Platinum Group Metals Market Growth, Trends, and Forecast Report 2019-2024 Featuring Major Companies - Anglo American Platinum, Norilsk Nickel, Impala Platinum, Lonmin, and Northam Platinum Limited - ResearchAndMarkets.com

DUBLIN--()--The "Platinum Group Metals Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

The platinum group metals market is expected to register a CAGR of 4.38% during the forecast period of 2019-2024

Major factors driving the market studied are the growing demand for catalytic converters from the automotive industry and the increasing demand for platinum, palladium, and ruthenium from the electronics industry. However, the high costs involved in the production are expected to hinder the growth of the market.

  • By metal type, palladium accounted for the largest market share (51.06%) in 2018 and is expected to grow during the forecast period, owing to the growing automotive and electrical and electronics industries all over the world.
  • Growth in R&D activities in the electronics sector is likely to act as an opportunity in the future.
  • Asia-Pacific dominated the market across the world, with the largest consumption from countries, such as China, Japan, and South Korea.

Key Market Trends

Growing Demand for Catalytic Converters from the Automotive Industry

  • The largest consumption of platinum group metals (PGM) is found in the application of automobile catalytic converters (auto catalysts), a pollution control device fitted to vehicles. In catalytic converters (CATCONs), PGMs are coated onto a substrate present in the exhaust system, where they act as catalysts to reduce harmful emissions to legislated levels.
  • Nearly 85 % of the light-duty vehicles and trucks manufactured worldwide are equipped with CATCONs. These vehicles include buses, cars, light- and heavy-duty trucks, and motorcycles. In addition, many off-road vehicles, like trail bikes and all-terrain recreational vehicles, are also equipped with CATCONs.
  • Since Europe has special attention for diesel-engine cars that use platinum-based autocatalysts, the European market remains the main area of interest for platinum. On the contrary, the United States and Asia have a preference for petrol-engine cars that tend to use Palladium-based catalysts.
  • Globally, Europe consumes 50% of the world's platinum-based autocatalysts, while the other half is consumed across the rest of the world. Despite the fall of platinum's use in autocatalysts, due to the drop in diesel car sales, it is expected that more platinum may be used in autocatalysts for petrol vehicles, which have mainly used palladium in recent years.

The Asia-Pacific Region is Expected to Dominate the Market

  • In 2018, Asia Pacific has accounted for the largest share in the market for platinum group metals with almost half of the global share, and is expected to be the fastest growing market.
  • China is the major holder and accounted for nearly 50% share of this regional market. The demand for platinum in chemical and petroleum refining applications may continue to benefit from investment in large integrated petrochemical complexes in China. China is the largest hard disk drive (HDD) producer in the world, which is successful in creating the stupendous demand for the platinum group metals.
  • Japan is Asia's oldest market for platinum group metals and is now the world's highest per capita consuming market of platinum jewelry. Platinum jewelry has a share of almost 55% of all jewelry that is purchased in Japan.
  • South Korea is presenting new growth markets in Asia for fuel cell technology. Due to this, the country is also one of the key markets to create demand for platinum group metals in fuel cell applications.
  • Furthermore, India and ASEAN countries are also becoming the major factors for the market growth in the Asia-Pacific platinum group metals market. The huge growth of Asia-Pacific is quite instrumental in the expansion of the global platinum group metals market.

Competitive Landscape

The global market for platinum group metals market is highly consolidated, as there are only a few players in the market and top five players in the market control nearly 88% share of the market. The major companies include Anglo American Platinum, Norilsk Nickel, Impala Platinum, Lonmin, and Northam Platinum Limited.

Key Topics Covered:

1 INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Drivers

4.1.1 Growing Demand for Catalytic Converters from the Automotive Industry

4.1.2 Increasing Demand for Platinum, Palladium, and Ruthenium from the Electronics Industry

4.1.3 Growing Jewelry Consumption in Asia-Pacific Countries

4.2 Restraints

4.2.1 High Costs Involved in Maintenance

4.2.2 Other Restraints

4.3 Industry Value-Chain Analysis

4.4 Porter's Five Forces Analysis

4.5 Price Analysis

4.6 Production Scenario

4.6.1 Platinum

4.6.1.1 Production by Mining Countries

4.6.1.2 Production by Recycling

4.6.2 Palladium

4.6.3 Rhodium

5 MARKET SEGMENTATION

5.1 By Metal Type

5.1.1 Platinum

5.1.2 Palladium

5.1.3 Rhodium

5.1.4 Iridium

5.1.5 Ruthenium

5.1.6 Osmium

5.2 By Application

5.2.1 Auto Catalysts

5.2.2 Electrical and Electronics

5.2.3 Fuel Cells

5.2.4 Glass, Ceramics, and Pigments

5.2.5 Jewellery

5.2.6 Medical (Dental and Pharmaceuticals)

5.2.7 Chemicals

5.2.8 Other Applications

5.3 Geography

6 COMPETITIVE LANDSCAPE

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

6.2 Market Share Analysis

6.3 Strategies Adopted by Leading Players

6.4 Company Profiles

6.4.1 African Rainbow Minerals

6.4.2 Anglo American Platinum

6.4.3 Glencore

6.4.4 Impala Platinum

6.4.5 Johnson Matthey

6.4.6 Lonmin

6.4.7 Norilsk Nickel

6.4.8 North American Palladium

6.4.9 Northam Platinum Limited

6.4.10 Royal Bafokeng Platinum

6.4.11 Sibanye-Stillwater

6.4.12 Vale

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

7.1 Growing R&D Activities in the Electronics Sector

7.2 Increasing Investments by Companies in African Countries

7.3 Other Opportunities

For more information about this report visit https://www.researchandmarkets.com/r/1e3sjf

Contacts

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Related Topics: Precious Metals

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Precious Metals