Platinum increased 78.50 USD/t oz. or 8.78% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Platinum - values, historical data, forecasts and news - updated on March of 2025.

It is forecast that in 2022 the global supply of platinum will amount to some 8.2 million troy ounces. That would be a notable an increase from the global platinum supply in 2020, which was 6.6 million troy ounces.

South Africa is by far the world's leading country in terms of refined platinum supply. In 2022, the South African supply of refined platinum amounted to approximately 4.56 million ounces, and was forecast to decrease to 4.16 million ounces in 2023.

After two years of decline, the UK platinum market increased by 4.3% to $43.2B in 2024. In general, consumption, however, continues to indicate a mild descent. Over the period under review, the market attained the maximum level at $61.1B in 2013; however, from 2014 to 2024, consumption failed to regain momentum.

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.

Forecast: Import of Waste or Scrap Containing Platinum as Sole Precious Metal to Brazil 2016 - 2020 Discover more data with ReportLinker!

For the third consecutive year, the global platinum market recorded decline in sales value, which decreased by -0.3% to $6,310.1B in 2024. Overall, consumption, however, recorded a slight downturn. As a result, consumption reached the peak level of $8,660.3B. From 2014 to 2024, the growth of the global market remained at a somewhat lower figure.

The Romanian platinum market totaled $3.8B in 2024, standing approx. at the previous year. Over the period under review, consumption recorded a pronounced slump. Platinum consumption peaked at $6.1B in 2012; however, from 2013 to 2024, consumption stood at a somewhat lower figure.

In 2019, the supply of refined platinum worldwide stood at 8.2 million ounces. During 2020 it was estimated that this figure dropped considerably to 6.4 million ounces. It is forecast that global refined platinum supply will rebound to approximately 8.4 million ounces in 2021.

In 2024, the Portuguese platinum market decreased by -13.6% to $3.3B, falling for the second consecutive year after three years of growth. In general, consumption, however, continues to indicate a abrupt shrinkage. Platinum consumption peaked at $7.7B in 2012; however, from 2013 to 2024, consumption failed to regain momentum.

Gold: Gold's versatility and inherent value make it the most prominent precious metal, extensively used in jewelry, investment vehicles, and industrial applications. Its reputation for value retention and unique physical properties solidify its status as a preferred asset during economic downturns.Silver: Silver's exceptional conductivity and malleability make it ideal for electrical and electronic applications. Its uses also extend to jewelry, photography, and medical devices.Platinum: Platinum's rarity and value position it as a key material in jewelry, dentistry, and automotive catalytic converters.Palladium: Palladium, another rare metal, finds significant application in catalytic converters, jewelry, and electronics, as well as in dentistry and medical devices. Recent developments include: In September 2019, Stillwater Mining firm, a leading producer of palladium and platinum in the United States, was acquired by Sibanye-Stillwater, a South African mining firm. Sibanye-Stillwater made a big acquisition to extend its footprint in the precious metals market and diversify its portfolio., In October 2020, IBM and Mine Hub Technologies collaborated to bring blockchain technology to the precious metals sector. The system was created to promote transparency and efficiency in the precious metals supply chain. The collaboration was an important advance in the industry since it addressed the difficulties of traceability and responsible precious metal sourcing., In November 2020, Valcambi, a Swiss precious metals refining company, has announced an increase in gold refining capacity. The expansion was initiated in response to rising demand for gold. The corporation spent money on new technology to improve its refining process and expand its manufacturing capacity.. Key drivers for this market are: Rising demand for precious metals in jewelry, investments, and industrial applications

Growing concerns about economic uncertainty and geopolitical tensions. Potential restraints include: Fluctuating prices of precious metals due to economic and geopolitical factors

Availability of substitutes. Notable trends are: Blockchain technology for tracking and tracing precious metals

Sustainable mining practices.

The Irish platinum market contracted rapidly to $111M in 2024, falling by -15.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a resilient expansion from 2012 to 2024: its value increased at an average annual rate of +6.7% over the last twelve years.

In 2024, the Austrian platinum market increased by 0.1% to $5.4B, rising for the second consecutive year after five years of decline. In general, consumption saw a noticeable reduction. Platinum consumption peaked at $15B in 2014; however, from 2015 to 2024, consumption remained at a lower figure.

Emission Control Catalyst Market Size and Forecast

Emission Control Catalyst Market size was valued at USD 51.95 Billion in 2024 and is projected to reach USD 84.76 Billion by 2031, growing at a CAGR of 6.96% from 2024 to 2031.

Global Emission Control Catalyst Market Drivers

Stringent Emission Regulations: The emission control catalyst market is being driven primarily by more stringent emission rules worldwide. According to the International Council on Clean Transportation (ICCT), the European Union enacted Euro 6d emission rules in 2020, which require passenger automobiles to emit no more than 80 mg/km of nitrogen oxides (NOx). Similarly, the US Environmental Protection Agency (EPA) claims that since 2017, heavy-duty highway engines must fulfill NOx requirements of 0.20 grams per brake horsepower-hour (g/bhp-hr). These tighter rules are pushing up demand for more efficient emission control catalysts.

Growth in Automotive Production: The rising worldwide automobile sector is driving the emission control catalyst market. Despite the pandemic-induced slowdown, the International Organization of Motor Vehicle Manufacturers (OICA) estimated that worldwide vehicle production reached 77.6 million units in 2020. With the automobile industry reviving, the International Energy Agency (IEA) predicts that the worldwide electric vehicle stock will reach nearly 145 million by 2030, up from 11 million in 2020. This growth in both conventional and electric vehicles is increasing the demand for emission control catalysts.

• Platinum Mining Market Scope:

The report on Platinum Mining Market offers in-depth analysis of market trends, drivers, restraints, opportunities etc. Along with qualitative information, this report includes the quantitative analysis of various segments in terms of market share, growth, opportunity analysis, market value, etc. for the forecast years. The global platinum mining market is segmented on the basis of type, application, and geography.

The Global Platinum Mining market is estimated to be US$ XX.X Mn in 2019 and is projected to increase significantly at a CAGR of x.x% from 2020 to 2028. Read More

The Danish platinum market skyrocketed to $8.3M in 2024, jumping by 38% against the previous year. Over the period under review, consumption, however, continues to indicate a perceptible downturn. Platinum consumption peaked at $20M in 2015; however, from 2016 to 2024, consumption stood at a somewhat lower figure.

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.

In 2024, the Norwegian platinum market decreased by -11% to $1.9B, falling for the third consecutive year after two years of growth. Overall, consumption continues to indicate a deep reduction. Over the period under review, the market attained the peak level at $4B in 2012; however, from 2013 to 2024, consumption failed to regain momentum.

In 2024, the Croatian platinum market was finally on the rise to reach $4.3M after two years of decline. Overall, consumption continues to indicate a temperate expansion. Platinum consumption peaked at $8.4M in 2021; however, from 2022 to 2024, consumption stood at a somewhat lower figure.

In 2024, the German platinum market decreased by -4.4% to $39.5B, falling for the second year in a row after seven years of growth. Over the period under review, consumption continues to indicate a strong expansion. Platinum consumption peaked at $46.8B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.