Platinum - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Platinum Market is accounted for $5.97 billion in 2019 and is expected to reach $10.12 billion by 2027 growing at a CAGR of 6.8% during the forecast period. Rise in the usage of platinum in the petrochemical industry for speeding up processes and growth in the automotive industry utilising platinum catalyst for toxic emission control are the major factor propelling the market growth. However, high cost is hampering the market growth.
Platinum is a gray-white colored precious metal. It has important applications in the global production of autocatalysts, jewelry, chemicals, and many more. It is a biologically compatible metal because of its non-toxic nature. It is highly resistant to corrosion, among other desirable traits, and thus has a value somewhat similar to gold.
Based on the application, the automotive segment is estimated to have lucrative growth due to the greater use of commodity to manufacturer catalytic converters for vehicles. The increasing pressure from regulatory bodies around the globe has pushed the automotive vendors to enhance their fuel efficiency while minimizing the overall pollutant emission. This is anticipated to remain a key driver for the segment growth over the forecast period.
By geography, Asia Pacific is going to have lucrative growth during the forecast period due to the presence of automotive manufacturing powerhouses, such as India, China, and Japan. In addition, the implementation of new regulatory norms, such as BS-VI in Indian automotive sector, is likely to push the manufacturers to reduce pollutant emission and enhance fuel efficiency. Another key aspect of promoting regional growth is a strong demand for the product as an investment commodity.
Some of the key players profiled in the Platinum Market include African Rainbow Minerals, Anglo American Platinum Ltd., Asahi Holdings, Inc., Eastern Platinum, Eurasia Mining PLC, Implats Platinum Ltd., Norilsk Nickel, Northam Platinum Ltd., Sibanye-Stillwater, Vale SA, Chimet SpA, Heesung PMTech, Hindustan Platinum Pvt. Ltd, Heraeus Holding, and Johnson Matthey.
• Purity 99%
• Purity 10%
• Purity 5%
• Exhaust Systems
• Chemical Catalysts
• Glass Production
• Flat Panel Monitors
• Medical Tools
• Alloying Agent
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019 2020, 2024, and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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