Palladium increased 62.50 USD/t oz. or 7.03% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Palladium - values, historical data, forecasts and news - updated on March of 2025.

As of 2022, the average closing price of palladium was 2,061 U.S. dollars per troy ounce, a 14 percent drop compared to the 2021 average closing price. Furthermore, Palladium prices had an average price of 1,491 U.S. dollars per troy ounce based on the first four months of 2023. Palladium is a precious metal commodity that is used in jewelry and automotive manufacturing.

In 2023, the price of palladium in the USA reached 1493 USD/Troy Ounce (H2 2023 Avg Price). It encompasses an in-depth review of spot price of palladium at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of palladium price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

Rhodium increased 1,000 USD/t oz. or 21.86% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Rhodium - values, historical data, forecasts and news - updated on March of 2025.

Rhodium price data, historical values, forecasts, and news provided by Money Metals Exchange. Rhodium prices and trends updated regularly to provide accurate market insights.

Rhodium is a precious metal that removes pollutants from vehicle exhaust fumes. In February 2020, the price of rhodium was 11,665 U.S. dollars per troy ounce. By May 2020, the price decreased to below 8,000 U.S. dollars per ounce. In April 2021, the price rose to a new high of 28,775 U.S dollars, before decreasing throughout 2022 and early 2023. By December 2024, the average price significantly decreased, reaching around 4,575 U.S. dollars per troy ounce. In comparison, the price for an ounce of rhodium was approximately 5,905 U.S. dollars in August 2022. The rarest metal: Rhodium Rhodium is a rare and precious metal that belongs to the platinum group metals (PGMs), along with platinum, palladium, osmium, iridium, and ruthenium. Due to its scarcity, it is one of the most valuable metals in the world, often exceeding the price of gold. Rhodium is extensively used in the automotive industry to manufacture catalytic converters that reduce harmful emissions. Over the last few years, even with a steady supply, Rhodium demand has risen significantly, exceeding supply due to stricter emission regulations and advancements in the automobile industry. The significance of PGMs in South Africa South Africa is rich in various natural resources, such as metals and minerals. For example, almost all of the total global reserves of PGMs are in South Africa. In 2023, PGMs generated the highest revenue share in the South African mining sector compared to other commodities, amounting to 370 billion rands.

This dataset provides values for PALLADIUM reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

All of the five largest publicly owned produces of platinum have seen significant growth in their share price over recent years, with each company's share price at least doubling between January 2018 and May 2021. The highest gains were seen by South African mining company Impala Platinum, whose share price increased by nearly 600 percent over this time. Most leading platinum miners saw their share price increase by between 400 and 500 percent.

Gold and silver prices increased over the course of 2021, but these did not grow as fast as the prices of iridium and, especially, rhodium. According to a comparison of price indices, the price for rhodium - a precious metal similar to platinum and used especially in catalytic converters of cars - was ten times higher in April 2021 than it was in January 2019. The price hike for rhodium was apparently caused by coronavirus-related lockdowns implemented in South Africa, where mining companies had to close for several weeks.

Between December 2021 and January 2022, the price of shares in the Aberdeen Standard Physical Palladium Shares ETF grew by roughly 22 percent, increasing from 176.2 U.S dollars to 219.7 U.S. dollars per share. The Aberdeen Standard Physical Palladium Shares ETF has been the fastest-growing precious metal ETF over the last year. The Aberdeen Standard Physical Palladium Shares ETF owns palladium bars, meaning each share is effectively ownership of a share of physical palladium. Shares are traded on the New York Stock Exchange, while the physical palladium is stored in London.

In 2025, the price of platinum is forecast to hover around 1,150 U.S. dollars per troy ounce. Meanwhile, the cost of per troy ounce of gold is expected to amount to 1,700 U.S. dollars.

Precious metals

Precious metals are counted among the most valuable commodities worldwide. The most well known such metals are gold, silver and the platinum group metals. A precious metal can be used as an industrial commodity or as an investment. The major areas of application include the following sectors: technology, car-making, industrial manufacturing and jewelry making. Furthermore, gold and silver are used as coinage metals, and gold reserves are held by the central banks of many countries worldwide in order to store value or for use as a redemption medium. The idea behind this procedure is that gold reserves will help secure and stabilize the countries’ respective currencies. At 8,100 tons, the United States is the country with the most extensive stock of gold. It is kept in an underground vault at the New York Federal Reserve Bank.

Russia, the United States, Canada, South Africa and China are the main producers of precious metals. Silver is the most abundant of the metals, followed by gold and palladium. Barrick Gold is the world’s largest gold mining company. The Toronto-based firm produced some five million ounces of gold in 2020. The leading silver producers include Mexico-based Fresnillo, Poland’s KGHM Polska Miedž and the mining giant Glencore. Anglo Platinum and Impala are the key mining companies to produce platinum group metals.

In 2023, Silver prices are expected to settle at around 23.5 U.S. dollars per troy ounce. It is expected to remain the precious metal with the lowest value per ounce. The price of gold is forecast to drop to around 1,663 U.S. dollars per ounce, making it the most expensive precious metal in 2023.

The mine production of palladium in Russia reached an estimated 75 metric tons in 2024. This production volume ranked Russia as the world's leading palladium producer that year. The average price of palladium was 1,491 U.S. dollars per ounce in 2023. Palladium is a platinum group metal. Uses of palladium The largest share of global palladium consumption is attributed to catalytic converter production, a key component of internal combustion engines that power the majority of motor vehicles produced worldwide. Other areas of application of palladium are electronics, jewelry, medical purposes, dentistry, and other chemical applications. Palladium is a key component of fuel cells, which are used to convert chemical energy from fuel into electricity. Regional palladium production In 2024, approximately 190 metric tons of palladium was produced worldwide. South Africa was the second-largest palladium producer after Russia that year, with production amounting to some 72 metric tons. The top palladium consuming regions are China, North America, and Europe. The United States and China are also the two individual countries with the largest global market shares of auto production.

This dataset provides values for PALLADIUM reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

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Automotive Catalyst Market Size 2024-2028

The automotive catalyst market size is forecast to increase by USD 2.18 billion at a CAGR of 2.9% between 2023 and 2028.

The market is driven by several key factors, including the increasing production of vehicles and the growing emphasis on reducing pollutants. Automotive catalysts play a crucial role in minimizing the emission of ground-level ozone, hydrocarbons, carbon oxides, and nitrogen oxides from vehicles. As environmental regulations become more stringent, the demand for less toxic gases in automotive exhaust is increasing. Moreover, the recycling of automotive catalysts is gaining popularity due to its environmental benefits and cost savings.
The shift towards hybrid vehicles and electric vehicles is also impacting the market, as these vehicles may not require traditional catalytic converters. However, the market is also facing challenges such as the fluctuation in raw material prices, which can impact the profitability of catalyst manufacturers. Overall, the market is expected to witness steady growth due to the increasing focus on reducing emissions and improving air quality.

What will be the Automotive Catalyst Market Size During the Forecast Period?

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How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  Light-duty vehicle
  Heavy-duty vehicle


Product

  Palladium
  Platinum
  Rhodium
  Ruthenium and others


Geography

  APAC

    China
    Japan


  Europe

    Germany


  North America

    Canada
    US


  South America



  Middle East and Africa

By Application Insights

The light-duty vehicle segment is estimated to witness significant growth during the forecast period. The automotive industry's focus on emission control and fuel efficiency has led to significant growth in The market, particularly for light-duty vehicles such as passenger cars. In 2023, this segment accounted for a substantial market share. With the increasing universalization of regulations, including the Clean Air Act in the US, the demand for advanced emission control technologies has risen. Initially, simple catalysts made of platinum were used to convert carbon monoxide and unburnt hydrocarbons.

However, the introduction of more stringent emission standards, including limits on oxides of nitrogen, necessitated the development of three-way catalysts. These catalysts, which contain platinum, palladium, and rhodium, can effectively reduce all three major pollutants: carbon monoxide, hydrocarbons, and nitrogen oxides. Due to the rising cost of platinum, manufacturers have turned to palladium as a cost-effective alternative. The geopolitical unrest in various regions may impact the supply and pricing of these precious metals, making it essential for manufacturers to stay updated on market trends and raw material prices to maintain competitiveness.

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The light-duty vehicle segment was valued at USD 9.87 billion in 2018 and showed a gradual increase during the forecast period.

Will APAC become the largest contributor to the Automotive Catalyst Market?

APAC is estimated to contribute 55% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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As per automotive catalyst market analysis, the automotive catalyst market in the Asia-Pacific (APAC) region holds a substantial share, driven by the expanding automotive industry and a growing emphasis on reducing vehicle emissions. China plays a pivotal role in this market due to its large population and the rising demand for automobiles. This demand has spurred increased production and usage of catalytic converters in both light-duty and heavy-duty vehicles, with noble metals such as palladium, rhodium, and platinum serving as key components.

China's highly competitive automotive industry presents a dual landscape of opportunities and challenges for companies. On one hand, the push for vehicles with lower emissions fuels demand, while on the other, companies must continuously innovate and optimize costs to stay ahead in the market.

Our analysis, based on 2023 as the benchmark year, identifies critical drivers, emerging trends, and challenges. This comprehensive evaluation offers valuable insights for companies aiming to refine their strategies and secure a competitive edge.

Market Dynamics

The automotive catalyst market growth plays a crucial role in the transpor

Emission Control Catalyst Market was valued at $48.33 B in 2023, and is projected to reach $USD 87.38 B by 2032, at a CAGR of 6.80% from 2023 to 2032.

Global Braze Alloys Market valued at $2,800.78 Million in 2022, and is projected to $3,805.47 Million by 2030, at a CAGR of 3.91% from 2023 to 2030.

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Two-Wheeler Catalytic Converter Market Size and Trends

The two-wheeler catalytic converter market size is forecast to increase by USD 560.7 million, at a CAGR of 5.6% between 2023 and 2028. The market is experiencing significant growth due to several key trends. The increasing stringency of emission norms for two-wheelers is driving the demand for more efficient exhaust systems, thereby boosting market growth. Another trend is the emergence of dual-sport motorcycles, which require advanced catalytic converters to meet emission standards while providing optimal performance on and off-road. Additionally, the high penetration of low-cost bikes in developing countries is expanding the market base. Despite these growth factors, challenges such as high production costs and complex regulatory requirements pose significant hurdles for market participants. Overall, the two-wheeler catalytic converter market is expected to witness steady growth in the coming years due to these trends and challenges.

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The two-wheeler catalytic converter market is witnessing significant growth due to increasing emission norms and consumer awareness towards environmental pollution. Selective Catalytic Reduction (SCR) and Lean NOx Catalysts (LNC) are the primary technologies used in two-wheeler catalytic converters for controlling emissions from Internal Combustion Engines (ICE). SCR technology uses ammonia to reduce nitrogen oxides (NOx) emissions, while LNC technology uses a lean exhaust gas stream to reduce NOx emissions. Lean NOx traps, a type of catalytic converter, are gaining popularity due to their ability to reduce NOx emissions effectively in lean-burn engines. The catalyst chamber in the exhaust system plays a crucial role in the conversion process, using palladium, platinum, and rhodium as catalysts to convert toxic gases like carbon monoxide, hydrocarbons, and NOx into harmless gases. Economic conditions and infrastructure development also influence market growth. Economic growth leads to increased vehicle sales, while infrastructure development facilitates the establishment of manufacturing units and research centers. The market is expected to continue growing as emission norms become stricter and consumer awareness towards environmental pollution increases.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD Million ' for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

Application Outlook

  Entry level
  Mid-size
  Full size


Product Outlook

  Palladium
  Platinum
  Others


Geography Outlook

  North America

    The U.S.
    Canada





  Europe

    U.K.
    Germany
    France
    Rest of Europe





  APAC

    China
    India





  Middle East & Africa

    Saudi Arabia
    South Africa
    Rest of the Middle East & Africa


  South America

    Argentina
    Brazil
    Chile

By Application Insights

The market share growth by the entry-level segment will be significant during the forecast period. The Two-Wheeler Catalytic Converter Market is driven by stringent emission norms and the need for effective emissions control in internal combustion engines. Selective Catalytic Reduction (SCR) and Lean NOx Catalysts (LNC) are two primary technologies used to reduce toxic gases, including nitrogen oxides (NOx) and carbon monoxide (CO), in the exhaust system of two-wheelers. Lean NOx Traps (LNT) and Three-way catalytic converters are other emission control devices used to minimize hydrocarbon emissions. These catalytic converters contain precious metals such as palladium, platinum, and rhodium, which make them expensive. However, the increasing focus on air quality and environmental pollution has led to the implementation of stricter vehicle pollution standards.

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The entry-level segment was valued at USD 1.56 billion in 2018. As a result, automotive manufacturers are investing heavily in research and development to improve the efficiency of catalytic converters and reduce their cost. Moreover, the economic conditions and the aftermarket for catalytic converters have also influenced the market's growth. Emission monitoring and recycling of precious metals from spent catalytic converters, also known as urban mining or green metals, have emerged as potential opportunities for market expansion. The recycling of these metals not only reduces the environmental impact but also makes the catalytic converters more cost-effective. Heavy-duty two-wheelers and diesel engines require specialized catalytic converters, such as diesel oxidation catalysts, to meet emission norms. The market for these converters is expected to grow significantly due to the increasing demand for fuel-efficient and environm

The global colloidal metal particles market size was valued USD 17.23 billion in 2023 and is expected to rise to around USD 32.57 billion by 2032 at a CAGR of 7.25%.