백금족 금속 : 시장 점유율 분석, 산업 동향·통계 데이터, 성장 예측(2026-2031년)

According to Mordor Intelligence, the platinum group metals market size was valued at 668.23 tons in 2025 and is estimated to grow from 699.77 tons in 2026 to reach 881.26 tons by 2031, at a CAGR of 4.72% during the forecast period (2026-2031).

This report is Segmented by Metal Type (Platinum, Palladium, Rhodium, and More), Application (Auto Catalysts, Electrical and Electronics, and More), Source (Primary (Mined), Recycled/Secondary), End-Use Industry (Automotive, Industrial Chemicals, and More), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa). The Market Forecasts are Provided in Terms of Volume (tons).

Global Platinum Group Metals Market Trends and Insights

Surging Demand for Autocatalysts in Emerging-Market ICE Vehicles

India produced 4.2 million passenger vehicles in 2024, and BS-VI Phase 2 rules raised platinum group metal loadings more than 60% per unit to hit stringent nitrogen-oxide caps. Thailand, Indonesia, and Vietnam together assembled about 4 million vehicles in 2024, and flex-fuel cars in Brazil added rhodium-rich catalysts to withstand higher combustion temperatures. Mexico's 3.5 million-unit production for U.S. exports faces Tier 3 Bin 70 rules that prompt over-specification of metal content. The International Council on Clean Transportation foresees 12 million extra light-vehicle sales across emerging markets between 2026 and 2031, with internal-combustion engines still holding more than 70% share in price-sensitive segments.

PEM-Electrolyser Build-Out Across Hydrogen Hubs

Platinum demand for hydrogen climbed from 40 thousand ounces in 2023 to an expected 476 thousand ounces by 2028, with PEM systems contributing most of the rise. The US Inflation Reduction Act earmarked USD 7 billion for regional hubs that will consume 200-250 g of platinum and 15-20 g of iridium per MW by 2027. Europe's Fit for 55 package targets 10 million t of renewable hydrogen by 2030, but iridium scarcity could cap PEM capacity at roughly 45 GW unless alternative electrolysis technologies scale.

Persistent PGM Price Volatility Constraining OEM Contracts

Rhodium plunged 85% from USD 29,800 / oz in 2021 to USD 4,500 / oz in 2024, squeezing tier-one supplier margins by up to 500 bps as fixed contracts matured. Palladium's 40% intrayear swings forced Japanese and German automakers to shorten hedge horizons to six-nine months, shifting inventory risk to refiners. Iridium lacks a deep futures curve, so price discovery depends on thin bilateral trades, deterring long-run capacity investment.

Other drivers and restraints analyzed in the detailed report include:

1. IC Substrate Plating Boom in Advanced Electronics
2. Dual-Metal Upswing from Pd-for-Pt Catalyst Substitution
3. Escalating Energy and Water Intensity of South African Mines

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Iridium's 8.92% CAGR positions it as the fastest-growing element inside the platinum group metals market, even though it accounted for only 3-4 t in 2025. PEM electrolyser makers are slicing coating thickness from 3 µm to 1 µm, which halves iridium intensity while still demanding more tonnage than the 2023 baseline. Palladium's 46.55% share is receding as battery-electric sales rise in China and substitution into platinum accelerates across US and EU gasoline platforms. Rhodium's volatility spurs OEMs to engineer palladium-rhodium blends that trade 5-8% conversion efficiency for cost predictability. Ruthenium's move into sub-5 nm interconnects lifts yearly demand by 10-12 t, while osmium stays a sub-500 kg niche. Combined, these shifts redistribute platinum group metals market share toward a more diversified mix.

Fuel cells are projected to climb at a 28.47% CAGR and could top 10% of the platinum group metals market size by 2031 as Toyota, Hyundai, and Chinese truck makers roll out PEM drivetrains and data-center backup systems. Jewelry, with a share of 28.75% in 2025, stagnates because Chinese and Indian consumers pivot to gold and synthetics when platinum breaches USD 1,000 / oz. Autocatalysts still dominate volume, but their share declines as battery-electric models take up a quarter of new-car sales in major markets by 2026. Electronics gain incremental lift from ruthenium interconnects, while medical and chemical catalysts provide a steady baseline demand.

Complete Report Scope:

• By Metal Type
  • Platinum
  • Palladium
  • Rhodium
  • Iridium
  • Ruthenium
  • Osmium
• By Application
  • Auto Catalysts
  • Electrical and Electronics
  • Fuel Cells
  • Glass, Ceramics and Pigments
  • Jewellery
  • Medical (Dental and Pharma)
  • Chemical Industry
  • Other (Aerospace, Sensors, Water, Forensics)
• By Source
  • Primary (Mined)
  • Recycled/Secondary
• By End-Use Industry
  • Automotive
  • Industrial Chemicals
  • Renewable Energy and Hydrogen
  • Electronics and Semiconductors
  • Jewellery and Luxury Goods
  • Healthcare Devices
  • Glass Manufacturing
  • Petroleum Refining
  • Others
• By Geography
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • ASEAN
    • Rest of Asia-Pacific
  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • United Kingdom
    • France
    • Italy
    • Spain
    • Rest of Europe
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle-East and Africa
    • Saudi Arabia
    • South Africa
    • Rest of Middle-East and Africa

Geography Analysis

Asia Pacific owns 51.60% of the platinum group metals market volume and is set to grow 5.03% annually. India's BS-VI Phase 2 standards, ASEAN's 4 million-vehicle assembly base, and South Korea's semiconductor expansions underpin demand. North America leverages USD 7 billion in hydrogen-hub incentives and produces 10.5 million light vehicles, which hold high catalyst loadings to satisfy Tier 3 standards. Europe's Fit for 55 plan and postponed Euro 7 rules raise both hydrogen and autocatalyst requirements, yet recycling already meets 57% of its needs. South Africa provides more than 70% of the world's platinum, but power, water, and depth constraints cut 2024 output by double digits, while Zimbabwe's incremental 450 k oz cannot fully offset losses. These dynamics keep regional supply-demand balances tight and reinforce the strategic value of recycling in the platinum group metals market.

1. African Rainbow Minerals Limited
2. Anglo American plc
3. BASF SE
4. DOWA Holdings Co., Ltd
5. Glencore
6. Heraeus Group
7. Impala Platinum Holdings Ltd
8. Ivanhoe Mines
9. Jinchuan Group International Resources Co. Ltd
10. Johnson Matthey
11. Norilsk Nickel
12. Northam Platinum Holdings Limited
13. Platinum Group Metals Ltd
14. Sibanye-Stillwater Limited
15. TANAKA PRECIOUS METAL GROUP Co., Ltd.
16. Umicore
17. Vale

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Surging demand for autocatalysts in emerging-market ICE vehicles
  • 4.2.2 PEM-electrolyser build-out across North America and EU hydrogen hubs
  • 4.2.3 IC substrate plating boom in high-end electronics (Ruthenium focus)
  • 4.2.4 Dual-metal upswing from Pd-for-Pt catalyst substitution
  • 4.2.5 Platinum-based ammonia cracking solutions for maritime e-fuels
• 4.3 Market Restraints
  • 4.3.1 Persistent PGM price volatility constraining OEM offtake contracts
  • 4.3.2 Escalating energy and water intensity of deep-level South African mines
  • 4.3.3 Closed-loop recycling growth reducing primary metal demand
• 4.4 Value Chain Analysis
• 4.5 Porter's Five Forces
  • 4.5.1 Bargaining Power of Suppliers
  • 4.5.2 Bargaining Power of Buyers
  • 4.5.3 Threat of New Entrants
  • 4.5.4 Threat of Substitutes
  • 4.5.5 Degree of Competition

5 Market Size and Growth Forecasts (Volume)

• 5.1 By Metal Type
  • 5.1.1 Platinum
  • 5.1.2 Palladium
  • 5.1.3 Rhodium
  • 5.1.4 Iridium
  • 5.1.5 Ruthenium
  • 5.1.6 Osmium
• 5.2 By Application
  • 5.2.1 Auto Catalysts
  • 5.2.2 Electrical and Electronics
  • 5.2.3 Fuel Cells
  • 5.2.4 Glass, Ceramics and Pigments
  • 5.2.5 Jewellery
  • 5.2.6 Medical (Dental and Pharma)
  • 5.2.7 Chemical Industry
  • 5.2.8 Other (Aerospace, Sensors, Water, Forensics)
• 5.3 By Source
  • 5.3.1 Primary (Mined)
  • 5.3.2 Recycled/Secondary
• 5.4 By End-Use Industry
  • 5.4.1 Automotive
  • 5.4.2 Industrial Chemicals
  • 5.4.3 Renewable Energy and Hydrogen
  • 5.4.4 Electronics and Semiconductors
  • 5.4.5 Jewellery and Luxury Goods
  • 5.4.6 Healthcare Devices
  • 5.4.7 Glass Manufacturing
  • 5.4.8 Petroleum Refining
  • 5.4.9 Others
• 5.5 By Geography
  • 5.5.1 Asia-Pacific
    • 5.5.1.1 China
    • 5.5.1.2 India
    • 5.5.1.3 Japan
    • 5.5.1.4 South Korea
    • 5.5.1.5 ASEAN
    • 5.5.1.6 Rest of Asia-Pacific
  • 5.5.2 North America
    • 5.5.2.1 United States
    • 5.5.2.2 Canada
    • 5.5.2.3 Mexico
  • 5.5.3 Europe
    • 5.5.3.1 Germany
    • 5.5.3.2 United Kingdom
    • 5.5.3.3 France
    • 5.5.3.4 Italy
    • 5.5.3.5 Spain
    • 5.5.3.6 Rest of Europe
  • 5.5.4 South America
    • 5.5.4.1 Brazil
    • 5.5.4.2 Argentina
    • 5.5.4.3 Rest of South America
  • 5.5.5 Middle-East and Africa
    • 5.5.5.1 Saudi Arabia
    • 5.5.5.2 South Africa
    • 5.5.5.3 Rest of Middle-East and Africa

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share(%)/Ranking Analysis
• 6.4 Company Profiles (includes Global Overview, Market Overview, Core Segments, Financials, Strategic Information, Products and Services, Recent Developments)
  • 6.4.1 African Rainbow Minerals Limited
  • 6.4.2 Anglo American plc
  • 6.4.3 BASF SE
  • 6.4.4 DOWA Holdings Co., Ltd
  • 6.4.5 Glencore
  • 6.4.6 Heraeus Group
  • 6.4.7 Impala Platinum Holdings Ltd
  • 6.4.8 Ivanhoe Mines
  • 6.4.9 Jinchuan Group International Resources Co. Ltd
  • 6.4.10 Johnson Matthey
  • 6.4.11 Norilsk Nickel
  • 6.4.12 Northam Platinum Holdings Limited
  • 6.4.13 Platinum Group Metals Ltd
  • 6.4.14 Sibanye-Stillwater Limited
  • 6.4.15 TANAKA PRECIOUS METAL GROUP Co., Ltd.
  • 6.4.16 Umicore
  • 6.4.17 Vale

7 Market Opportunities and Future Outlook

• 7.1 White-Space and Unmet-Need Assessment