Platinum Group Metals Market to Witness Massive Growth (2024-2031): Detailed Market Analysis and Key Players - African Rainbow Minerals, Anglo American Platinum, Aquarius Platinum

DataM Intelligence has released a new research report on the Platinum Group Metals market. The report provides a detailed analysis of current and emerging trends, offering insights into the market dynamics. It utilizes Porter's Five Forces model to assess key factors such as supplier and customer relationships, risks from various agents, competitive intensity, and opportunities for new entrants. The study also includes research data from various companies, analyzing factors like benefits, gross margins, and strategic decisions in the global market. The report is enriched with tables, charts, and infographics for a clear presentation of the findings.

The Global Platinum Group Metals Market reached US$ 32.1 billion in 2023 and is expected to reach US$ 41.3 billion by 2031, growing with a CAGR of 3.2% during the forecast period 2024-2031.

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Platinum group metals (PGMs) refer to a group of six precious metals that are highly valued for their unique properties, including resistance to corrosion, high melting points, and excellent catalytic capabilities. The six metals in this group are platinum, palladium, rhodium, ruthenium, iridium, and osmium. PGMs are primarily used in automotive catalytic converters, jewelry, electronics, and various industrial applications due to their ability to facilitate chemical reactions and withstand extreme conditions. Their scarcity and high demand make them crucial for various sectors, including automotive, chemical, and electronics industries, as well as for investment purposes.

List of the Key Players in the Platinum Group Metals Market:

African Rainbow Minerals, Anglo American Platinum, Aquarius Platinum, Eastern Platinum, Glencore, Implats, Johnson Matthey, Norilsk Nickel, Sibanye-Stillwater and Northam Platinum Limited.

Key Developments:

In June 2023, Sibanye-Stillwater, a South African multinational mining company, stated during an earnings call that it anticipates a rebound in South Africa's production of platinum group metals by early 2024.

In November 2023, Anglo American, a leading multinational mining company, announced plans to reduce output at its platinum and iron ore mining operations as part of an effort to lower operating costs.

In February 2024, Sibanye-Stillwater reported a write-down of nearly $2.58 billion in profits due to a decline in global prices for platinum group metals.

Research Process:

Both primary and secondary data sources have been used in the global Platinum Group Metals Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

Segment Covered in the Platinum Group Metals Market:

By Type: Palladium, Platinum, Ruthenium, Others

By Application: Automotive, Jewellery, Carbon Material, Industrial, Chemical, Electrical, Glass, Medical and Biomedical, Petroleum, Others

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Regional Analysis:

➣ North America (US, Canada, Mexico)

➣ Europe (Germany, Russia, UK, France, Italy, Spain, Rest of Europe)

➣ Asia-Pacific (China, India, Japan, Australia, Rest of Asia Pacific)

➣ South America (Brazil, Argentina, Rest of South America)

➣ Middle East and Africa

**The full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted**

Chapter Outline:

⏩ Market Overview: It contains five chapters, as well as information about the research scope, major manufacturers covered, market segments, Platinum Group Metals market segments, study objectives, and years considered.

⏩ Market Landscape: The competition in the Global Platinum Group Metals Market is evaluated here in terms of value, turnover, revenues, and market share by organization, as well as market rate, competitive landscape, and recent developments, transaction, growth, sale, and market shares of top companies.

⏩ Companies Profiles: The global Platinum Group Metals market's leading players are studied based on sales, main products, gross profit margin, revenue, price, and growth production.

⏩ Market Outlook by Region: The report goes through gross margin, sales, income, supply, market share, CAGR, and market size by region in this segment. North America, Europe, Asia Pacific, Middle East & Africa, and South America are among the regions and countries studied in depth in this study.

⏩ Market Segments: It contains the deep research study which interprets how different end-user/application/type segments contribute to the Platinum Group Metals Market.

⏩ Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

⏩ Research Findings: This section of the report showcases the findings and analysis of the report.

⏩ Conclusion: This portion of the report is the last section of the report where the conclusion of the research study is provided.

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The Research Report Offers Answers To The Following Questions:

☛ What is the expected growth rate of the global market for the forecast period?

☛ What are the key driving factors that are responsible to shape the fate of the Platinum Group Metals market during the forecast period?

☛ What will be the overall size of the market during the analysis period?

☛ What are the prominent market trends which influence the development of the Platinum Group Metals market across various regions?

☛ Who are the key market players and the market strategies that have helped them to secure the leading position in the global market?

☛ What are the challenges and threats that are likely to act as a barrier to the growth of the Platinum Group Metals market?

☛ What are the major opportunities that the companies can get to attain success in the world?

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