Italy: Platinum Market 2024

Platinum Market Size in Italy

The Italian platinum market shrank remarkably to $X in 2022, waning by X% against the previous year. Overall, consumption saw a precipitous contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Platinum Production in Italy

In value terms, platinum production skyrocketed to $X in 2022 estimated in export price. In general, production, however, saw significant growth. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Platinum Exports

Exports from Italy

In 2022, overseas shipments of platinum increased by X% to X tons, rising for the third consecutive year after two years of decline. Overall, exports continue to indicate a resilient expansion. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, platinum exports reached $X in 2022. Over the period under review, exports saw a prominent increase. The pace of growth appeared the most rapid in 2016 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Germany (X tons), Switzerland (X tons) and the United States (X tons) were the main destinations of platinum exports from Italy, together accounting for X% of total exports. Poland, the UK and France lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for platinum exported from Italy were Germany ($X), Switzerland ($X) and Poland ($X), together comprising X% of total exports.

In terms of the main countries of destination, Poland, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average platinum export price amounted to $X per kg, falling by X% against the previous year. In general, the export price continues to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2014 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per kg in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Switzerland ($X per kg) and Germany ($X per kg), while the average price for exports to France ($X per kg) and the United States ($X per kg) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Chile (X.6%), while the prices for the other major destinations experienced a decline.

Platinum Imports

Imports into Italy

In 2022, the amount of platinum imported into Italy skyrocketed to X tons, jumping by X% against the previous year. In general, imports saw prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, platinum imports expanded markedly to $X in 2022. Over the period under review, imports enjoyed a strong increase. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of platinum to Italy, with a X% share of total imports. Moreover, platinum imports from the United States exceeded the figures recorded by the second-largest supplier, Switzerland (X tons), threefold. South Africa (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (X% per year) and South Africa (X% per year).

In value terms, the United States ($X), Switzerland ($X) and South Africa ($X) constituted the largest platinum suppliers to Italy, with a combined X% share of total imports. Russia, Germany, Singapore and the UK lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Singapore, with a CAGR of X.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average platinum import price stood at $X per kg in 2022, declining by X% against the previous year. In general, the import price saw a abrupt decline. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per kg in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($X per kg), while the price for the United States ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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