EU: Platinum Market 2022

Platinum Market Size in the EU

After eight years of decline, the EU platinum market increased by 3.5% to $X in 2021. Over the period under review, consumption, however, showed a abrupt curtailment. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Platinum Production in the EU

In value terms, platinum production amounted to $X in 2021 estimated in export price. Overall, production, however, recorded a abrupt decrease. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Platinum Exports

Exports in the EU

For the fourth consecutive year, the European Union recorded growth in shipments abroad of platinum, which increased by 8% to X tons in 2021. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by 18% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, platinum exports skyrocketed to $X in 2021. Total exports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +110.9% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Denmark (X tons), the Czech Republic (X tons), Belgium (X tons) and Spain (X tons) represented roughly 71% of total exports in 2021. It was distantly followed by Bulgaria (X tons), Germany (X tons) and Italy (X tons), together committing a 17% share of total exports.

From 2012 to 2021, the biggest increases were in Spain (with a CAGR of +18.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Belgium ($X) and Italy ($X) were the countries with the highest levels of exports in 2021, together accounting for 89% of total exports. The Czech Republic, Spain, Denmark and Bulgaria lagged somewhat behind, together accounting for a further 3.7%.

Denmark, with a CAGR of +11.7%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per kg, surging by 20% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. The pace of growth appeared the most rapid in 2017 when the export price increased by 28% against the previous year. The level of export peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per kg), while Denmark ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+17.5%), while the other leaders experienced more modest paces of growth.

Platinum Imports

Imports in the EU

Platinum imports soared to X tons in 2021, rising by 38% against the previous year. Over the period under review, imports, however, showed a noticeable shrinkage. The growth pace was the most rapid in 2014 when imports increased by 56%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, platinum imports soared to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Belgium (X tons) and Bulgaria (X tons) represented the main importers of platinum in the European Union, together constituting 60% of total imports. The Netherlands (X tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Denmark (8.9%). The following importers - Slovakia (X tons), Germany (X tons), Spain (X tons), Italy (X tons) and France (X tons) - each amounted to a 15% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Bulgaria (with a CAGR of +61.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest platinum importing markets in the European Union were Germany ($X), Italy ($X) and Belgium ($X), with a combined 71% share of total imports. France, the Netherlands, Bulgaria, Spain, Denmark and Slovakia lagged somewhat behind, together comprising a further 6.4%.

Bulgaria, with a CAGR of +39.1%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the European Union stood at $X per kg in 2021, with an increase of 1.6% against the previous year. Import price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, platinum import price increased by +34.2% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the import price increased by 73% against the previous year. The level of import peaked at $X per kg in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Germany ($X per kg), while Denmark ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+12.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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