Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Platinum Market size was over USD 8.5 billion in 2024 and is projected to reach USD 16.43 billion by 2037, growing at around 5.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of platinum is assessed at USD 8.88 billion.
owing to its increasing use in the automotive industry. Platinum is used in spark plugs and oxygen sensors to build more efficient engines, which is estimated to boost its demand among automobile engine manufacturers. Properties of platinum, such as, highly malleable, ductile, dense, and unreactive nature is estimated to boost the market growth. Moreover, platinum is a precious metal, which is 30 times denser than gold, and is being increasingly used in making jewellery, which is further estimated to boost the market growth.
Platinum Sector: Growth Drivers and Challenges
Growth Drivers
- Demand for Platinum to Manufacture More Efficient Engines in Automotive Industry
- Increasing Trend of Platinum Jewellery
Growth Restraints
- Fluctuating Prices of Platinum
- Environmental Impact During Mining
Platinum Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
5.2% |
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Base Year Market Size (2024) |
USD 8.5 billion |
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Forecast Year Market Size (2037) |
USD 16.43 billion |
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Regional Scope |
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Platinum Segmentation
The platinum market is segmented on the basis of application into automotive, jewellery, industrial, and others, out of which, the automotive segment is estimated to witness largest share during the forecast period owing to application of platinum to manufacture catalytic converters for vehicles.
Our in-depth analysis of the global market includes the following segments:
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By Source |
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By Application |
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Customize this ReportPlatinum Industry - Regional Synopsis
Regionally, the global platinum market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Asia Pacific industry is expected to account for largest revenue share by 2037, owing to presence of automotive manufacturing powerhouses in the countries, including, India, China, and Japan. In addition to this, there is a growing need amongst the manufacturers to reduce pollutant emissions and enhance fuel efficiency which is estimated to directly promote the growth of the market in the region.
The market in the North America is projected to observe the highest growth rate over the forecast period on the back of the rising demand for hybrid-electric vehicles, and platinum is required in manufacturing such engines. Moreover, high disposable income is estimated to boost the demand for expensive platinum jewellery among the high class and upper-middle class in the region, which is estimated to drive the platinum market growth.
Companies Dominating the Platinum Landscape
- Anglo American plc
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Asahi Holdings, Inc.
- African Rainbow Minerals Ltd
- Eastern Platinum Ltd.
- Vale SA
- Eurasia Mining PLC
- Implats Platinum Ltd.
- Sibanye Gold Limited
- PJSC MMC Norilsk Nickel
- Northam Platinum Ltd.
In the News
Author Credits: Rajrani Baghel
- Report ID: 2999
- Published Date: Dec 23, 2024
- Report Format: PDF, PPT
