Turkey: Platinum Market 2024

Platinum Market Size in Turkey

The Turkish platinum market expanded modestly to $X in 2022, growing by X% against the previous year. Overall, the total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Platinum consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Platinum Production in Turkey

In value terms, platinum production expanded significantly to $X in 2022 estimated in export price. In general, production, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. Platinum production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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Platinum Exports

Exports from Turkey

For the fifth consecutive year, Turkey recorded growth in shipments abroad of platinum, which increased by X% to X tons in 2022. In general, exports posted a significant increase. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, platinum exports dropped modestly to $X in 2022. Over the period under review, exports recorded a prominent increase. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Iran (X tons), Italy (X kg) and Switzerland (X kg) were the main destinations of platinum exports from Turkey, with a combined X% share of total exports. Japan, Australia, Germany and the UK lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for platinum exported from Turkey were Switzerland ($X), Italy ($X) and Japan ($X), with a combined X% share of total exports. Iran, Australia, the UK and Germany lagged somewhat behind, together comprising a further X%.

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

Export Prices by Country

The average platinum export price stood at $X per kg in 2022, which is down by X% against the previous year. Over the period under review, the export price continues to indicate a abrupt setback. The growth pace was the most rapid in 2017 an increase of X%. The export price peaked at $X per kg in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per kg), while the average price for exports to Germany ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Platinum Imports

Imports into Turkey

In 2022, after two years of growth, there was significant decline in purchases abroad of platinum, when their volume decreased by X% to X kg. Over the period under review, imports recorded a abrupt shrinkage. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Imports peaked at X kg in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, platinum imports dropped significantly to $X in 2022. Overall, imports recorded a deep reduction. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Switzerland (X kg), the UK (X kg) and Italy (X kg) were the main suppliers of platinum imports to Turkey, with a combined X% share of total imports. Germany, Japan, Austria, the Czech Republic and the United States lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest platinum suppliers to Turkey were Switzerland ($X), the UK ($X) and Japan ($X), with a combined X% share of total imports. Germany, Italy, Austria, the Czech Republic and the United States lagged somewhat behind, together accounting for a further X%.

The Czech Republic, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average platinum import price stood at $X per kg in 2022, surging by X% against the previous year. In general, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, platinum import price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per kg in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($X per kg), while the price for Italy ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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