United Kingdom: Platinum Market 2024

Platinum Market Size in the UK

The UK platinum market expanded to $X in 2022, growing by X% against the previous year. Overall, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Platinum Production in the UK

In value terms, platinum production reached $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a buoyant expansion. The growth pace was the most rapid in 2013 when the production volume increased by X%. Platinum production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Platinum Exports

Exports from the UK

In 2022, the amount of platinum exported from the UK declined to X tons, dropping by X% against 2021. Over the period under review, exports saw a deep contraction. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, platinum exports declined notably to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then declined markedly in the following year.

Exports by Country

Hong Kong SAR (X tons), China (X tons) and North Macedonia (X tons) were the main destinations of platinum exports from the UK, with a combined X% share of total exports. The United States, Switzerland, Germany, Japan, Belgium, South Korea, Australia, Poland, India and Ireland lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), China ($X) and North Macedonia ($X) were the largest markets for platinum exported from the UK worldwide, with a combined X% share of total exports. The United States, Germany, Switzerland, Belgium, Japan, South Korea, Australia, Poland, India and Ireland lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Ireland, with a CAGR of X%, recorded the highest growth rate of 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, shrinking by X% against the previous year. In general, export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, platinum export price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per kg in 2021, and then contracted sharply in the following year.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Poland ($X per kg) and South Korea ($X per kg), while the average price for exports to Switzerland ($X per kg) and China ($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 Poland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Platinum Imports

Imports into the UK

In 2022, the amount of platinum imported into the UK shrank to X tons, reducing by X% against the year before. Overall, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2014 when imports increased by X%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, platinum imports fell significantly to $X in 2022. Over the period under review, imports continue to indicate a slight reduction. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then fell significantly in the following year.

Imports by Country

In 2022, South Africa (X tons) constituted the largest platinum supplier to the UK, with a X% share of total imports. Moreover, platinum imports from South Africa exceeded the figures recorded by the second-largest supplier, Belgium (X tons), fivefold. The third position in this ranking was held by Switzerland (X tons), with an X% share.

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

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

From 2012 to 2022, the average annual growth rate of value from South Africa stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Switzerland (X% per year).

Import Prices by Country

The average platinum import price stood at $X per kg in 2022, declining by X% against the previous year. In general, the import price, however, posted a temperate expansion. The pace of growth appeared the most rapid in 2018 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per kg in 2021, and then declined in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Switzerland ($X per kg) and Belgium ($X per kg), while the price for the United States ($X per kg) and Germany ($X per kg) were amongst the lowest.

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

Source: IndexBox Platform

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