Global Platinum Market was valued at USD 4.22 Billion in 2022 and is projected to reach USD 6.34 Billion by 2030, growing at a CAGR of 5.39% from 2024 to 2030.
The platinum market is poised for significant developments in 2025, driven by evolving industrial applications, investment trends, and supply-demand dynamics. As a precious metal with diverse uses, platinum's market trajectory is influenced by several key factors.
Industrial Demand and Applications
Platinum's primary industrial application is in automotive catalytic converters, where it plays a crucial role in reducing vehicle emissions. In 2025, demand for platinum in this sector is projected to reach 3.25 million ounces, marking the highest level since 2017. This increase is attributed to stricter emission regulations and the continued production of internal combustion engine vehicles, which require platinum-based catalysts. Additionally, the growing adoption of hybrid vehicles, which utilize platinum in their catalytic systems, is expected to sustain demand for the metal. The resurgence in hybrid sales, particularly plug-in hybrids, contributes significantly to this trend, with substantial increases noted in markets like China and the US. citeturn0news29
Jewelry Market Trends
In the jewelry sector, platinum is renowned for its durability and luster. The global jewelry market is forecasted to see a 1.64% rise in platinum demand, reaching 1.98 million ounces in 2025. This growth is driven by consumer preferences for luxury items and the metal's hypoallergenic properties. Notably, in China, a shift from traditional diamond jewelry to platinum pieces is observed, influenced by record-low marriage rates and soaring gold prices. This trend positions platinum as an affordable luxury alternative, appealing to a broader consumer base. citeturn0search5
Investment Demand
Investment demand for platinum is also on the rise, with expectations of a 6.9% increase to 420,000 ounces in 2025. Investors are attracted to platinum's rarity and its critical role in various industries, including automotive and jewelry. The metal's potential for price appreciation, coupled with its industrial significance, makes it an appealing asset for diversification in investment portfolios. However, it's important to note that platinum's market is less liquid compared to gold, which may influence investment decisions. citeturn0news28
Supply Constraints
Despite the robust demand, the platinum market is anticipated to experience a supply deficit in 2025. The World Platinum Investment Council (WPIC) forecasts a deficit of approximately 539,000 ounces, marking the third consecutive year of shortage. This supply-demand imbalance is attributed to limited mining output and challenges in recycling, which may constrain the availability of platinum in the market. citeturn0search4
Price Outlook
Platinum prices are expected to remain relatively rangebound in 2025, influenced by the ongoing supply deficit and strong demand across various sectors. Analysts predict that prices could range between $850 and $1,220 per ounce, reflecting the metal's market dynamics and its critical role in emission control technologies. citeturn0news34
Get an In-Depth Research Analysis of the Global Platinum Market Size And Forecast [2025-2032]
Anglo American Platinum
Stillwater Mining
Lonmin
Impala Platinum
Eastern Platinum
Norilsk Nickel
Glencore Xstrata
African Rainbow Minerals
North American Palladium
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Platinum Market
Catalysis
Medical Tools
Flat Panel Monitors
Alloying Agent
Others
Based on Types the Market is categorized into Below types that held the largest Platinum market share In 2023.
Purity 5%
Purity 10%
Purity99%
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Global, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Platinum Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Platinum Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Platinum Market, By Type
6. Global Platinum Market, By Application
7. Global Platinum Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Platinum Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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