Platinum 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.
