Europe: Platinum Market 2024

Platinum Market Size in Europe

The Europe platinum market rose modestly to $X in 2023, growing by X% against the previous year. Over the period under review, consumption, however, showed a pronounced descent. The level of consumption peaked at $X.6B in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Platinum Production in Europe

In value terms, platinum production expanded rapidly to $X in 2023 estimated in export price. Overall, production, however, continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X.1B in 2012; however, from 2013 to 2023, production failed to regain momentum.

Platinum Exports

Exports in Europe

Platinum exports rose remarkably to X tons in 2023, increasing by X% against 2022 figures. Overall, exports, however, showed a noticeable slump. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, platinum exports reduced to $X in 2023. Over the period under review, exports, however, recorded a pronounced contraction. The pace of growth was the most pronounced in 2020 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

The shipments of the four major exporters of platinum, namely Denmark, Bulgaria, the UK and Belgium, represented more than half of total export. It was distantly followed by Italy (X tons), Russia (X tons), Germany (X tons) and the Czech Republic (X tons), together generating a X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Bulgaria (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest platinum supplying countries in Europe were the UK ($X), Germany ($X) and Russia ($X), with a combined X% share of total exports. Italy, Belgium, the Czech Republic, Denmark and Bulgaria lagged somewhat behind, together accounting for a further X%.

Italy, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Europe stood at $X per kg in 2023, with a decrease of X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the export price increased by X%. As a result, the export price reached the peak level of $X per kg, and then fell in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Russia ($X per kg), while Bulgaria ($X per kg) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the other leaders experienced mixed trends in the export price figures.

Platinum Imports

Imports in Europe

Platinum imports shrank to X tons in 2023, which is down by X% against the previous year. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when imports increased by X%. The volume of import peaked at X tons in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.

In value terms, platinum imports dropped to $X in 2023. In general, imports saw a slight downturn. The growth pace was the most rapid in 2016 when imports increased by X%. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

Belgium represented the major importer of platinum in Europe, with the volume of imports resulting at X tons, which was near X% of total imports in 2023. The UK (X tons) took the second position in the ranking, followed by Italy (X tons), Spain (X tons), Germany (X tons), Denmark (X tons) and Switzerland (X tons). All these countries together took near X% share of total imports.

From 2012 to 2023, average annual rates of growth with regard to platinum imports into Belgium stood at X%. At the same time, Italy (X%), Spain (X%) and Denmark (X%) displayed positive paces of growth. Moreover, Italy emerged as the fastest-growing importer imported in Europe, with a CAGR of X% from 2012-2023. By contrast, Germany (X%), the UK (X%) and Switzerland (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Belgium, Italy, Spain and Denmark increased by X, X, X and X percentage points, respectively.

In value terms, the UK ($X) constitutes the largest market for imported platinum in Europe, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with a X% share of total imports. It was followed by Italy, with a X% share.

In the UK, platinum imports shrank by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Germany (X% per year) and Italy (X% per year).

Import Prices by Country

In 2023, the import price in Europe amounted to $X per kg, with a decrease of X% against the previous year. In general, the import price saw a noticeable decline. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. The level of import peaked at $X per kg in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Switzerland ($X per kg), while Spain ($X per kg) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Denmark (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform