Platinum fell to 1,646.20 USD/t.oz on December 2, 2025, down 0.99% from the previous day. Over the past month, Platinum's price has risen 5.18%, and is up 73.12% compared to the same time last year, 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 December of 2025.

The Report Covers Global Platinum Market Analysis & Trends and is Segmented by Application (Exhaust Systems, Jewelry, Chemical Catalysts, Glass Production, Electronics, and Other Applications) and Geography (Asia-Pacific, North America, Europe, and Rest of the World). For Each Segment, The Market Sizing and Forecasts Have Been Done On the Basis of Volume (thousand Ounces).

Monthly and long-term platinum price data (US$/toz): historical series and analyst forecasts curated by FocusEconomics.

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Platinum Market Size 2025-2029

The platinum market size is valued to increase USD 1.88 billion, at a CAGR of 4.5% from 2024 to 2029. Growing demand for platinum in various industries will drive the platinum market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 53% growth during the forecast period.
By End-user - Automotive segment was valued at USD 2.71 billion in 2023
By Source - Primary segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 39.16 million
Market Future Opportunities: USD 1883.30 million
CAGR from 2024 to 2029 : 4.5%

Market Summary

The market is a dynamic and evolving entity, driven by the increasing demand for this precious metal in various industries. One of the primary sectors fueling this growth is the automobile industry, where platinum is extensively used in exhaust systems to reduce emissions. The energy-intensive processing of platinum further underscores its value and demand. According to recent reports, the automotive sector accounts for approximately 40% of global platinum demand. As regulatory pressures mount to reduce emissions and improve fuel efficiency, the demand for platinum in catalytic converters is expected to continue growing.
However, challenges such as price volatility and the availability of alternative materials pose significant obstacles to market expansion. Despite these hurdles, the market presents numerous opportunities for innovation and growth, particularly in the development of cost-effective and sustainable platinum alternatives.

What will be the Size of the Platinum Market during the forecast period?

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How is the Platinum Market Segmented?

The platinum industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Automotive
  Jewelry
  Industrial
  Investment


Source

  Primary
  Secondary


Form Factor

  Platinum bars
  Platinum coins


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  APAC

    Australia
    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By End-user Insights

The automotive segment is estimated to witness significant growth during the forecast period.

Platinum, a precious metal, plays a pivotal role in various industries, particularly in the automotive sector, where it contributes to reducing emissions of harmful gases like CO2 and NO2 through catalytic conversion. In addition to automotive catalysts, platinum finds extensive use in other automobile components, such as antilock braking systems, airbag initiators, and spark plugs. The demand for platinum in automobiles is propelled by stringent regulations aimed at minimizing emissions and enhancing fuel efficiency. Moreover, the application scope of platinum extends beyond automobiles. In agriculture, platinum-based products offer numerous benefits, including improved nutrient uptake efficiency, enhanced nutrient delivery, and water use efficiency.

These benefits are crucial for crop resilience factors, such as stress tolerance mechanisms, biotic stress resistance, and photosynthesis stimulation. Platinum's role in agriculture also includes the promotion of beneficial microorganisms, integrated pest management, and soil health indicators like soil microbial diversity and soil enzyme activity. The market for platinum in agriculture is experiencing significant growth. According to recent reports, the market is projected to increase by 15%, with a similar growth rate expected in the near future. This expansion is driven by the increasing adoption of sustainable agriculture practices, such as precision agriculture technology, which relies on platinum for enhanced root development enhancement and crop quality attributes.

Furthermore, platinum's role in improving fertilizer use efficiency and potassium availability has garnered significant attention, leading to a 20% increase in demand for platinum-based products in the agricultural sector. Platinum's potential in carbon sequestration is another promising application, with estimates suggesting that platinum-based products could sequester up to 10% of global CO2 emissions. This development aligns with the growing focus on reducing greenhouse gas emissions and mitigating climate change. Additionally, platinum's ability to stimulate plant growth through plant hormone modulation and phosphorus solubilization contributes to plant biomass accumulation and plant disease resistance. In conclusion, the market for platinum in various industries, particularly in automobiles and agriculture, is witnessing continuous growth and innovation.

After two years of decline, the global platinum market increased by 9% to $7,629.4B in 2024. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $8,976B. From 2014 to 2024, the growth of the global market failed to regain momentum.

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In 2024, the Ethiopian platinum market increased by 32% to $30M, rising for the second year in a row after two years of decline. Over the period under review, consumption saw a relatively flat trend pattern. Platinum consumption peaked at $144M in 2017; however, from 2018 to 2024, consumption stood at a somewhat lower figure.

The Platinum Group Metals Report is Segmented by Metal Type (Platinum, Palladium, Rhodium, and More), Application (Auto Catalysts, Electrical and Electronics, and More), Source (Primary (Mined), Recycled/Secondary), End-Use Industry (Automotive, Industrial Chemicals, and More), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa). The Market Forecasts are Provided in Terms of Volume (tons).

This dataset contains the predicted prices of the asset Gram Platinum over the next 16 years. This data is calculated initially using a default 5 percent annual growth rate, and after page load, it features a sliding scale component where the user can then further adjust the growth rate to their own positive or negative projections. The maximum positive adjustable growth rate is 100 percent, and the minimum adjustable growth rate is -100 percent.

The size of the Platinum Industry market was valued at USD 7.9 Billion in 2023 and is projected to reach USD 11.27 Billion by 2032, with an expected CAGR of 5.2% during the forecast period. Recent developments include: April 2022: Impala Platinum Holdings Limited plans to acquire a 100% stake in the South Africa-based platinum manufacturer Royal Bafokeng Platinum. It already owns 35.3% of the shares of Royal Bafokeng Platinum. The 100% acquisition will pave the way for creating one of the biggest platinum metal miners worldwide. It will also help Impala consolidate its market position., February 2022: Heraeus Holding agreed to form a joint venture with BASF SE to recover precious metals, including platinum, from spent automotive catalysts in China. Under this joint venture, a new company named BASF Heraeus Metal Resource Co. Ltd. will be set up in Pinghu, China.. Key drivers for this market are: Increasing Usage in the Industrial Applications, Growing Demand for Applications in the Automotive Industry. Potential restraints include: High Product Prices. Notable trends are: Growing Demand for Exhaust Systems in Automobile Industry.

After two years of decline, the GCC platinum market increased by 8.5% to $58.8B in 2024. The market value increased at an average annual rate of +2.2% from 2012 to 2024; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, consumption reached the peak level of $62.6B. From 2022 to 2024, the growth of the market remained at a somewhat lower figure.

The platinum market, valued at approximately $XX million in 2025, is projected to experience robust growth, driven by a Compound Annual Growth Rate (CAGR) of 4.52% from 2025 to 2033. This expansion is fueled by several key factors. The automotive industry's increasing demand for platinum in catalytic converters, particularly in regions with stringent emission regulations like Europe and North America, is a major contributor. Furthermore, the growing electronics sector, which utilizes platinum in various components, is significantly boosting demand. The jewelry sector, though subject to fluctuating consumer preferences, remains a consistent consumer of platinum, contributing to market stability. Technological advancements in chemical catalysis and glass production are also increasing platinum's applications, further fueling market growth. However, price volatility in precious metals and potential supply chain disruptions pose challenges to sustained growth. Geographic distribution reveals strong demand in Asia-Pacific, particularly China and India, driven by their expanding industrial sectors and growing middle classes. North America and Europe continue to be significant markets, albeit with potentially slower growth compared to Asia-Pacific. Competition among leading platinum producers, including Anglo American Platinum, Johnson Matthey, and Sibanye-Stillwater, is intense, resulting in ongoing efforts to optimize production and explore new applications. The forecast period (2025-2033) suggests a continuous expansion of the platinum market, with notable growth anticipated in emerging economies. However, strategic considerations for companies involve navigating price fluctuations, diversifying applications beyond traditional sectors, and securing sustainable supply chains. Increased investment in research and development focused on new platinum applications, especially in green technologies like fuel cells and hydrogen production, presents a lucrative avenue for growth in the long term. The successful integration of platinum into these emerging sectors could significantly amplify the market's future trajectory beyond the projected CAGR. Overall, the platinum market is positioned for consistent, albeit moderated, expansion, fueled by a blend of established and emerging applications, but also susceptible to macroeconomic and geopolitical influences. Recent developments include: April 2022: Impala Platinum Holdings Limited plans to acquire a 100% stake in the South Africa-based platinum manufacturer Royal Bafokeng Platinum. It already owns 35.3% of the shares of Royal Bafokeng Platinum. The 100% acquisition will pave the way for creating one of the biggest platinum metal miners worldwide. It will also help Impala consolidate its market position., February 2022: Heraeus Holding agreed to form a joint venture with BASF SE to recover precious metals, including platinum, from spent automotive catalysts in China. Under this joint venture, a new company named BASF Heraeus Metal Resource Co. Ltd. will be set up in Pinghu, China.. Key drivers for this market are: Increasing Usage in the Industrial Applications, Growing Demand for Applications in the Automotive Industry. Potential restraints include: Increasing Usage in the Industrial Applications, Growing Demand for Applications in the Automotive Industry. Notable trends are: Growing Demand for Exhaust Systems in Automobile Industry.

According to Cognitive Market Research, the global Platinum Mining market size is USD 5515.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 5.30% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 2206.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.5% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 1654.56 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 1268.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.3% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 275.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 110.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.
The Open-Pit held the highest Platinum Mining market revenue share in 2024.

Market Dynamics of Platinum Mining Market

Key Drivers of the Platinum Mining Market

Growing Demand for Catalytic Converters to Increase the Demand Globally

The necessity of platinum in lowering hazardous emissions from gasoline and diesel automobiles is driving the demand for catalytic converters. The automotive industry is seeing increased demand for platinum due to the tightening worldwide pollution rules. Due to these laws, which require catalytic converters to reduce pollution, there is a substantial market for platinum as a catalyst. To help with environmental conservation efforts, the metal catalyzes chemical reactions that transform toxic gasses like hydrocarbons, nitrogen oxides, and carbon monoxide into less dangerous compounds. As a result, platinum is viewed as a critical element in the global effort to achieve cleaner and more sustainable transportation due to its indispensable nature in catalytic converters.

Increasing Demand for Jewelry to Propel Market Growth

Due to its legendary durability and alluring shine, platinum jewelry is increasingly in demand. The popularity of platinum jewelry will only increase due to growing disposable incomes and a growing demand for luxury items, especially in emerging nations. Platinum's classic beauty and standing as a symbol of refinement and sophistication are drawing in more and more customers. Furthermore, the metal is favored for fine jewelry due to its hypoallergenic qualities and tarnish resistance. Platinum jewelry is expected to continue in high demand as the luxury market grows internationally due to changing consumer tastes and lifestyle trends, solidifying its status as a sought-after option for affluent customers.

Key Restraint of the Platinum Mining Market

Price Volatility to Limit the Sales

Numerous causes can cause fluctuation in platinum pricing, which can present difficulties for producers and buyers alike. The platinum market is susceptible to price instability due to various factors, including shifts in the demand for investments and industrial products, geopolitical tensions, currency fluctuations, and supply and demand dynamics. Furthermore, macroeconomic variables that affect investor sentiment and platinum prices include inflation rates, interest rate fluctuations, and growth in the world economy. Producers may find it difficult to plan their output and investment decisions due to this inherent unpredictability, while consumers may need help setting budgets and establishing pricing plans. Therefore, managing risk in the platinum market needs strategic decision-making and close attention to detail to minimize the impact of price volatility on both supply chain ends.

Key Trend of the Platinum Mining Market

ESG integration, technological breakthroughs, and the demand for clean energy all contribute to the industry's expansion.

Driven by increasing demand for clean energy alternatives, particularly in the automotive industry where platinum is still necessary for catalytic converters and its usage in hydrogen fuel cells is growing, the platinum mining industry is experiencing a revolutionary shift in 2025. The demand for platinum-based components is growing as a result of increasing investment in green technologies, such as ...

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

This dataset contains the predicted prices of the asset $PLATINUM over the next 16 years. This data is calculated initially using a default 5 percent annual growth rate, and after page load, it features a sliding scale component where the user can then further adjust the growth rate to their own positive or negative projections. The maximum positive adjustable growth rate is 100 percent, and the minimum adjustable growth rate is -100 percent.

This dataset contains the predicted prices of the asset Base Platinum over the next 16 years. This data is calculated initially using a default 5 percent annual growth rate, and after page load, it features a sliding scale component where the user can then further adjust the growth rate to their own positive or negative projections. The maximum positive adjustable growth rate is 100 percent, and the minimum adjustable growth rate is -100 percent.

The Platinum Market size was valued at USD 5.2 billion in 2023 and is projected to reach USD 7.32 billion by 2032, exhibiting a CAGR of 5.0 % during the forecasts period.

The North America platinum market size was valued at USD 5.94 billion in 2024 and is projected to reach from USD 6.29 billion in 2025 to USD 10.01 billion by 2033, growing at a CAGR of 5.9% during the forecast period (2025-2033).
Report Scope:

In 2024, the Pakistani platinum market increased by 42% to $149.1B, rising for the third year in a row after three years of decline. The market value increased at an average annual rate of +3.7% from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

View monthly updates and historical trends for Platinum Price. from United Kingdom. Source: World Bank. Track economic data with YCharts analytics.