Research Report on China's Platinum Import 2023-2032

Research Report on China's Platinum Import 2023-2032

Platinum is a versatile precious metal used in a variety of applications such as automotive catalysts, jewelry, pharmaceuticals and chemicals. The demand for platinum is highest in the field of automotive catalysts, and the rapid development of the Chinese automotive industry in the last decade or so has contributed to the growth of platinum consumption in China. According to CRI's analysis, China needs to import a considerable amount of platinum every year as its platinum reserves are very low.

In 2021, China's platinum imports reached 85.44 tons, up 45.21% year-on-year, with an import value of US$3.116 billion, up 83.86% year-on-year. From January to October 2022, China imported 62.13 tons of platinum, down 10.15% year-on-year, with an import value of US$1.958 billion, down 23.91% year-on-year.

In 2018-2022, the average price of platinum imports in China shows an overall change in fluctuating growth. According to CRI analysis, from 2018-2020, the average price of China's platinum imports is relatively stable and less volatile, generally remaining in the price range of US$28-30 per gram. In 2021, the average price of China's platinum imports rises to US$36.46 per gram, up 26.62% year-on-year. From January to October 2022, the average price of China's platinum imports is US$31.51 per gram, down 15.32% year-on-year. a year-on-year decrease of 15.32%.

In 2021, China imported platinum from a total of 18 countries and regions. CRI analysis shows that South Africa, the Russian Federation, Japan, Switzerland and Germany are China's main sources of platinum imports by volume. In 2021, China imported 56.81 tons of platinum from South Africa, accounting for 66.49% of total platinum imports that year and the value of imports was US$2.047 billion, accounting for 65.72% of total imports.

China's platinum resources are low in reserves and poor in grade, so the country relies heavily on imports for its platinum needs. With the development of China's automotive, jewelry and other platinum downstream industries, CRI expects that China will still need to import large amounts of platinum each year from 2023-2032.

Topics covered:

• China's Platinum Import Status and Major Sources in 2018-2022 
• What is the Impact of COVID-19 on China's Platinum Import?
• Which Companies are the Major Players in China's Platinum Import Market and What are their Competitive Benchmarks?
• Key Drivers and Market Opportunities in China's Platinum Import   
• What are the Key Drivers, Challenges, and Opportunities for China's Platinum Import during 2023-2032?
• What is the Expected Revenue of China's Platinum Import during 2023-2032?
• What are the Strategies Adopted by the Key Players in the Market to Increase Their Market Share in the Industry?
• What are the Competitive Advantages of the Major Players in China's Platinum Import Market?
• Which Segment of China's Platinum Import is Expected to Dominate the Market in 2032?
• What are the Major Adverse Factors Facing China's Platinum Import?