The global demand for Platinum Group Metals Market is presumed to reach the valuation of nearly USD XX MN by 2026 from USD XX MN in 2021 with a CAGR of XX% under the study period of 2019- 2026.
Platinum group metals (PGMs) is a family of six metals such as platinum, rhodium, osmium, palladium, iridium, and ruthenium. PGM are precious as well as essential raw metal used as an excellent raw material for autocatalysis and pollution control in the automotive sector. These group metals are mainly used for manufacturing autocatalysts, automobiles, glass fiber, computer hard drives, nylon razors, jewelry, medical tools and chemicals, owing to properties such as purity, high melting points, unique catalytic properties, oxidation, reduction properties, high temperature resistant, extremely corrosion resistant, and many more. The jewelry category is accounted as about 40% of the overall platinum consumption. This is due to high aesthetic features which makes valuable jewelry item.
Market Dynamics
Rising automobile industry, increasing stringent government regulations regarding carbon emissions, technological advances in nuclear reactor based production, and demand for fuel cells are the key factors that drive the market demand. In addition to this, growing disposable income, modernization of healthcare infrastructure, changing lifestyle is expected to propel the market growth during the forecast period. Furthermore, increase in adoption of PGM for applications in newer industry vertical and emerging economies (China, India, and others)is expected to create lucrative opportunities for PMG market in the coming year. However, huge gap between supply and demand of the platinum group metals may hamper the market growth.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each metal type, and applicationsegment in the global market of platinum group metals.
Market Segmentation
The entire platinum group metals market has been sub-categorized into metal type, and application. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Metal Type- Platinum
- Palladium
- Rhodium
- Iridium
- Ruthenium
- Osmium
By Application- Auto Catalysts
- Electrical & Electronics
- Fuel Cells
- Glass
- Ceramics
- Pigments
- Jewellery
- Medical
- Chemicals
- Other
Regional Analysis
This section covers regional segmentation which accentuates on current and future demand for platinum group metalsmarket across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Platinum Group Metals Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the platinum group metalsmarket include African Rainbow Minerals, Anglo American Platinum, Glencore, Impala Platinum, Johnson Matthey, Lonmin, Norilsk Nickel, North American Palladium, Northam Platinum Limited, Royal Bafokeng Platinum, Sibanye-Stillwater, and Vale.This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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