Strategic Insight into the Platinum Group Metals Market

Platinum group metals (PGMs) is a family of metals which includes platinum, rhodium, osmium, ruthenium, palladium and iridium. Properties such as high melting point make them high temperature resistant and corrosion resistant. End use industrial applications of platinum group metals include their use in the catalysis of petroleum processing, production of nitric acid, flat panel monitors, manufacturing of medical tools such as pacemakers and stain for DNA fingerprints, automobiles, glass fiber, hard drives, nylon razors and others. Platinum metals posses’ high aesthetic features which makes them valuable jewelry item.

Read Report Overview @

Growing demand and production of automobiles is expected to drive the market in developing countries of Asia Pacific region. Changing lifestyle and rising disposable income is driving the automobile market in this region. Owing to properties such as stability, conductivity and durability; electronic and safety systems of automobiles uses PGMs to improve the vehicle efficiency. PGMs are used as a catalyst in fuel cells and catalytic converters which makes the vehicle eco friendly. Further, stringent standards for emissions of diesel vehicles is expected to drive the market as auto-catalysts are used to control emissions. In addition, rising demand for platinum metal based jewelry from developing countries is expected to drive PGMs market.

Huge gap between supply and demand of the platinum group metals is expected to hamper the market growth. The demand for these metals is growing owing to increasing number of applications but the supply is limited. Technological advances in the field of nanotechnology have resulted in development of fine tuned nanoparticles of cheaper metals, which are expected to replace some of PGMs from their applications. For instance, nanoparticles of nickel are replacing PGMs in industries such as automotive and other industrial applications. Rising demand for fuel cells and strict government regulations regarding carbon emissions are expected to provide opportunities for the players in the near future. Due to technological advances in nuclear chemistry field nuclear reactor based production of ruthenium, rhodium and palladium is possible which is expected to increase the supply of PGMs. Recovery of PGMs from mine waste and recycled materials is expected to improve the supply owing to acceptance of new technologies.

Asia Pacific region is expected to grow at higher rate owing to changing life style of growing population and increase in disposable income. The demand in this region is mainly due to rising automobile industry and growing consumer group preference for white metal jewelry items. Africa region was the largest producer of the platinum group metals but due to labor disruptions and safety issues; mining of these metals has been stopped and some of the marginal mines have closed, which is affecting the global supply. Europe followed the Asia Pacific region in consumption. Stringent government regulations regarding carbon emissions of diesel vehicles are expected to drive the market in this region.

Request to view Sample Report:

Some of the key players in this market include Stillwater Mining Co., Anglo American Platinum Ltd., Impala Platinum Holding Ltd., Lonmin plc., JSC MMC Norilsk Nickel, Eastern Platinum Ltd., Glencore Xstrata plc, North American Palladium Ltd., African Rainbow Minerals Ltd. and among others.




About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact

Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com


Comments

Post a Comment

Popular posts from this blog

Sodium Cocoyl Isethionate Market to Undertake Strapping Growth During 2026

The global sodium cocoyl isethionate market was valued at US$ 137.8 Mn in 2017 and is anticipated to expand at a CAGR of 5.3% from 2018 to 2026, according to a new report titled ‘Sodium Cocoyl Isethionate Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR). Rise in consumer preference for sulfate-free skin friendly products is likely to propel the demand for sodium cocoyl isethionate during the forecast period. Read Report Overview @ https://www.transparencymarketresearch.com/sodium-cocoyl-isethionate-market-2018-2026.html Increase in Demand for Sulfate-free Formulations in Personal Care Products to Drive Market Sodium cocoyl isethionate is a mild surfactant that offers excellent detergent properties. It is mild on the skin and leaves a soft after-feel. Extensive usage of sodium cocoyl isethionate as mild surfactant in hair care and skin care products has created oppor...
Keep reading

High-performance Anti-corrosion Coatings Market to Record an Exponential CAGR by 2024

The global high-performance anti-corrosion coatings market was valued at US$ 12.60 Bn in 2017 and is anticipated to expand at a CAGR of 5.9% from 2018 to 2026, according to a new report titled ‘High-performance Anti-corrosion Coatings Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR). The global high-performance anti-corrosion coatings market is driven by growth of the global oil & gas industry. Asia Pacific accounts for a major share of the global market, due to growth of construction, marine, and oil & gas industries in the region. Read Report Overview @ https://www.transparencymarketresearch.com/high-performance-anticorrosion-coatings-market.html The number of oil & gas drilling and exploration activities has increased in the last few years. The Gulf of Mexico, Southeast Asia, and North Sea are currently rich in oil & gas resources and they have a large ...
Keep reading

Tattoo Inks Market to Undertake Strapping Growth During 2026

Submitted 1 sec ago by  TMR Market research . The global tattoo inks market was valued at US$ 122.25 Mn in 2017. It is anticipated to expand at a CAGR of 5.55% from 2018 to 2026, according to a new research report titled ‘Tattoo Inks Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR) The global tattoo inks market is driven by rise in the popularity of tattoos among youngsters worldwide. In terms of demand, North America accounts for a dominant share of the global tattoo inks market. Read Report Overview @ https://www.transparencymarketresearch.com/tattoo-inks-market.html Rise in Demand for Tattoos among Youngsters to Boost Market Tattooing is an increasing fashion phenomenon that has attracted more than 100 million young adults across the globe to date. According to the Council of Europe, one in five individuals in the U.K. is tattooed. The figure rises to one in thre...
Keep reading