Technavio has announced the top five leading vendors in their recentglobal platinum group metals marketreport until 2021. This research report also lists six other prominent vendors that are expected to impact the market during the forecast period.
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Technavio has published a new report on the global platinum group metals market from 2017-2021. (Graphic: Business Wire)
The research study by Technavio on the global platinum group metals market for 2017-2021 provides a detailed industry analysis based on the metal (palladium, platinum, and ruthenium), application (autocatalyst, chemical manufacturing, electricals and electronics, and jewelry), and geography (APAC, North America, Europe, and ROW).
"The global platinum group metals market is projected to grow to 27,090 thousand ounces by 2021, at a CAGR of more than 3% over the forecast period. The increasing demand for platinum and palladium jewelry is one of the key driving factors for the growth of the marketsays Mahitha Mallishetty, a lead analyst at Technavio for metals and minerals research.
Competitive vendor landscape
The global PGM market is highly consolidated with the presence of a few large vendors, leading to intense market rivalry. All the key vendors have core mining and operational sites in South Africa. Vendors worldwide are looking to maintain the profit margins despite the rising labor and exploration costs. The high demand for these products from the automobile segment is expected to sustain the market growth over the forecast period.
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Top five vendors in the global platinum group metals market
Anglo American Platinum
Anglo American Platinum is engaged in exploring, processing, refining, and marketing of platinum metals. The company mainly serves the jewelry, fuel cells, dental, and electronics industries. The company's products include copper, platinum, diamonds, coal, iron ore and manganese, and nickel.
Impala Platinum is involved in the mining, refining, and marketing of various PGMs, primarily platinum, palladium, rhodium, and associated base metals. The group has operations in the two most significant PGM deposits in the world, namely the Bushveld Complex in South Africa and the Great Dyke in Zimbabwe.
JSC MMC Norilsk Nickel
JSC MMC Norilsk Nickel is the world's leading producer of nickel and palladium, and one of the largest global producers of platinum and copper. The group also produces a variety of by-products such as cobalt, rhodium, silver, gold, iridium, and ruthenium.
Lonmin is the third largest primary producer of platinum in the world. The company operates through PGM operations, evaluation, and exploration segments. The company runs a very vertically integrated operational structure from mine to market.
Stillwater Mining is the only producer of palladium and platinum in the US. The company is engaged in the development, extraction, processing, smelting, refining, and marketing of palladium, platinum, and associated metals from a geological formation in southern Montana known as the J-M Reef.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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