Platinum Group Metals (PGM) Market Evolves with Rhodium Rally, Fuel‐Cell Platinum Demand, Recycling Scale‐Up & Electrolyzer Catalysts amid Supply Disruptions and Emissions Tightening

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.

Platinum Group Metals Market is positioned for robust growth, and shifting market dynamics reshaping the competitive landscape. DataM Intelligence's new report provides data-driven insights, SWOT analysis, and marketing-ready intelligence for businesses seeking to improve market penetration and campaign ROI.

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Platinum Group Metals Overview & Landscape:
The PGM market encompasses mining, refining, and supply of six noble metals platinum, palladium, rhodium, ruthenium, iridium, and osmium valued for their catalytic, chemical, and corrosion‐resistant properties. Widely used in automotive three‐way catalysts, hydrogen fuel cells, jewelry, and industrial processes, the landscape is shaped by tight supply chains (primarily South Africa and Russia), recycling dynamics, and emerging clean‐energy applications.

Platinum Group Metals Recent Key Developments :

Rhodium Price Surge: Continued record highs driven by tightening emissions standards and reduced by‐product output from platinum mines.

Fuel Cell Growth: Rising platinum demand for proton‐exchange membrane (PEM) fuel cells in heavy‐duty transport and stationary power trials.

PGM Recycling Scale‐Up: Expansion of catalytic converter recycling plants in Europe and North America to secure secondary supply.

Mine Disruptions: Labor strikes and power constraints in South African platinum complexes intermittently curtail global output.

Electrolyzer Catalysts: Strategic partnerships to develop ruthenium‐ and iridium‐based catalysts for green hydrogen production via water electrolysis.

Strategic Players Driving the Platinum Group Metals Market Forward :

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

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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

Regional Analysis for Platinum Group Metals Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Most Frequently Asked Questions in the Platinum Group Metals Market Research Industry:

✒ What are the primary drivers fueling growth in the Platinum Group Metals Market today?
✒ Which companies are currently leading innovation and market share in the Platinum Group Metals Market?
✒ In what ways is the current regulatory environment influencing the Platinum Group Metals Market's trajectory?
✒ Which geographic regions are forecasted to experience the strongest growth in the Platinum Group Metals Market-and why?
✒ What are the key barriers or challenges that could limit the growth of the Platinum Group Metals Market?

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