Malaysia: Platinum Market 2022

Platinum Market Size in Malaysia

In 2021, the Malaysian platinum market decreased by -70.2% to $X, falling for the second year in a row after two years of growth. In general, consumption faced a precipitous decrease. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Platinum Exports

Exports from Malaysia

Platinum exports from Malaysia surged to X kg in 2021, jumping by 388% on the previous year's figure. In general, exports showed a buoyant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 492% against the previous year. The exports peaked at X kg in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, platinum exports soared to $X in 2021. Overall, exports saw significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Japan (X kg) was the main destination for platinum exports from Malaysia, accounting for a 80% share of total exports. Moreover, platinum exports to Japan exceeded the volume sent to the second major destination, Hong Kong SAR (X kg), fivefold.

From 2012 to 2021, the average annual growth rate of volume to Japan totaled +30.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (0.0% per year) and Switzerland (+1.7% per year).

In value terms, Japan ($X) emerged as the key foreign market for platinum exports from Malaysia, comprising 80% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Japan totaled +43.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+138.8% per year) and Switzerland (+6.0% per year).

Export Prices by Country

In 2021, the average platinum export price amounted to $X per kg, with an increase of 135% against the previous year. Overall, the export price showed a buoyant expansion. The growth pace was the most rapid in 2016 when the average export price increased by 699% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Hong Kong SAR ($X per kg), while the average price for exports to Switzerland ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Platinum Imports

Imports into Malaysia

In 2021, overseas purchases of platinum decreased by -77.7% to X kg, falling for the second year in a row after two years of growth. In general, imports showed a significant decrease. The growth pace was the most rapid in 2019 when imports increased by 50% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, platinum imports reduced notably to $X in 2021. Over the period under review, imports recorded a deep slump. The most prominent rate of growth was recorded in 2019 with an increase of 6.3% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The UK (X kg), Germany (X kg) and Singapore (X kg) were the main suppliers of platinum imports to Malaysia, with a combined 76% share of total imports. Taiwan (Chinese), Switzerland, Japan, Mexico, China and the United States lagged somewhat behind, together comprising a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +1,000.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of platinum to Malaysia, comprising 53% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 9.8% share of total imports. It was followed by Switzerland, with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +53.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+91.5% per year) and Switzerland (+16.3% per year).

Import Prices by Country

The average platinum import price stood at $X per kg in 2021, growing by 237% against the previous year. Over the period under review, the import price enjoyed a significant expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+38.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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