Research and Markets: Global Platinum Group Metals Market 2014-2018: One of the Major Drivers is the Increasing Usage of PGM in the Automobile Sector
DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/fsbvsq/global_platinum) has announced the addition of the "Global Platinum Group Metals Market 2014-2018" report to their offering.
The analysts forecast the Global Platinum Group Metals market to grow at a CAGR of 4.29 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increased use of PGMs in Automotive sector. The Global PGM market has also been witnessing the increasing vehicle production worldwide. However, the supply constraints could pose a challenge to the growth of this market.
Key vendors dominating this space are Anglo American Platinum Ltd., JSC MMC Norilsk Nickel, Lonmin plc, Stillwater Mining Co., and Impala Platinum Holdings Ltd.
Other vendors mentioned in the report are African Rainbow Minerals Ltd. (ARM), Glencore Xstrata plc, Eastern Platinum Ltd., and North American Palladium Ltd.
Commenting on the report, an analyst from the team said: The increasing vehicle production worldwide, especially that expected to take place in Asia in the coming years, presents a huge opportunity for the usage of PGM in the Automobile sector. The sharp rise in the number of vehicles will lead to the implementation of stringent emission standards for diesel vehicles, particularly in the Commercial Vehicle segment, thereby resulting in the rising consumption of autocatalysts to control vehicular emissions. Also, the electronic and safety systems that improve automobile reliability make use of the physical properties of PGM such as conductivity, stability, and durability. PGM are also used in the Automobile sector in fuel cells, antilock breaking systems, air bag initiators, and spark plugs. Hence, the booming Automobile sector and the increased usage of PGM in automobiles are expected to propel the growth of the market during the forecast period.
According to the report, one of the major drivers in this market is the increasing usage of PGM in the Automobile sector. PGM play a significant role in making modern cars efficient and safe. Eco-friendly innovations such as fuel cells and catalytic converters would not be possible without PGM.
For more information visit http://www.researchandmarkets.com/research/fsbvsq/global_platinum
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