What is the global market size of the Platinum Mining Market?

Global Platinum Mining Market size was valued at USD 5.2 billion in 2021 and is poised to grow from USD 5.8 billion in 2022 to USD 11.1 billion by 2030, growing at a CAGR of 5% in the forecast period (2023-2030).

What is the key market trend for the Global Platinum Mining Market?

Platinum has unique catalytic qualities making it a popular metal for industrial uses, with the automotive industry alone contributing to one-third of global demand. Mining Technology tracks global platinum prices as well as country-specific platinum production and consumption trends.

Platinum Mining Market Size, Share, Growth Analysis, By Sources(Primary and Secondary), By Application(Automotive, Jewellery, Industrial, Investment), By Region - Industry Forecast 2024-2031

Q: Who are the key vendors in the Global Platinum Mining Market?

Global platinum mining market is highly competitive with the presence of local as well as global companies. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of global market. 'Anglo American Platinum Limited', 'Impala Platinum Holdings Limited', 'Lonmin Plc', 'Northam Platinum Limited', 'Sibanye-Stillwater Limited', 'Royal Bafokeng Platinum Limited', 'Glencore Xstrata Plc', 'Norilsk Nickel Mining and Metallurgical Co.', 'Jubilee Metals Group plc', 'Zimplats Holdings Limited', 'Aquarius Platinum Limited', 'Eastern Platinum Limited', 'Ivanhoe Mines Ltd.', 'Royal Nickel Corporation', 'Platinum Group Metals Ltd.', 'African Rainbow Minerals Limited', 'Tharisa plc', 'Wesizwe Platinum Limited', 'Impala Canada Ltd.', 'Impala Refining Services Limited'

Report ID: SQMIG15M2005 | Region: Global | Published Date: April, 2024
Pages: 184 | Tables: 62 | Figures: 75

Platinum Mining Market Regional Insights

On the basis of region, global platinum mining market is divided into North America, Europe, Asia Pacific and MEA. Asia Pacific dominated the global market, due to the presence of vehicle manufacturing countries such as India, China, and Japan. Also, the implementation of new regulatory standards like BS-VI in the Indian automotive sector is may put pressure on manufacturers to reduce pollutant emissions and improve fuel efficiency. A significant investment commodity demand for the product is another important factor driving the growth of the platinum mining market in this region.

Europe is projected to grow at a significant CAGR during the forecast period. Platinum mining demand is increasing due to the rising demand for diesel hybrid vehicles. According to data given by the European Automobile Manufacturers Association (ACEA) in 2019, the hybrid car segment increased production by about 47 % from 2018 to 2019.

Platinum Mining Market Report Snapshots

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Platinum Mining Market size was valued at USD 5.8 billion in 2022 and is poised to grow from USD 6.09 billion in 2023 to USD 9.00 billion by 2031, growing at a CAGR of 5% during the forecast period (2024-2031).

platinum mining market is highly competitive with the presence of local as well as companies. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of market. 'Anglo American Platinum Limited', 'Impala Platinum Holdings Limited', 'Lonmin Plc', 'Northam Platinum Limited', 'Sibanye-Stillwater Limited', 'Royal Bafokeng Platinum Limited', 'Glencore Xstrata Plc', 'Norilsk Nickel Mining and Metallurgical Co.', 'Jubilee Metals Group plc', 'Zimplats Holdings Limited', 'Aquarius Platinum Limited', 'Eastern Platinum Limited', 'Ivanhoe Mines Ltd.', 'Royal Nickel Corporation', 'Platinum Group Metals Ltd.', 'African Rainbow Minerals Limited', 'Tharisa plc', 'Wesizwe Platinum Limited', 'Impala Canada Ltd.', 'Impala Refining Services Limited'

Platinum is used as a catalyst in automobile exhaust systems. These operations help remove or neutralize hazardous chemicals from automotive exhaust. About 40% of the world's total platinum consumption is used in these processes. The automotive industry is the world's largest consumer of platinum metals, which are used in catalytic converters for vehicle exhaust systems. This is a major factor driving platinum mining market worldwide.

Platinum has unique catalytic qualities making it a popular metal for industrial uses, with the automotive industry alone contributing to one-third of demand. Mining Technology tracks platinum prices as well as country-specific platinum production and consumption trends.

On the basis of region, platinum mining market is divided into North America, Europe, Asia Pacific and MEA. Asia Pacific dominated the market, due to the presence of vehicle manufacturing countries such as India, China, and Japan. Also, the implementation of new regulatory standards like BS-VI in the Indian automotive sector is may put pressure on manufacturers to reduce pollutant emissions and improve fuel efficiency. A significant investment commodity demand for the product is another important factor driving the growth of the platinum mining market in this region.

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Platinum Mining Market Size, Share, Growth Analysis, By Sources(Primary and Secondary), By Application(Automotive, Jewellery, Industrial, Investment), By Region - Industry Forecast 2024-2031

Platinum Mining Market Regional Insights

Platinum Mining Market Report Snapshots

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What is the market size of Platinum Mining Market?

Who are the key vendors in the Platinum Mining Market?

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What is the key market trend for Platinum Mining Market?

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