South-Eastern Asia: Platinum Market 2022

Platinum Market Size in South-Eastern Asia

In 2021, the Southeast Asian platinum market was finally on the rise to reach $X after six years of decline. Over the period under review, consumption, however, showed a drastic downturn. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Platinum Production in South-Eastern Asia

In value terms, platinum production amounted to $X in 2021 estimated in export price. In general, production, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 18%. The level of production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Platinum Exports

Exports in South-Eastern Asia

For the third consecutive year, South-Eastern Asia recorded growth in shipments abroad of platinum, which increased by 130% to X tons in 2021. Overall, exports enjoyed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, platinum exports skyrocketed to $X in 2021. In general, exports showed significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 117%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Singapore (X tons) represented roughly 99% of total exports in 2021.

Singapore was also the fastest-growing in terms of the platinum exports, with a CAGR of +28.5% from 2012 to 2021. From 2012 to 2021, the share of Singapore increased by +5.4 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) also remains the largest platinum supplier in South-Eastern Asia.

From 2012 to 2021, the average annual rate of growth in terms of value in Singapore amounted to +22.8%.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per kg in 2021, declining by -48.3% against the previous year. Over the period under review, the export price recorded a noticeable descent. The pace of growth was the most pronounced in 2018 when the export price increased by 46% against the previous year. The level of export peaked at $X per kg in 2020, and then shrank markedly in the following year.

As there is only one major export destination, the average price level is determined by prices for Singapore.

From 2012 to 2021, the rate of growth in terms of prices for Singapore amounted to -4.5% per year.

Platinum Imports

Imports in South-Eastern Asia

In 2021, approx. X tons of platinum were imported in South-Eastern Asia; jumping by 273% on 2020. Over the period under review, imports posted a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, platinum imports skyrocketed to $X in 2021. Total imports indicated temperate growth from 2012 to 2021: its value 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, imports increased by +76.1% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Indonesia dominates imports structure, resulting at X tons, which was near 88% of total imports in 2021. It was distantly followed by Singapore (X tons), achieving a 9.9% share of total imports.

Indonesia was also the fastest-growing in terms of the platinum imports, with a CAGR of +88.6% from 2012 to 2021. Singapore experienced a relatively flat trend pattern. From 2012 to 2021, the share of Indonesia increased by +87 percentage points.

In value terms, Singapore ($X) constitutes the largest market for imported platinum in South-Eastern Asia, comprising 78% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 3.9% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Singapore stood at +3.8%.

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per kg, falling by -55.5% against the previous year. In general, the import price showed a abrupt decrease. The pace of growth was the most pronounced in 2020 when the import price increased by 95%. The level of import peaked at $X per kg in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+4.3%).

Source: IndexBox Market Intelligence Platform

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