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Palladium Market

Global Palladium Market Size, Share, Forecast: By Application: Catalytic Converters, Ceramic Capacitors, Jewellery, Hydrogenation and Dehydrogenation Reaction, Others; By End Use: Automotive, Chemical and Petrochemical, Electronics, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2023-2028

Global Palladium Market Outlook

The global palladium market size reached approximately USD 18.31 billion in 2022. The market is assessed to grow at a CAGR of 5.7% between 2023 and 2028 to attain a value of around USD 25.42 billion by 2028.

 

Key Trends in the Market

Palladium is a platinum metal that is shiny in nature and silver-white in colour. It is corrosion-resistant, dissolves in aqua regia, forms various salts and compounds, and can absorb hydrogen. It is widely used as a catalyst in different chemical processes such as dehydrogenation and also finds usage in jewellery making and photography.

 

  • The palladium market growth is being supported by increasing investments in precious metals exploration and mining activities by key players and governments. The rising adoption of innovative technologies and processes that can streamline the extraction, mining, and processing of palladium while improving mining efficiency and financial returns is also favouring the market.
  • The rising environmental concerns and the growing focus on decarbonisation are some significant palladium market trends. The precious metal plays an essential role in filtering harmful gases from the exhaust of vehicles, hence stringent emissions regulations by governments aimed at reducing greenhouse gas emissions from the automotive sector have boosted its usage.

Moreover, palladium can be recycled infinitely without losing its characteristics, which is expected to further surge its demand in sustainable applications, such as hydrogen fuel cells, in the coming years.

  • Increasing R&D activities by key players to enhance the applications of palladium in complex processes are likely to fuel the palladium market demand in the coming years. Besides, due to its excellent catalytic activity, palladium is increasingly used to accelerate electrochemical reactions for sustainably and efficiently disinfecting water.

 

Market Analysis

Based on application, the market is segmented into catalytic converters, ceramic capacitors, jewellery, and hydrogenation and dehydrogenation reaction, among others. On the basis of end use, the palladium market segmentation includes automotive, chemical and petrochemical, and electronics, among others. The major regional markets for palladium include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global palladium market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

 

  • Norilsk Nickel 
  • Anglo American plc 
  • Impala Platinum Holdings Limited 
  • Sibanye Stillwater Limited 
  • Northam Platinum Holdings Limited 
  • Thermo Fisher Scientific Inc. 
  • First Quantum Minerals Ltd. 
  • Otto Chemie Pvt. Ltd. 
  • Southern Palladium Limited 
  • Vineeth Precious Catalysts Pvt. Ltd. 
  • Others

 

Market Share by End Use

As per the palladium market analysis, the use of the precious metal in the automotive sector is surging. This sector is witnessing a significant transformation amid the rising focus on sustainability, stringent government regulations to curb air pollution, and the increasing demand for green transportation modes.

 

This is driving the demand for palladium as a catalyst in catalytic converters for the conversion of toxic gases such as nitrogen oxide and carbon monoxide to lower greenhouse gas emissions from gasoline-powered vehicles. The increasing demand for hybrid electric vehicles is also expected to aid the segment’s growth in the forecast period.

 

Market Share by Region

Africa holds a considerable portion of the palladium market share. South Africa and Zimbabwe are some of the largest producers of palladium in the world. Increasing palladium mining activities by key players in these countries are expected to further propel the market development in the region in the coming years.

 

The demand for the product in North America and Europe is expected to significantly surge amidst the growing development of zero-carbon-emitting power plants.  Automotive manufacturers in the regions are also increasingly utilising palladium to enhance the sustainability profiles of vehicles. Moreover, surging research activities to examine the potential of palladium for driving the hydrogen economy, due to its excellent affinity to hydrogen, are likely to further fuel the palladium market development in the forecast period.

 

Competitive Landscape

Anglo American plc is a global mining company that is headquartered in London, the United Kingdom. Its products play an integral role in the contemporary world, and it offers minerals and metals that can drive a cleaner, safer, and sustainable future. The company uses innovative technologies and practices to discover, mine, and process metals and minerals.

 

Norilsk Nickel is a leading metals and mining company, based in Russia. It is one of the largest producers of high-grade nickel, palladium, copper, and platinum. Its business lines include exploring, mining, and processing minerals as well as producing and selling precious and non-ferrous metals.

 

Impala Platinum Holdings Limited is a company that is engaged in the production of platinum group metals. Its operations are located in major PGM-bearing ore bodies such as Zimbabwe’s Canadian Shield and South Africa’s Bushveld Complex. Its products are widely used in different sectors, including medical, electronic, and industrial sectors.

 

Other palladium market players include Sibanye Stillwater Limited, Northam Platinum Holdings Limited, Thermo Fisher Scientific Inc., First Quantum Minerals Ltd., Otto Chemie Pvt. Ltd., Southern Palladium Limited, and Vineeth Precious Catalysts Pvt. Ltd., among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Application
  • End Use
  • Region
Breakup by Application
  • Catalytic Converters
  • Ceramic Capacitors
  • Jewellery
  • Hydrogenation and Dehydrogenation Reaction
  • Others
Breakup by End Use
  • Automotive
  • Chemical and Petrochemical
  • Electronics
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Norilsk Nickel 
  • Anglo American plc 
  • Impala Platinum Holdings Limited 
  • Sibanye Stillwater Limited 
  • Northam Platinum Holdings Limited 
  • Thermo Fisher Scientific Inc. 
  • First Quantum Minerals Ltd. 
  • Otto Chemie Pvt. Ltd. 
  • Southern Palladium Limited 
  • Vineeth Precious Catalysts Pvt. Ltd. 
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description   
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Palladium Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Palladium Historical Market (2018-2022) 
    8.3    Global Palladium Market Forecast (2023-2028)
    8.4    Global Palladium Market by Application
        8.4.1    Catalytic Converters
            8.4.1.1    Historical Trend (2018-2022)
            8.4.1.2    Forecast Trend (2023-2028)
        8.4.2    Ceramic Capacitors
            8.4.2.1    Historical Trend (2018-2022)
            8.4.2.2    Forecast Trend (2023-2028)
        8.4.3    Jewellery
            8.4.3.1    Historical Trend (2018-2022)
            8.4.3.2    Forecast Trend (2023-2028)
        8.4.4    Hydrogenation and Dehydrogenation Reaction
            8.4.4.1    Historical Trend (2018-2022)
            8.4.4.2    Forecast Trend (2023-2028)
        8.4.5    Others
    8.5    Global Palladium Market by End Use
        8.5.1    Automotive
            8.5.1.1    Historical Trend (2018-2022)
            8.5.1.2    Forecast Trend (2023-2028)
        8.5.2    Chemical and Petrochemical
            8.5.2.1    Historical Trend (2018-2022)
            8.5.2.2    Forecast Trend (2023-2028)
        8.5.3    Electronics
            8.5.3.1    Historical Trend (2018-2022)
            8.5.3.2    Forecast Trend (2023-2028)
        8.5.4    Others
    8.6    Global Palladium Market by Region
        8.6.1    North America
            8.6.1.1    Historical Trend (2018-2022)
            8.6.1.2    Forecast Trend (2023-2028)
        8.6.2    Europe
            8.6.2.1    Historical Trend (2018-2022)
            8.6.2.2    Forecast Trend (2023-2028)
        8.6.3    Asia Pacific
            8.6.3.1    Historical Trend (2018-2022)
            8.6.3.2    Forecast Trend (2023-2028)
        8.6.4    Latin America
            8.6.4.1    Historical Trend (2018-2022)
            8.6.4.2    Forecast Trend (2023-2028)
        8.6.5    Middle East and Africa
            8.6.5.1    Historical Trend (2018-2022)
            8.6.5.2    Forecast Trend (2023-2028)
9    North America Palladium Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2022)
        9.1.2    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Historical Trend (2018-2022)
        9.2.2    Forecast Trend (2023-2028)
10    Europe Palladium Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2022)
        10.1.2    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Historical Trend (2018-2022)
        10.2.2    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Historical Trend (2018-2022)
        10.3.2    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Historical Trend (2018-2022)
        10.4.2    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Palladium Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2022)
        11.1.2    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Historical Trend (2018-2022)
        11.2.2    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Historical Trend (2018-2022)
        11.3.2    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2022)
        11.4.2    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Historical Trend (2018-2022)
        11.5.2    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Palladium Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2022)
        12.1.2    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2022)
        12.2.2    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2022)
        12.3.2    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Palladium Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2022)
        13.1.2    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2022)
        13.2.2    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2022)
        13.3.2    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2022)
        13.4.2    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price  
15    Trade Data Analysis (HS Code – 711029)
    15.1    Major Exporting Countries 
        15.1.1    By Value
        15.1.2    By Volume
    15.2    Major Importing Countries 
        15.2.1    By Value
        15.2.2    By Volume
16    Price Analysis
17    Competitive Landscape
    17.1    Market Structure
    17.2    Company Profiles
        17.2.1    Norilsk Nickel 
            17.2.1.1    Company Overview
            17.2.1.2    Product Portfolio
            17.2.1.3    Demographic Reach and Achievements
            17.2.1.4    Certifications
        17.2.2    Anglo American plc 
            17.2.2.1    Company Overview
            17.2.2.2    Product Portfolio
            17.2.2.3    Demographic Reach and Achievements
            17.2.2.4    Certifications
        17.2.3    Impala Platinum Holdings Limited 
            17.2.3.1    Company Overview
            17.2.3.2    Product Portfolio
            17.2.3.3    Demographic Reach and Achievements
            17.2.3.4    Certifications
        17.2.4    Sibanye Stillwater Limited 
            17.2.4.1    Company Overview
            17.2.4.2    Product Portfolio
            17.2.4.3    Demographic Reach and Achievements
            17.2.4.4    Certifications
        17.2.5    Northam Platinum Holdings Limited 
            17.2.5.1    Company Overview
            17.2.5.2    Product Portfolio
            17.2.5.3    Demographic Reach and Achievements
            17.2.5.4    Certifications
        17.2.6    Thermo Fisher Scientific Inc. 
            17.2.6.1    Company Overview
            17.2.6.2    Product Portfolio
            17.2.6.3    Demographic Reach and Achievements
            17.2.6.4    Certifications
        17.2.7    First Quantum Minerals Ltd. 
            17.2.7.1    Company Overview
            17.2.7.2    Product Portfolio
            17.2.7.3    Demographic Reach and Achievements
            17.2.7.4    Certifications
        17.2.8    Otto Chemie Pvt. Ltd. 
            17.2.8.1    Company Overview
            17.2.8.2    Product Portfolio
            17.2.8.3    Demographic Reach and Achievements
            17.2.8.4    Certifications
        17.2.9    Southern Palladium Limited 
            17.2.9.1    Company Overview
            17.2.9.2    Product Portfolio
            17.2.9.3    Demographic Reach and Achievements
            17.2.9.4    Certifications
        17.2.10    Vineeth Precious Catalysts Pvt. Ltd. 
            17.2.10.1    Company Overview
            17.2.10.2    Product Portfolio
            17.2.10.3    Demographic Reach and Achievements
            17.2.10.4    Certifications
        17.2.11    Others
18    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Palladium Market: Key Industry Highlights, 2018 and 2028
2.    Global Palladium Historical Market: Breakup by Application (USD Billion), 2018-2022
3.    Global Palladium Market Forecast: Breakup by Application (USD Billion), 2023-2028
4.    Global Palladium Historical Market: Breakup by End Use (USD Billion), 2018-2022
5.    Global Palladium Market Forecast: Breakup by End Use (USD Billion), 2023-2028
6.    Global Palladium Historical Market: Breakup by Region (USD Billion), 2018-2022
7.    Global Palladium Market Forecast: Breakup by Region (USD Billion), 2023-2028
8.    North America Palladium Historical Market: Breakup by Country (USD Billion), 2018-2022
9.    North America Palladium Market Forecast: Breakup by Country (USD Billion), 2023-2028
10.    Europe Palladium Historical Market: Breakup by Country (USD Billion), 2018-2022
11.    Europe Palladium Market Forecast: Breakup by Country (USD Billion), 2023-2028
12.    Asia Pacific Palladium Historical Market: Breakup by Country (USD Billion), 2018-2022
13.    Asia Pacific Palladium Market Forecast: Breakup by Country (USD Billion), 2023-2028
14.    Latin America Palladium Historical Market: Breakup by Country (USD Billion), 2018-2022
15.    Latin America Palladium Market Forecast: Breakup by Country (USD Billion), 2023-2028
16.    Middle East and Africa Palladium Historical Market: Breakup by Country (USD Billion), 2018-2022
17.    Middle East and Africa Palladium Market Forecast: Breakup by Country (USD Billion), 2023-2028
18.    Major Exporting Countries by Value
19.    Major Importing Countries by Value
20.    Major Exporting Countries by Volume
21.    Major Importing Countries by Volume
22.    Global Palladium Market Structure

Key Questions Answered in the Report

What was the global palladium market value in 2022?

In 2022, the market attained a value of nearly USD 18.31 billion.

What is the growth rate of the palladium market?

The market is assessed to grow at a CAGR of 5.7% between 2023 and 2028.

What is the forecast outlook of the palladium market for 2023-2028?

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 25.42 billion by 2028.

What are the major market drivers?

The increasing investments in precious metals exploration and mining activities and the rising use of palladium in driving decarbonisation are the major drivers of the market.

What are the key trends of the market?

The key trends aiding the market are the rising adoption of innovative technologies and processes to streamline palladium mining and processing and the rising usage of palladium in the automotive sector.

What are the major regional markets of palladium, according to the EMR report?

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the significant end uses of palladium?

The significant end uses of palladium are chemical and petrochemical, automotive, and electronics, among others.

Who are the key players, according to the palladium market report?

The major players in the market are Norilsk Nickel, Anglo American plc, Impala Platinum Holdings Limited, Sibanye Stillwater Limited, Northam Platinum Holdings Limited, Thermo Fisher Scientific Inc., First Quantum Minerals Ltd., Otto Chemie Pvt. Ltd., Southern Palladium Limited, and Vineeth Precious Catalysts Pvt. Ltd., among others.

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