Palladium Market: Global Industry Analysis and Forecast to 2015 to 2021
Palladium Market Segmented By Platinum Group Metals such as osmium, iridium, ruthenium, rhodium, and platinum majorly consumed in the automotive industry as catalytic converters, manufacturing of electronics and jewelry, as well as chemical and dental applications.
Palladium is a lustrous silvery-white rare metal used in a diverse range of applications. The metal with other elements such as osmium, iridium, ruthenium, rhodium, and platinum are referred to as Platinum Group Metals (PGM). Palladium is majorly consumed in the automotive industry as catalytic converters, manufacturing of electronics and jewelry, as well as chemical and dental applications. Palladium is sourced from two major sources, viz., mine production and recycling.
The global market for palladium is likely to experience significant growth with declining demand for metals and increasing demand for recycling metals, leading to palladium demand outstripping the supply. In addition, changing prospects of investments in palladium have also contributed to the growth of the market. Several new palladium exchange-traded funds by companies such as Absa Capital in South Africa are expected to create a significant boost for the palladium market.
Growing demand for palladium in catalytic converters in the automotive industry in vehicles exhausts are one of the major growth factors driving the palladium market. Demand for the metal from other sectors such as jewelry and industrial are also anticipated to contribute to the growth of the market. However, rising prices of palladium owing to supply issues in South Africa and declining state stockpiles in Russia are expected to hamper the growth of the market.
North America was the largest consumer for palladium, followed by China owing to the presence of the vast automotive industry in the region. Future market growth is expected to be from Asia Pacific with the growing industrial activities in emerging economies such as India. These factors are expected to provide new opportunities for the growth of the market.
Aquarius Platinum, Stillwater Mining, Lonmin, First Quantum Minerals, GlencoreXstrata, Lundin Mining, and North American Palladium Ltd. are some of the major manufacturers of palladium dominating the market.
Find Out More about the Report Coverage
Key geographies evaluated in this report
- North America
- France, Germany, Italy, Spain, and the UK
- Eastern Europe
- Latin America
Customize this Report
Explore Intelligence Tailored to Your Business Goals.
Key features of this report
- Drivers, restraints, and challenges shaping the Palladium market dynamics
- Latest innovations and key events in the industry
- Analysis of business strategies of the top players
- Palladium market estimates and forecasts(2015 -2021)
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.