Australia and Oceania: Platinum Market 2022

Platinum Market Size in Australia and Oceania

In 2021, the platinum market in Australia and Oceania increased by 19% to $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption, however, showed a deep downturn. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Platinum Production in Australia and Oceania

In value terms, platinum production soared to $X in 2021 estimated in export price. Overall, production, however, showed a deep reduction. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Platinum Exports

Exports in Australia and Oceania

In 2021, after two years of growth, there was decline in shipments abroad of platinum, when their volume decreased by -2.9% to X tons. In general, exports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 82%. As a result, the exports attained the peak of X tons, and then contracted slightly in the following year.

In value terms, platinum exports surged to $X in 2021. Over the period under review, exports, however, continue to indicate a perceptible expansion. The growth pace was the most rapid in 2018 with an increase of 62%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

The biggest shipments were from Australia (X tons) and New Zealand (X tons), together recording 99.9% of total export.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by New Zealand (with a CAGR of +63.1%).

In value terms, Australia ($X) remains the largest platinum supplier in Australia and Oceania, comprising 96% of total exports. The second position in the ranking was held by New Zealand ($X), with a 4.3% share of total exports.

In Australia, platinum exports expanded at an average annual rate of +4.9% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Australia and Oceania amounted to $X per kg, growing by 63% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The level of export peaked at $X per kg in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Australia ($X per kg), while New Zealand totaled $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+6.4%).

Platinum Imports

Imports in Australia and Oceania

In 2021, overseas purchases of platinum increased by 0.5% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2020 with an increase of 29%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, platinum imports skyrocketed to $X in 2021. In general, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 42%. The level of import peaked in 2021 and is likely to continue growth in the immediate term.

Imports by Country

Australia was the major importing country with an import of around X tons, which resulted at 88% of total imports. It was distantly followed by New Zealand (X kg), constituting a 10% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to platinum imports into Australia stood at -10.1%. At the same time, New Zealand (+11.4%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +11.4% from 2012-2021. New Zealand (+8.5 p.p.) significantly strengthened its position in terms of the total imports, while Australia saw its share reduced by -7.4% from 2012 to 2021, respectively.

In value terms, Australia ($X) constitutes the largest market for imported platinum in Australia and Oceania, comprising 97% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 3.2% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Australia totaled +7.2%.

Import Prices by Country

The import price in Australia and Oceania stood at $X per kg in 2021, jumping by 31% against the previous year. Over the period under review, the import price posted a buoyant expansion. The pace of growth appeared the most rapid in 2018 an increase of 195%. The level of import peaked in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Australia ($X per kg), while New Zealand amounted to $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+19.3%).

Source: IndexBox Market Intelligence Platform

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