Platinum Group Metals Market Report by Metal Type (Platinum, Palladium, Rhodium, Iridium, Ruthenium, Osmium), Application (Auto Catalysts, Electrical and Electronics, Fuel Cells, Glass, Ceramics and Pigments, Jewellery, Medical (Dental and Pharmaceuticals), Chemicals, and Others), and Region 2025-2033

Platinum Group Metals Market Report by Metal Type (Platinum, Palladium, Rhodium, Iridium, Ruthenium, Osmium), Application (Auto Catalysts, Electrical and Electronics, Fuel Cells, Glass, Ceramics and Pigments, Jewellery, Medical (Dental and Pharmaceuticals), Chemicals, and Others), and Region 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A5894

Market Overview:

The global platinum group metals market size reached USD 41.6 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 56.6 Billion by 2033, exhibiting a growth rate (CAGR) of 3.31% during 2025-2033.

Report Attribute 
Key Statistics
Base Year
2024
Forecast Years
2025-2033
Historical Years
2019-2024
Market Size in 2024
USD 41.6 Billion
Market Forecast in 2033
USD 56.6 Billion
Market Growth Rate 2025-2033 3.31%


Platinum group metals are six chemically, physically, and anatomically similar elements clustered together in the periodic table. They consist of platinum, rhodium, palladium, iridium, ruthenium and osmium. They are widely used in oxygen sensors, fuel cells, auto catalysts, jewelry making, electronic components, flat-panel computers, medical tools, computer hard drives, razors, spark plugs and glass production. Platinum group metals are known for their purity, high melting points and unique catalytic properties. In addition to this, they exhibit various properties, such as softness, ductile high melting point, resistance to heat, corrosion and oxidation. As compared to other metals, platinum group metals are more soft, easy to shape, unreactive and have a higher melting point.

Platinum Group Metals

Platinum Group Metals Market Trends:

The widespread product adoption in the automotive industry is one of the key factors driving the growth of the market. Platinum group metals are widely used for manufacturing auto catalysts used in the exhaust system of vehicles to control the emission of harmful gasses. In line with this, the increasing product utilization in manufacturing automobile sensors and spark plugs that ignites the fuel and air mixture to produce power are favoring the market growth. Moreover, various technological innovations, such as the introduction of handheld X-ray fluorescence (XRF) instrument, to analyze platinum group metals in catalytic converters, are providing an impetus to the market growth. This, in turn, aids in providing precise, accurate, fast and non-destructive analysis. Additionally, the increasing product demand in the medical industry for platinum-based anticancer medicines and medical devices, such as pacemakers, is positively impacting the market growth. Apart from this, the increasing demand for platinum group metals in the production of many active pharmaceutical ingredients (APIs) and widespread product utilization in the jewelry industry for electroplating are creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global platinum group metals market report, along with forecasts at the global, regional and country level from 2025-2033. Our report has categorized the market based on metal type and application.

Breakup by Metal Type:

Platinum Group Metals by Metal Types

  • Platinum
  • Palladium
  • Rhodium
  • Iridium
  • Ruthenium
  • Osmium
     

Breakup by Application:

  • Auto Catalysts
  • Electrical and Electronics
  • Fuel Cells
  • Glass, Ceramics and Pigments
  • Jewellery
  • Medical (Dental and Pharmaceuticals)
  • Chemicals
  • Others
     

Breakup by Region:

Platinum Group Metals Market By Region

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being African Rainbow Minerals Limited, Anglo American Platinum Limited, Eastern Platinum Limited, Glencore plc, Impala Platinum Holdings Limited, Johnson Matthey, Northam Platinum Limited, Royal Bafokeng Platinum Ltd. and Sibanye-Stillwater.

Report Coverage:

Report Features Details
Base Year of the Analysis 2024
Historical Period 2019-2024
Forecast Period 2025-2033
Units Billion USD
Segment Coverage Metal Type, Application, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered African Rainbow Minerals Limited, Anglo American Platinum Limited, Eastern Platinum Limited, Glencore plc, Impala Platinum Holdings Limited, Johnson Matthey, Northam Platinum Limited, Royal Bafokeng Platinum Ltd. and Sibanye-Stillwater.
Customization Scope 10% Free Customization
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The  platinum group metals market was valued at USD 41.6 Billion in 2024.

We expect the global platinum group metals market to exhibit a CAGR of 3.31% during 2025-2033.

The rising adoption of platinum group metals in the automotive industry for manufacturing auto catalysts used in the exhaust system of vehicles to control harmful gas emissions, is primarily driving the global platinum group metals market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in numerous production activities for platinum group metals. 

Based on the application, the global platinum group metals market can be segmented into auto catalysts, electrical and electronics, fuel cells, glass, ceramics and pigments, jewellery, medical (dental and pharmaceuticals), chemicals, and others. Currently, auto catalysts hold the majority of the global market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.

Some of the major players in the global platinum group metals market include African Rainbow Minerals Limited, Anglo American Platinum Limited, Eastern Platinum Limited, Glencore plc, Impala Platinum Holdings Limited, Johnson Matthey, Northam Platinum Limited, Royal Bafokeng Platinum Ltd., and Sibanye-Stillwater.

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Platinum Group Metals Market Report by Metal Type (Platinum, Palladium, Rhodium, Iridium, Ruthenium, Osmium), Application (Auto Catalysts, Electrical and Electronics, Fuel Cells, Glass, Ceramics and Pigments, Jewellery, Medical (Dental and Pharmaceuticals), Chemicals, and Others), and Region 2025-2033
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