment
8 North America Platinum Market Analysis and Outlook To 2030
8.1 Introduction to North America Platinum Markets in 2024
8.2 North America Platinum Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Platinum Market size Outlook by Segments, 2021-2030
By Source
Primary
Secondary
By Application
Automotive
Jewelry
Industrial
Investment
9 Europe Platinum Market Analysis and Outlook To 2030
9.1 Introduction to Europe Platinum Markets in 2024
9.2 Europe Platinum Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Platinum Market Size Outlook by Segments, 2021-2030
By Source
Primary
Secondary
By Application
Automotive
Jewelry
Industrial
Investment
10 Asia Pacific Platinum Market Analysis and Outlook To 2030
10.1 Introduction to Asia Pacific Platinum Markets in 2024
10.2 Asia Pacific Platinum Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Platinum Market size Outlook by Segments, 2021-2030
By Source
Primary
Secondary
By Application
Automotive
Jewelry
Industrial
Investment
11 South America Platinum Market Analysis and Outlook To 2030
11.1 Introduction to South America Platinum Markets in 2024
11.2 South America Platinum Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Platinum Market size Outlook by Segments, 2021-2030
By Source
Primary
Secondary
By Application
Automotive
Jewelry
Industrial
Investment
12 Middle East and Africa Platinum Market Analysis and Outlook To 2030
12.1 Introduction to Middle East and Africa Platinum Markets in 2024
12.2 Middle East and Africa Platinum Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Platinum Market size Outlook by Segments, 2021-2030
By Source
Primary
Secondary
By Application
Automotive
Jewelry
Industrial
Investment
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
African Rainbow Minerals Ltd
Anglo American South Africa Investments Proprietary Ltd
Asahi Group Holdings Ltd
Chimet Spa
Eastern Platinum Ltd
Emerald Jewel Industry India Ltd
Eurasia Mining PLC
Glencore Plc
Heesung PMTech Corp
Heraeus Holding GmbH
Hindustan Platinum Pvt. Ltd
Impala Platinum Holdings Ltd
Indian Platinum Pvt. Ltd
Johnson Matthey Plc
Nihon Material Co.Ltd.
Northam Platinum Ltd
PJSC MMC Norilsk Nickel
Platinum Industries Pvt. Ltd
Sibanye Stillwater Ltd
Vale SA
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Source
By Application
Geographical Analysis
The global Platinum Market is one of the lucrative growth markets, poised to register a 4.8% growth (CAGR) between 2024 and 2030.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
African Rainbow Minerals Ltd, Anglo American South Africa Investments Proprietary Ltd, Asahi Group Holdings Ltd, Chimet Spa, Eastern Platinum Ltd, Emerald Jewel Industry India Ltd, Eurasia Mining PLC, Glencore Plc, Heesung PMTech Corp, Heraeus Holding GmbH, Hindustan Platinum Pvt. Ltd, Impala Platinum Holdings Ltd, Indian Platinum Pvt. Ltd, Johnson Matthey Plc, Nihon Material Co.Ltd., Northam Platinum Ltd, PJSC MMC Norilsk Nickel, Platinum Industries Pvt. Ltd, Sibanye Stillwater Ltd, Vale SA
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2030; Currency: USD; Volume