Global Platinum Market 2022

Platinum Market Size

In 2021, the global platinum market was finally on the rise to reach $X after eight years of decline. Overall, consumption, however, continues to indicate a noticeable descent. Global consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Platinum Production

In value terms, platinum production reduced slightly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a drastic downturn. The pace of growth was the most pronounced in 2020 when the production volume increased by 7%. Over the period under review, global production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Platinum Exports

Exports

For the fourth consecutive year, the global market recorded growth in shipments abroad of platinum, which increased by 17% to X tons in 2021. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when exports increased by 17%. Over the period under review, the global exports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

In value terms, platinum exports surged to $X in 2021. Overall, exports, however, recorded a mild curtailment. Over the period under review, the global exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Norway (X tons), South Africa (X tons), Denmark (X tons), the Czech Republic (X tons), the UK (X tons), Belgium (X tons), Singapore (X tons), Spain (X tons), Turkey (X tons), Hong Kong SAR (X tons), the United States (X tons) and Bulgaria (X tons) represented the main exporter of platinum in the world, committing 81% of total export.

From 2012 to 2021, the biggest increases were in Turkey (with a CAGR of +71.5%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, South Africa ($X), the UK ($X) and Hong Kong SAR ($X) were the countries with the highest levels of exports in 2021, together accounting for 52% of global exports. The United States, Belgium, Singapore, Norway, the Czech Republic, Spain, Turkey, Denmark and Bulgaria lagged somewhat behind, together accounting for a further 15%.

Turkey, with a CAGR of +51.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average platinum export price amounted to $X per kg, increasing by 19% against the previous year. Over the period under review, the export price, however, recorded a mild reduction. The pace of growth was the most pronounced in 2017 when the average export price increased by 20%. The global export price peaked at $X per kg in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was the UK ($X per kg), while Denmark ($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 global leaders experienced more modest paces of growth.

Platinum Imports

Imports

After two years of decline, supplies from abroad of platinum increased by 31% to X tons in 2021. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 37%. As a result, imports attained the peak of X tons; afterwards, it flattened through to 2021.

In value terms, platinum imports surged to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. Global imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Belgium (X tons) and Bulgaria (X tons) represented the main importers of platinumin the world, together generating 36% of total imports. It was distantly followed by Indonesia (X tons), China (X tons), the Netherlands (X tons), the UK (X tons) and Denmark (X tons), together mixing up a 33% share of total imports. The United States (X tons), Hong Kong SAR (X tons), Japan (X tons), Switzerland (X tons), Slovakia (X tons) and Germany (X tons) held a relatively small share of total imports.

From 2012 to 2021, the biggest increases were in Indonesia (with a CAGR of +88.6%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest platinum importing markets worldwide were China ($X), the UK ($X) and the United States ($X), together comprising 48% of global imports. These countries were followed by Hong Kong SAR, Japan, Germany, Switzerland, Belgium, the Netherlands, Bulgaria, Indonesia, Denmark and Slovakia, which together accounted for a further 32%.

Indonesia, with a CAGR of +51.7%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average platinum import price stood at $X per kg in 2021, falling by -3.5% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 40%. As a result, import price reached the peak level of $X per kg. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: 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 (+6.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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