Palladium Market By Application (Catalytic Converters, Ceramic Capacitors, Jewelry, Hydrogenation and Dehydrogenation Reaction, Others), By End Use Industry (Automotive, Chemical and Petrochemical, Electronics, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global palladium market was valued at $16.3 billion in 2021, and is projected to reach $28.5 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2030.
Palladium is a ductile malleable silvery-white element of the platinum metal group. It occurs in nickel-bearing ores. It is used in catalytic converters of automotive vehicles for reducing emissions. Furthermore, it is used in jewelry, dentistry, watch making, blood sugar test strips, aircraft spark plugs, surgical instruments, and electrical contacts. Moreover, palladium is used to make professional transverse (concert or classical) flutes.
The growth of the global palladium market is driven by increase in demand for consumer electronic devices wherein palladium is widely used for producing multi-layer ceramic (chip) capacitors (MLCC). In addition, rise in global electricity demand has escalated the demand for modern & advanced fuel cells where palladium plays a significant role in power supply applications. According to a report published by the International Energy Agency (IAE), the global electricity demand has grown by 5% in 2021 and is estimated to increase by 4% in 2022 driven by the global economic recovery. This is predicted to foster the growth of the palladium market during the forecast period.
However, mining of palladium requires highly sophisticated equipment. This restrains the manufacturers with low investment potential to enter into the palladium production; thus, hampering the growth of the palladium market.
On the contrary, increase in adoption of palladium among several end-use sectors such as jewelry, dentistry, and others is anticipated to create new opportunities for the expansion of the palladium market in the aerospace sector in the near future.
The leading players operating in the global palladium market include Alfa Aesar, China North Industries Corp (NORINCO), Indian Platinum Pvt. Ltd, Manilal Maganlal & Company, Norilsk Nickel, Northam Platinum Limited, Otto Chemie Pvt. Ltd., Platinum Group Metals Ltd, Sibanye-Stillwater, Southern Palladium Limited, Vale, and Vineeth Precious Catalysts Pvt. Ltd. The global palladium market report provides in-depth competitive analysis as well as profiles of these major players.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the palladium market analysis from 2021 to 2031 to identify the prevailing palladium market opportunities.
Market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
An in-depth analysis of the palladium market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global palladium market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Application
Catalytic Converters
Ceramic Capacitors
Jewelry
Hydrogenation and Dehydrogenation Reaction
Others
By End Use Industry
Automotive
Chemical and Petrochemical
Electronics
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Norilsk Nickel
Anglo American plc
Impala Platinum Holdings Limited
Sibanye-Stillwater
Vale S.A.
Northam Platinum Holdings Limited
First Quantum Minerals Ltd.
Otto Chemie Pvt. Ltd.
Alfa Aesar
Thermo Fisher Scientific
Indian Platinum Pvt.Ltd
Manilal Maganlal & Company
Vineeth Precious Catalysts Pvt. Ltd.
NORINCO
Southern Palladium Limited
Platinum Group Metals Ltd
Platinum Group Metals Ltd.
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