Global Platinum Powder Market Size, Share, Forecast 2023 - 2033 | Top key players : Anglo American Platinum Limited, American Elements, Umicore, Triveni Interchem Pvt. Ltd., Materion Corporation, BASF SE, Johnson Matthey, Heraeus Holding, Tanaka Holdings

According to a research report published by Spherical Insights & Consulting, The Global Platinum Powder Market is to Grow from USD 55.21 Million in 2023 to USD 99.97 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 6.12% during the projected period.

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High-purity, finely ground platinum metal is used in a variety of industries as platinum powder. It is renowned for its electrical conductivity, catalytic activity, and corrosion resistance. Its main application is in catalytic converters, which help reduce harmful emissions from cars and are crucial to the automotive industry's efforts to meet strict environmental regulations. Because platinum powder is used in the production of fuel cells, electrical connections, and sensors, it is also crucial to the electronics industry. The automotive industry is the primary driver of platinum demand due to its use in catalytic converters. These technologies are essential for reducing harmful pollution from internal combustion engines. However, consumer spending could decrease as a result of economic downturns or concerns.

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The sponge platinum powder category is anticipated to have the greatest market share.

Based on the product type, the global platinum powder market is categorized into sponge platinum powder and chemical precipitation platinum powder. Among these, the sponge platinum powder category is anticipated to have the greatest market share. This dominance can be attributed to the exceptional purity and outstanding catalytic properties of sponge platinum powder, which make it perfect for vital applications including fuel cells and chemical reactions. This supremacy can be ascribed to sponge platinum powder's remarkable catalytic qualities and extraordinary purity, which make it ideal for critical applications including chemical processes and fuel cells.

The high purity segment is anticipated to have the largest market share.

Based on the purity, the global platinum powder market is categorized into high purity and standard purity. Among these, the high purity segment is anticipated to have the largest market share. The market is anticipated to witness significant demand since it is appropriate for critical applications and guarantees consistent performance. As a result, industries such as aerospace, defense, and medicine have selected it. Another reason for the great demand for the purest form of platinum is its ability to withstand harsh environments and high temperatures without losing its effectiveness.

South-Africa is projected to hold the biggest share of the global platinum powder over the forecast period.

South Africa is home to the largest known platinum reserves in the world. One of the numerous platinum group metal (PGM) deposits in the Bushveld Igneous Complex in the country's north is platinum. Due to these reserves, South Africa is emerging as a significant player in the platinum market. The country has a well-established mining infrastructure and a lengthy history of platinum mining. The evolution of mining processes, including exploration, extraction, and processing, over many years has enabled efficient output.

Europe is predicted to grow fastest pace throughout the forecast period. Europe's leadership in environmental sustainability initiatives is driving the need for platinum in catalytic converters, a critical component for reducing vehicle emissions. Furthermore, European investments in hydrogen fuel cells and other renewable energy technologies are increasing the region's need for platinum powder.

Major vendors in the global platinum powder market include, Anglo American Platinum Limited, American Elements, Umicore, Triveni Interchem Pvt. Ltd, Materion Corporation, BASF SE, Johnson Matthey, Heraeus Holding, Tanaka Holdings, Sino-Platinum Metals Co., Ltd, and Others.

Recent Developments

In May 2021, coraflon platinum powder coatings were created by PPG. These coatings offer outstanding weather resistance, durability, and color retention, making them ideal for outdoor applications. With this launch, PPG aimed to provide architects and builders with an effective means of enhancing the longevity and aesthetics of architectural metal surfaces.

Key Target Audience

Market Players
Investors
End-users
Government Authorities
Consulting And Research Firm
Venture capitalists
Value-Added Resellers (VARs)

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Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global platinum powder market based on the below-mentioned segments:

Global Platinum Powder Market, By Product Type
Sponge Platinum Powder
Chemical Precipitation Platinum Powder

Global Platinum Powder Market, By Purity
High Purity
Standard Purity

Global Platinum Powder Market, By Regional
North America
US
Canada
Mexico

Europe
Germany
Uk
France
Italy
Spain
Russia
Rest of Europe

Asia Pacific
China
Japan
India
South Korea
Australia
Rest of Asia Pacific

South America
Brazil
Argentina
Rest of South America

Middle East & Africa
UAE
Saudi Arabia
Qatar
South Africa
Rest of the Middle East & Africa

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About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.

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