Southern Asia: Platinum Market 2022

Platinum Market Size in Southern Asia

In 2021, after six years of decline, there was growth in the South Asian platinum market, when its value increased by 4.5% to $X. Over the period under review, consumption, however, showed a abrupt shrinkage. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Platinum Production in Southern Asia

In value terms, platinum production expanded modestly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a drastic downturn. The pace of growth appeared the most rapid in 2013 with an increase of 4.8%. 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 Southern Asia

In 2021, the amount of platinum exported in Southern Asia reduced dramatically to X kg, waning by -39.1% on the previous year's figure. Over the period under review, exports saw a noticeable setback. The pace of growth appeared the most rapid in 2015 with an increase of 221%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, platinum exports surged to $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 65% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

India dominates exports structure, resulting at X kg, which was approx. 93% of total exports in 2021. It was distantly followed by Pakistan (X kg), mixing up a 7.2% share of total exports.

India was also the fastest-growing in terms of the platinum exports, with a CAGR of -1.1% from 2012 to 2021. Pakistan (-11.2%) illustrated a downward trend over the same period. India (+11 p.p.) significantly strengthened its position in terms of the total exports, while Pakistan saw its share reduced by -9.4% from 2012 to 2021, respectively.

In value terms, India ($X) remains the largest platinum supplier in Southern Asia, comprising 75% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 25% share of total exports.

In India, platinum exports expanded at an average annual rate of +7.4% over the period from 2012-2021.

Export Prices by Country

The export price in Southern Asia stood at $X per kg in 2021, increasing by 131% against the previous year. Over the period under review, the export price showed a tangible increase. The level of export peaked at $X per kg in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+8.6%).

Platinum Imports

Imports in Southern Asia

Platinum imports reduced rapidly to X tons in 2021, waning by -53% compared with 2020 figures. Overall, imports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 134%. As a result, imports reached the peak of X tons, and then fell significantly in the following year.

In value terms, platinum imports surged to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.7% 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 +46.3% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 71% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

India represented the major importer of platinum in Southern Asia, with the volume of imports accounting for X tons, which was near 84% of total imports in 2021. It was distantly followed by Pakistan (X tons), creating a 16% share of total imports.

Imports into India increased at an average annual rate of +8.7% from 2012 to 2021. At the same time, Pakistan (+14.1%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +14.1% from 2012-2021. India (+7.2 p.p.) and Pakistan (+6.4 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported platinum in Southern Asia, comprising 97% of total imports. The second position in the ranking was held by Pakistan ($X), with a 3% share of total imports.

From 2012 to 2021, the average annual growth rate of value in India totaled +5.6%.

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per kg, surging by 167% against the previous year. Over the period under review, the import price, however, showed a mild slump. The level of import peaked at $X per kg in 2012; however, from 2013 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 India ($X per kg), while Pakistan stood at $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+0.8%).

Source: IndexBox Market Intelligence Platform

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