Platinum Group Metals Market

Platinum Group Metals Market: Overview

Six metals platinum group metals comprise platinum, rhodium, palladium, iridium, ruthenium, and osmium. The platinum group metals market has been witnessing substantial prospects most notably from the numerous uses of platinum. It is used extensively in jewelry making and in making medical and electronics materials. Another key metal palladium is utilized for its attractive catalytic properties. Key applications are chemical, auto catalysts, fuel cells, glass, electrical and electronics, ceramics, paints and pigments.

The study offers detailed insights into the shares and size of key segments, and current and emerging opportunities in various key regions. The research also offers research and development trends and factors that are shaping the evolution of new avenues for market players during the forecast period of 2020 – 2030.

Platinum Group Metals Market: Key Trends

Rising demand for platinum, palladium, and ruthenium in the electronics industry is a key driver for growth in the platinum group metals market. Rising demand for catalytic converters in the automotive industries has spurred on steady revenue generation in key regional markets. The electrical and electronics industry has also been witnessed substantial demand for platinum group metals, especially platinum. The metal is being increasingly utilized in autocatalysts, jewelry, and chemicals. A slew of properties such as high temperature stability, remarkable corrosion resistance, and conductivity is stoking the popularity of platinum group metals. 

Platinum Group Metals Market: Regional Assessment

Of all regions, Asia Pacific has witnessed substantial consumption of platinum group metals. A large share of opportunities has come from China. Rising use of these metals in chemical and petroleum refining applications is boosting revenue generation. Rise in demand for platinum-based jewelry has spurred on substantial opportunities for manufacturers in the market.