Platinum Group Metals Market Analysis, Status and Business Outlook 2021 to 2026

The Global Platinum Group Metals Market Research Report 2021-2026 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope, and application of this report.

The platinum group metals market is expected to register a CAGR of over 4% during the forecast period

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Key Market Players:

Anglo American Platinum, Norilsk Nickel, Impala Platinum, Lonmin, and Northam Platinum Limited and Other

Key Market Trends

Platinum to Dominate the Market

- Platinum is a grayish-white-colored precious metal, which is primarily used for manufacturing autocatalysts, jewelry, and chemicals. The most important application of platinum is considered to be in the jewelry category, as it represented about 40% of the overall platinum consumption. The application of catalytic converters contributes to about 37% of the global demand. The rest of the global demand is attributable to various industrial applications.
- Platinum has a high melting point and temperature stability, great corrosion resistance, and is a good oxidation catalyst, and conductive. Furthermore, platinum in certain compounds can inhibit the growth of cancerous cells, and it is an important component in many medical applications, as it is biologically compatible.
- In the medical industry, the demand for platinum-based anti-cancer drugs is increasing significantly, while cardiac problems are treated with the help of medical devices, such as the pacemaker, which contains platinum electrodes.
- Platinum is employed as a catalyst in motor cars, as it regulates the emission of greenhouse gases. Moreover, it contributes to waste reduction, as it is highly durable, strong, and reliable. Furthermore, the high recyclability of PGMs minimizes the load on the environment.

The Asia-Pacific Region is Expected to Dominate the Market

- Asia Pacific has accounted for the largest share in the market for platinum group metals with almost half of the global share and is expected to be the fastest-growing market.
- China is the major holder and accounted for nearly 50% share of this regional market. The demand for platinum in chemical and petroleum refining applications may continue to benefit from investment in large integrated petrochemical complexes in China. China is the largest hard disk drive (HDD) producer in the world, which is successful in creating the stupendous demand for platinum group metals.

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What are the market factors that are explained in the report?

Executive Summary: It includes key trends of the global Platinum Group Metals market related to products, applications, and other crucial factors. It also provides an analysis of the competitive landscape and CAGR and market size of the global Platinum Group Metals market based on production and revenue.

Production and Consumption by Region: It covers all regional markets focusing on the research study. It discusses prices and key players besides production and consumption in each regional market.

Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the global Platinum Group Metals market.

Market Segments: This part of the report discusses product type and application segments of the global Platinum Group Metals market based on market share, CAGR, market size, and various other factors.

Research Methodology: This section discusses the research methodology and approaches Platinum Group Metals used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.

The research includes historic data from 2015 to 2021 and forecasts until 2026 which makes the report an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format

- 3 months of analyst support

How we have factored the effect of Covid-19 in our report:

All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information, and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc.MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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