Platinum Market Growth, Opportunity, Business Trend, and Future Outlook 2021-2026| Anglo American Platinum Limited, Chimet SpA

The Platinum Market research report added by MarketInsightsReports is an in-depth analysis of the latest trends, market size, status, upcoming technologies, industry drivers, challenges, regulatory policies, with key company profiles and strategies of players. The research study provides market introduction, Platinum Market definition, regional market scope, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Platinum Market size forecast, 100+ market data, Tables, Pie Chart, Graphs and Figures, and many more for business intelligence. This research report also provides post COVID-19 impact analysis of the Platinum industry.

The Platinum Market is expected to register a CAGR of around 3%, during the forecast period 2021 to 2026.

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Top Companies in the Global Platinum Market: –
Anglo American Platinum Limited, Chimet SpA, Heesung PMTech, Heraeus Holding, Hindustan Platinum Pvt. Ltd, Impala Platinum Holdings Limited, Johnson Matthey, Nihon Material Co. Ltd, Norilsk Nickel, Northam Platinum Limited, Sibanye-Stillwater

Market Scope:

- The platinum market growth is expected to increase, during the forecast period, owing to the increasing demand for exhaust systems in the automobile industry.

- Asia-Pacific represents the largest market and is also expected to be the fastest-growing market over the forecast period, owing to the increasing consumption from countries, such as China, India, and Japan.
Regional Analysis:
Furthermore, to broaden the understanding, researchers have studied the global Platinum market from a geographical point of view, considering the potential regions and countries. The regional analysis will assist the market players in making sound decisions regarding their future investments.

Platinum Market report includes the following geographic areas such as North America, Europe, China, Japan, Southeast Asia, India and ROW.

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Key Market Trends

Growing Demand for Exhaust Systems in Automobile Industry

- Platinum is naturally available metals in the form of ore and is 30 times rarer than gold. Platinum is one of the catalysts present in automobile exhaust systems. They help in eliminating or neutralizing the harmful elements from the car exhausts and accounts for 40% of the world's total platinum consumption. Additionally, the global 2019 production through mining and recycling stood at around 8.1 million ounces.

- Typically, a diesel automobile exhaust contains about 3-7 grams of platinum and it may vary with the brand and type of vehicle. Growing environmental concerns regarding carbon dioxide emission and to obtain net-zero emissions are expected to drive the market.

- Growing investments in hydrogen fuel cell vehicles and their successful trails are estimated to offset and increase the platinum demand for automobiles, which declined due to consumer shift from diesel to petrol and petrol hybrid vehicles.

- Fuel cell electric vehicles use double the amount of platinum compared to internal combustion vehicles. In fuel cell vehicles, hydrogen is used as fuel and platinum (being the most effective and durable catalyst) enables the chemical reaction with oxygen in the air that produces water and electricity. Electricity generated is used by the electric motor and water is emitted through exhaust, thereby, achieving zero emissions.

- The growing need to curb emissions, to reduce greenhouse gas impact on the environment, is expected to drive the market studied during the forecast period.

Asia-Pacific to Dominate the Market

- Asia-Pacific is expected to dominate the market studied during the forecast period, due to an increase in demand from countries, like China and India.

- In countries, like India and China, platinum demand is mainly dominated by the growing demand from the jewelry segment. China accounts for about 50% of the total platinum consumption in the jewelry segment, whereas India’s demand was estimated at 175 kilo ounces, which is around 6% demand in the jewelry segment. The growing aspirations toward jewelry among current millennials are expected to drive the market.

- Platinum is used as a catalyst in various chemical manufacturing processes. India and China are the largest chemical manufacturers in the world, due to their flexible environmental regulations, unlike Europe, and low labor costs.

Following are major Table of Content of Platinum Industry:

Platinum Market Sales Overview.
Platinum Market Sales Competition by Manufacturers.
Platinum Market Sales Analysis by Region.
Platinum Market Sales Analysis by Type.
Platinum Market Analysis by Application.
Platinum Market -Manufacturers Analysis.

Reasons to Invest:

Market Size Forecasts: The authors of the report have provided accurate estimation of the global Platinum market size based on value and volume
Market Trend Analysis: This section of the report throws light on the approaching trends and developments in the global Platinum market
Future Prospects: The report here offers crucial information on the rewarding opportunities in the global Platinum market

Platinum market report allows an understanding of the market and benefits from any lucrative opportunities that are available. Researchers have offered a comprehensive study of the existing market scenario while concentrating on the new business objectives. There is a detailed analysis of the change in customer requirements, customer preferences and the vendor landscape of the overall market.

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