Palladium Market: Overview

Palladium is a chemical element named after asteroid Pallas. It is denoted with atomic number 46 and symbol ‘Pd.’ Palladium is lustrous silvery white metal and is rarely found. It is assigned with platinum group of metals (PGMs), as they all have uniform chemical properties. The platinum group of metals consists of palladium, ruthenium, rhodium, platinum, osmium, and iridium. However, palladium is the least dense and has the lowest melting point among these. It is extremely ductile and can be easily worked. It does not lose luster when exposed to air or moisture at ordinary temperatures.

Palladium is alloyed with gold in small amounts to produce white gold. Palladium and its alloys serve as a replacement for platinum in jewelry and electrical contacts. Palladium is widely used in automobile catalytic converters. Catalytic converter is a device that converts pollutant and toxic gases from internal combustion engine to less toxic gases.

Palladium is one of the platinum metals which are found in plenty. It is present in the earth’s crust. In mining, palladium can be obtained from deposits alloyed with platinum and gold. Commercially, it is produced as a by-product in refining of nickel and copper ores. It is also found in the residue of nuclear fission or as nuclear waste. Palladium, ruthenium, and rhodium are the three lighter platinum group metals formed as products in nuclear reactors. Recycling is also one of the sources of palladium, largely from scrapped catalytic converters of automobiles.

Palladium Market: Key Segments

The global palladium market can be segmented based on end-use and region. Based on end-use, the palladium market can be divided into chemicals, oil& gas, electronics, automotive, and others. In chemicals, palladium is used as a homogeneous catalyst for highly selective chemical transformations. Large numbers of carbon-carbon bonding reactions are carried out with the help of palladium compound catalyst. Palladium helps accelerate heterogeneous catalytic processes such as dehydrogenation, hydrogenation, and petroleum cracking in the oil & gas industry.

Electronics is anticipated to be a key end-use segment of the palladium market. Palladium is used in multilayer ceramic capacitors, which consist of palladium electrode found in laptops, computers, and mobile phones. Palladium is employed in connector and component plating in consumer electronics. It is extensively used in catalytic converters in automotive. Other end-use applications include jewelry, dentistry, and photography. Palladium is used as valued metal in jewelry as a substitute to platinum. Nowadays, palladium is used as principal metal in jewelry due to the rise in price of platinum and gold. In dentistry, palladium is employed in a few alloys of dental amalgam to increase metallic luster and decrease corrosion.

Palladium Market: Regional Outlook

In terms of region, the global palladium market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to lead the global palladium market during the forecast period. It is anticipated to be followed by Europe. The palladium market in Asia Pacific is estimated to expand at a rapid pace during the forecast period. Latin America and Middle East & Africa are projected to account for moderate share of the market during the forecast period.

Palladium Market: Key Players

Key players operating in the global palladium market are Norilsk Nickel, Anglo American, Implats Platinum Limited, Lonmin Plc, Sibanye-Stillwater, Vale, Aquarius Platinum, North American Palladium Ltd., Northam Platinum Limited, New Gold Inc., and Aberdeen International Inc.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Palladium Market

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