Rhodium rose to 8,050 USD/t oz. on December 2, 2025, up 0.94% from the previous day. Over the past month, Rhodium's price has fallen 1.23%, but it is still 75.96% higher than a year ago, 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 December 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.

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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 transportation se

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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.