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Platinum Group Metals (PGMs) Market Size, Market Share, Trends … – GlobeNewswire

| Source: Rationalstat LLC Rationalstat LLC
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Wilmington, delaware, Oct. 16, 2023 (GLOBE NEWSWIRE) — Global Platinum-Group Metals Market value is US$ 14.8 billion in 2023 and is expected to grow at a significant CAGR of over 4.5% over the forecast period of 2023-2030, according to the latest market report by RationalStat



Market Definition, Market Scope, and Report Overview
The Platinum-Group Metals (PGMs) market is influenced by various drivers that impact supply, demand, and prices of these precious metals. The automotive industry is a major driver of PGM demand, primarily for catalytic converters. Stricter emissions regulations and the global shift toward cleaner vehicles contribute to increased demand for PGMs, particularly platinum, palladium, and rhodium.
Governments across the globe are implementing stricter emissions regulations for vehicles and other sources of pollution. This is driving the demand for PGMs, which are used in catalytic converters and other pollution control devices.
Further, PGMs have essential uses in various industrial applications, including electronics, chemical processing, and aerospace. Advances in these industries can drive increased demand for PGMs. Platinum is highly valued in the jewelry industry for its beauty and durability. Changes in consumer preferences and economic conditions can influence demand for platinum jewelry.
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Global Platinum-Group Metals Market: Segmental and Market Share Analysis
Report Synopsis
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global platinum-group metals include,
Some of the prominent players and suppliers operating and contributing significantly to the global platinum-group metals growth include African Rainbow Minerals, Anglo American Platinum, Glencore, Implats Platinum Limited, Johnson Matthey, Northam Platinum Limited, PJSC MMC Norilsk Nickel, Royal Bafokeng Platinum, and Sibanye-Stillwater, among others.
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RationalStat has segmented the global platinum-group metals based on type, application, and region.

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Key Questions Answered in the Platinum-Group Metals Report:
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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