Global Palladium Market to Reach $11.1 Billion by 2030
The global market for Palladium estimated at US$8.6 Billion in the year 2023, is expected to reach US$11.1 Billion by 2030, growing at a CAGR of 3.7% over the analysis period 2023-2030. Automobile End-Use, one of the segments analyzed in the report, is expected to record a 4.2% CAGR and reach US$5.7 Billion by the end of the analysis period. Growth in the Pharmaceutical End-Use segment is estimated at 3.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.3 Billion, While China is Forecast to Grow at 6.4% CAGR
The Palladium market in the U.S. is estimated at US$2.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.3 Billion by the year 2030 trailing a CAGR of 6.4% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.8% and 4.3% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 1.7% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.5 Billion by the year 2030.
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