Global Precious Metals Market for Automotive Applications to Reach $79.82 Billion by 2031

The study forecasts the market to grow at a CAGR of 7.0% between 2022 and 2031

FREMONT, Calif., August 11, 2022 /PRNewswire/ — BIS Research, the world’s leading deep technology business intelligence provider, has released its latest research titled Precious Metals Market for Automotive Applications – A Global and Regional Analysis.

According to this study, the market size (in terms of revenue) of the global Precious Metals for Automotive Applications market was $40.85 billion in 2021 and should reach $79.82 billion by 2031.

The following factors are responsible for increasing the demand for precious metals for automotive applications:

  • Growing demand for precious metals in catalytic converters
  • Increasing use of platinum group metals (PGMs) in the manufacture of electric vehicles
  • Increased environmental regulations to reduce toxic emissions from vehicles

The detailed study is a compilation of 135 market data tables and 15 figures spread over 234 pages.

Check out the detailed table of contents here
https://bisresearch.com/requestsample?id=1345&type=toc

Existing competitive landscape

The companies that are profiled have been selected based on primary research inputs collected from a network of industry experts and analyze company coverage, product portfolio and market penetration.

Companies using silver metals led the market with 81% of market volume in 2021. Players using other metals including platinum accounted for around 3.4%, palladium and rhodium accounted for around 13%, gold about 2% and other precious metals. metals represented less than 1% of total demand in 2021 in terms of volume.

This trend of companies using silver metals to lead the market is expected to continue during the forecast period 2022-2031.

Business Type 1 (by metal type): Palladium Metal

  • Johnson Matthey Plc
  • Umicore
  • Impala Platinum Holdings Limited
  • Sibnaye-Stillwater
  • Northam Platinum Limited
  • Royal Bafokeng Platinum Ltd.
  • Norilsk Nickel

Business Type 2 (by Metal Type): Rhodium Plated

  • Impala Platinum Holdings Limited
  • Johnson Matthey Plc
  • Umicore
  • Sibnaye-Stillwater
  • Northam Platinum Limited
  • Royal Bafokeng Platinum Ltd.
  • Norilsk Nickel

Business Type 3 (by metal type): Platinum Metal

  • TANAKA HOLDINGS Co., Ltd.
  • Johnson Matthey Plc
  • Heraeus Group
  • Umicore
  • Anglo American Platinum Limited
  • Impala Platinum Holdings Limited
  • Sibnaye-Stillwater
  • Northam Platinum Limited
  • Norilsk Nickel

Business type 4 (by type of metal): Gold and silver metals

  • Sibnaye-Stillwater
  • First Majestic Silver Corp.
  • Sino-Platinum
  • Hecla Mining Company
  • Newmont Company
  • Fresnillo Plc

Company type 5 (by type of metal): other metals (iridium and ruthenium)

  • TANAKA HOLDINGS Co., Ltd.
  • Heraeus Group
  • Impala Platinum Holdings Limited
  • Sibnaye-Stillwater
  • Norilsk Nickel

Companies that are not part of the aforementioned pool have been well represented in the various sections of the report (where applicable).

Market analyst’s perspective

According Prasad Gaderesearch analyst, BIS Research“Precious metals play an important role in the production of three-way catalytic converters, which purify exhaust gases. Precious metals are widely used in many automotive applications such as motors, switches, reflective films and mirrors , fuel cells, batteries, and other vehicle electrical components.Additionally, an increase in automotive manufacturing is expected to drive the market growth over the forecast period.

Inquire before buying
https://bisresearch.com/contact us

Global developments in the precious metals market for automotive applications

  • In September 2018in Nankeen, China, Heraeus Precious Metals inaugurated the most complete precious metals factory in the world. The new plant aims to significantly increase the company’s ability to refine and recycle precious metals and chemicals, particularly platinum group metals (PGMs).
  • In 2019, Tanaka Holdings Co. Ltd. announced the creation of a new subsidiary, Tanaka Kikinzoku (India), in Bombay. The new division intends to strengthen the distribution networks of precious metal products in India and the Middle East and Africa. By 2024, the company expects to achieve annual sales of approximately $26 million.

Why should you buy the report?

Some Key Reasons to Buy Precious Metals for Automotive Applications Market Report:

  • In-depth competitive benchmarking analysis of 20 key players to provide a comprehensive view of the Precious Metals for Automotive Applications market landscape
  • Market segregation based on metal type, component and end use
  • Investment landscape including product adoption scenario, financing and patent analysis

Request a FREE sample of this report here
https://bisresearch.com/requestsample?id=1345&type=download

Market studies linked to BIS research:

Global lithium-ion battery metal market

About BIS Research:

BIS Research is a global B2B market intelligence and advisory firm that focuses on deep technologies and related emerging trends that are likely to disrupt market dynamics in the near future. We publish over 200 market intelligence studies annually that focus on multiple deep technology verticals.

Our strategic market analysis emphasizes market estimates, technology analysis, high growth emerging applications, deeply segmented country-level granular market data, and other significant market parameters helpful in making strategic decision making for senior management.

BIS Research offers group studies as well as custom studies and expert consultations to companies, providing them with specific and actionable insights into new technology markets, business models and the competitive landscape.

Contact:

Bhavya Banga
E-mail: [email protected]
+1-510-404-8135
BIS Research Inc.
39111 PASEO PADRE PKWY STE 313,
FREMONT CA 94538-1686
Visit our blog @ https://bisresearch.com/news
Get expert advice @ https://community.insightmonk.com
Join us on LinkedIn @ https://www.linkedin.com/company/bis-research
Join us on [email protected] https://twitter.com/BISResearch

Logo: https://mma.prnewswire.com/media/495163/BIS_Research_Logo.jpg

SOURCE BIS Research



Source link

Comments are closed.