Harrisburg, NC -- (SBWIRE) -- 10/30/2020 -- Global Platinum Market Research Report published by market insight reports explores the current outlook in Global and key regions from the perspective of Major Players, Countries, Product types and end industries. This report analyzes top players in the Global market, and divides the Market into several parameters.

This Platinum Market research report identifies the competitive landscape of industries to understand the competition at International level. This report study describes the projected growth of the Global market for approaching years from 2019 to 2025. This research report has been aggregated on the basis of static and dynamic aspects of the businesses.

The platinum market is expected to witness a CAGR of over 3%, globally, over the forecast period (2020 - 2025). Stringent environmental regulations to reduce hazardous emissions from automobiles and increasing demand from jewelry are driving the market. On the other hand, unfavorable conditions arising due to the COVID-19 outbreak are hindering the market growth.

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The prominent players in the Global Platinum Market:

Anglo American Platinum Limited, Norilsk Nickel, Northam Platinum Limited, Impala Platinum Holdings Limited, and Sibanye-Stillwater and Others.

Key Market Trends: -

Growing Demand for Exhaust Systems in Automobile Industry

- Platinum is naturally available metals in the form of ore and is 30 times rarer than gold. Platinum is one of the catalysts present in automobile exhaust systems. They help in eliminating or neutralizing the harmful elements from the car exhausts and accounts for 40% of the world's total platinum consumption. Additionally, the global 2019 production through mining and recycling stood at around 8.1 million ounces.
- Typically, a diesel automobile exhaust contains about 3-7 grams of platinum and it may vary with the brand and type of vehicle. Growing environmental concerns regarding carbon dioxide emission and to obtain net-zero emissions are expected to drive the market.
- Growing investments in hydrogen fuel cell vehicles and their successful trails are estimated to offset and increase the platinum demand for automobiles, which declined due to consumer shift from diesel to petrol and petrol hybrid vehicles.
- Fuel cell electric vehicles use double the amount of platinum compared to internal combustion vehicles. In fuel cell vehicles, hydrogen is used as fuel and platinum (being the most effective and durable catalyst) enables the chemical reaction with oxygen in the air that produces water and electricity. Electricity generated is used by the electric motor and water is emitted through exhaust, thereby, achieving zero emissions.
- The growing need to curb emissions, to reduce greenhouse gas impact on the environment, is expected to drive the market studied during the forecast period.

Asia-Pacific to Dominate the Market

- Asia-Pacific is expected to dominate the market studied during the forecast period, due to an increase in demand from countries, like China and India.
- In countries, like India and China, platinum demand is mainly dominated by the growing demand from the jewelry segment. China accounts for about 50% of the total platinum consumption in the jewelry segment, whereas Indias demand was estimated at 175 kilo ounces, which is around 6% demand in the jewelry segment. The growing aspirations toward jewelry among current millennials are expected to drive the market.
- Platinum is used as a catalyst in various chemical manufacturing processes. India and China are the largest chemical manufacturers in the world, due to their flexible environmental regulations, unlike Europe, and low labor costs.
- Platinum characteristics, like biocompatibility, high mechanical resistance, and low corrosive properties, make it uniquely suitable for a variety of medical applications. It is used in surgical instrumentation, electro-medical implants, and orthopedics. Platinum-based drugs, like cisplatin, are used in medication to treat various types of cancer.

Significant Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of Platinum Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Platinum Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth

Browse in-depth and report summary TOC on "Platinum Market":

https://www.marketinsightsreports.com/reports/10192356210/platinum-market-growth-trends-and-forecasts-2020-2025?Mode=18

Finally, the Platinum market report offers a complete and detailed study of Global Platinum market by using numerous analytical tools and models such as SWOT analysis, investment return analysis, and porter's five forces analysis which are useful for beginners to access the upcoming opportunities. After exploring the market insights through primary and secondary research methodologies, if anything is required except than this, market insight reports will provide customization as per specific demands.

Note: - All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.