U.S. - Platinum - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPlatinum Price in the United States - 2023
Contents:
- Platinum Price in the United States (CIF) - 2023
- Platinum Price in the United States (FOB) - 2023
- Platinum Imports in the United States
- Platinum Exports in the United States
Platinum Price in the United States (CIF) - 2023
In August 2023, the average platinum import price amounted to $30.8M per ton, with a decrease of -2.2% against the previous month. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in November 2022 an increase of 9.4% month-to-month. The import price peaked at $34.9M per ton in January 2023; afterwards, it flattened through to August 2023.
Average prices varied somewhat amongst the major supplying countries. In August 2023, the highest price was recorded for prices from Costa Rica ($41.9M per ton) and Germany ($33.9M per ton), while the price for Switzerland ($28.5M per ton) and South Korea ($29.6M per ton) were amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Belgium (+0.5%), while the prices for the other major suppliers experienced mixed trend patterns.
Platinum Price in the United States (FOB) - 2023
In August 2023, the average platinum export price amounted to $46.7M per ton, growing by 22% against the previous month. Over the period from August 2022 to August 2023, it increased at an average monthly rate of +3.0%. The pace of growth appeared the most rapid in October 2022 when the average export price increased by 48% month-to-month. Over the period under review, the average export prices reached the peak figure at $54.0M per ton in January 2023; however, from February 2023 to August 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Japan ($291M per ton), while the average price for exports to the UK ($32.0M per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+19.1%), while the prices for the other major destinations experienced more modest paces of growth.
Platinum Imports in the United States
After three years of growth, overseas purchases of platinum decreased by -4.4% to 64 tons in 2022. Overall, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +16.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +56.8% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 54% against the previous year.
In value terms, platinum imports reduced to $2.2B in 2022. In general, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +21.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +80.4% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 62% against the previous year.
| Import of Platinum in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Africa | 334 | 433 | 965 | 783 | 32.8% |
| Germany | 325 | 351 | 380 | 305 | -2.1% |
| Belgium | 63.5 | 115 | 231 | 244 | 56.6% |
| Switzerland | 111 | 544 | 277 | 178 | 17.0% |
| Italy | 119 | 94.6 | 200 | 175 | 13.7% |
| Russia | 14.2 | 52.9 | 64.5 | 99.7 | 91.5% |
| United Kingdom | 38.3 | 91.5 | 161 | 94.5 | 35.1% |
| Singapore | 113 | 136 | 58.5 | 45.8 | -26.0% |
| Others | 112 | 168 | 192 | 292 | 37.6% |
| Total | 1,230 | 1,986 | 2,528 | 2,218 | 21.7% |
Top Suppliers of Platinum to the United States in 2022:
- South Africa (24.9 tons)
- Belgium (8.0 tons)
- Germany (6.5 tons)
- Italy (5.5 tons)
- Switzerland (5.5 tons)
- Russia (3.2 tons)
- United Kingdom (2.4 tons)
- Singapore (0.5 tons)
Platinum Exports in the United States
In 2022, after three years of growth, there was significant decline in shipments abroad of platinum, when their volume decreased by -14.5% to 38 tons. Over the period under review, total exports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +19.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 91%.
In value terms, platinum exports fell to $1.4B in 2022. In general, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 90% against the previous year.
| Export of Platinum in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 68.8 | 142 | 233 | 300 | 63.4% |
| Germany | 225 | 165 | 220 | 239 | 2.0% |
| United Kingdom | 93.5 | 129 | 209 | 209 | 30.8% |
| Japan | 51.8 | 87.1 | 109 | 185 | 52.9% |
| Switzerland | 52.8 | 432 | 302 | 148 | 41.0% |
| Hong Kong SAR | 5.5 | 15.8 | 25.1 | 81.1 | 145.2% |
| Canada | 31.3 | 39.4 | 92.5 | 53.9 | 19.9% |
| South Korea | 50.3 | 92.5 | 95.2 | 38.1 | -8.8% |
| India | 14.9 | 33.2 | 23.6 | 22.5 | 14.7% |
| Costa Rica | 8.6 | 16.2 | 14.5 | 17.8 | 27.4% |
| Mexico | 11.9 | 39.0 | 109 | 17.2 | 13.1% |
| Brazil | 24.3 | 26.1 | 22.0 | 5.5 | -39.1% |
| Others | 48.0 | 90.8 | 162 | 102 | 28.6% |
| Total | 687 | 1,308 | 1,617 | 1,419 | 27.4% |
Top Export Markets for Platinum from the United States in 2022:
- Italy (8.6 tons)
- United Kingdom (5.7 tons)
- Germany (5.5 tons)
- Japan (5.0 tons)
- Switzerland (4.2 tons)
- Hong Kong SAR (2.7 tons)
- Canada (1.5 tons)
- India (0.6 tons)
- Mexico (0.5 tons)
- Costa Rica (0.4 tons)
- South Korea (0.4 tons)
- Brazil (0.1 tons)
This report provides an in-depth analysis of the platinum market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 24413010 -
- Prodcom 24413015 -
- Prodcom 24413020 -
- Prodcom 24413025 -
- Prodcom 24413040 -
- Prodcom 24413045 -
- Prodcom 24413055 -
- Prodcom 24413060 -
- Prodcom 24413065 -
- Prodcom 24413070 - Platinum catalysts in the form of wire cloth or grill
- Prodcom 24413030 - Platinum, palladium, rhodium, iridium, osmium and ruthenium, unwrought or in powder form
- Prodcom 24413050 - Platinum, palladium, rhodium, iridium, osmium and ruthenium, in semi-manufactured forms (excluding unwrought or in powder form)
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
-
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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