Belgium: Platinum Market 2024

Platinum Market Size in Belgium

The Belgian platinum market dropped to $X in 2022, declining by X% against the previous year. Over the period under review, consumption, however, continues to indicate a buoyant increase. Platinum consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Platinum Production in Belgium

In value terms, platinum production declined to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a strong increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Platinum Exports

Exports from Belgium

After five years of growth, overseas shipments of platinum decreased by X% to X tons in 2022. Overall, exports showed a deep setback. The pace of growth was the most pronounced in 2018 with an increase of X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, platinum exports declined remarkably to $X in 2022. Over the period under review, exports, however, enjoyed measured growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2021, and then contracted markedly in the following year.

Exports by Country

The UK (X tons), the United States (X tons) and Germany (X tons) were the main destinations of platinum exports from Belgium, with a combined X% share of total exports. Japan lagged somewhat behind, comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the UK ($X), Germany ($X) and the United States ($X) were the largest markets for platinum exported from Belgium worldwide, with a combined X% share of total exports. Japan lagged somewhat behind, accounting for a further X%.

In terms of the main countries of destination, Japan, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average platinum export price amounted to $X per kg, which is down by X% against the previous year. Overall, the export price, however, posted buoyant growth. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per kg. From 2019 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Germany ($X per kg) and Japan ($X per kg), while the average price for exports to the United States ($X per kg) and the UK ($X per kg) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (X%), while the prices for the other major destinations experienced mixed trend patterns.

Platinum Imports

Imports into Belgium

In 2022, overseas purchases of platinum increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, imports saw a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, platinum imports soared to $X in 2022. In general, imports saw buoyant growth. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of platinum to Belgium, with a X% share of total imports. Moreover, platinum imports from Germany exceeded the figures recorded by the second-largest supplier, Spain (X tons), sixfold. The third position in this ranking was taken by the UK (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and the UK (X% per year).

In value terms, Germany ($X) constituted the largest supplier of platinum to Belgium, comprising X% of total imports. The second position in the ranking was taken by the UK ($X), with an X% share of total imports. It was followed by Spain, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and Spain (X% per year).

Import Prices by Country

The average platinum import price stood at $X per kg in 2022, with an increase of X% against the previous year. Overall, the import price, however, showed a abrupt setback. The import price peaked at $X per kg in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per kg), while the price for France ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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