The global palladium market revenue was around US$ 17.24 billion in 2022 and is estimated to reach US$ 28.63 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.8% during the forecast period from 2023 to 2031.
Palladium is a ductile malleable white-silvery element of the platinum metal group. It appears in nickel-bearing ores. It is utilized in catalytic converters of automotive vehicles for lowering emissions. Furthermore, it is utilized in dentistry, jewellery, blood sugar test strips, watchmaking, aircraft spark plugs, surgical instruments, and electrical contacts.
Market Driving Factors
The surge in demand for consumer electronics increases the popularity of palladium-based multi-layer ceramic (chip) capacitors (MLCC) utilized to store energy in electronic devices such as mobile telephones, broadcasting equipment, electronic lighting, computers, and high voltage circuits. For instance, according to the National Investment Promotion and Facilitation Agency, India’s export of electronic production is set to increase from US$10 billion in 2021 to US$ 300 billion by 2026. This is projected to improve the demand for palladium in the increasing electronics sector and drive market growth.
Palladium is utilized as the principal metal in jewelry owing to the increase in the cost of gold and platinum. Furthermore, it is utilized in dentistry as an alloy of dental amalgam to boost metallic luster and reduce corrosion. These elements are expected to create lucrative opportunities for market expansion.
Palladium is extracted commercially as a by-product of nickel and then purified further which needs highly sophisticated machines. These factors together have limited manufacturers with less investment potential to enter into the palladium market.
Regional Analysis
The Asia-Pacific dominated the market in terms of the growth rate and is expected to maintain its dominance. This can be mainly attributed to the surge in China's electronic sector which has forced the palladium manufacturers to create more efficient MLCCs utilized in different consumer electronic products. Furthermore, nations such as Taiwan and Japan have a large consumer electronics appliances industry and electronics industry base which in turn has improved the performance of palladium in the region.
Segmentation Insights
Application Insight
The catalytic converter segment dominates the market in terms of revenue. This is because surge in transportation activities which in turn has led the automotive sector in both developing and developed economies to witness substantial growth where palladium is broadly utilized in catalytic converters of trucks, cars, and other vehicles for lowering vehicle emissions. Furthermore, the rising regulatory standards put forward by various government agencies such as the Central Pollution Control Board (CPCB), Environmental Protection Agency (EPA), and others for lessening vehicle emissions may drive the segment demand.
End Use Industry Insight
The automotive segment dominated the market in terms of the rate. This can be attributed to the surge in disposable income and increase in original equipment manufacturers (OEMs) which in turn leads the automotive industry to witness substantial growth where palladium is widely used in catalytic converters of trucks, cars, and other vehicles for emission deduction purposes.
The electronics segment is estimated to dominate the market in terms of the highest growth rate. This is primarily due to the increase in demand for consumer electronics, where palladium is commonly utilized to make multilayer ceramic (chip) capacitors.
Prominent Companies
Segmentation Outline
The global palladium market segmentation focuses on the Application, End Use Industry, and Region.
By Application
By End Use Industry
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL PALLADIUM MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: PALLADIUM MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL PALLADIUM MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL PALLADIUM MARKET, BY APPLICATION
5.1 OVERVIEW
5.2 CATALYTIC CONVERTERS
5.3 CERAMIC CAPACITORS
5.4 JEWELLERY
5.5 HYDROGENATION AND DEHYDROGENATION REACTION
5.6 OTHERS
6 GLOBAL PALLADIUM MARKET, BY END USE INDUSTRY
6.1 OVERVIEW
6.2 AUTOMOTIVE
6.3 CHEMICAL AND PETROCHEMICAL
6.4 ELECTRONICS
6.5 OTHERS
7 GLOBAL PALLADIUM MARKET, BY GEOGRAPHY
7.1 OVERVIEW
7.2 NORTH AMERICA
7.2.1 NORTH AMERICA MARKET SNAPSHOT
7.2.2 U.S.
7.2.3 CANADA
7.2.4 MEXICO
7.3 EUROPE
7.3.1 EUROPE MARKET SNAPSHOT
7.3.2 WESTERN EUROPE
7.3.2.1 THE UK
7.3.2.2 GERMANY
7.3.2.3 FRANCE
7.3.2.4 ITALY
7.3.2.5 SPAIN
7.3.2.6 REST OF WESTERN EUROPE
7.3.3 EASTERN EUROPE
7.3.3.1 POLAND
7.3.3.2 RUSSIA
7.3.3.3 REST OF EASTERN EUROPE
7.4 ASIA PACIFIC
7.4.1 ASIA PACIFIC MARKET SNAPSHOT
7.4.2 CHINA
7.4.3 JAPAN
7.4.4 INDIA
7.4.5 AUSTRALIA & NEW ZEALAND
7.4.6 ASEAN
7.4.7 REST OF ASIA PACIFIC
7.5 MIDDLE EAST & AFRICA
7.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
7.5.2 UAE
7.5.3 SAUDI ARABIA
7.5.4 SOUTH AFRICA
7.5.5 REST OF MEA
7.6 SOUTH AMERICA
7.6.1 SOUTH AMERICA MARKET SNAPSHOT
7.6.2 BRAZIL
7.6.3 ARGENTINA
7.6.4 REST OF SOUTH AMERICA
8 GLOBAL PALLADIUM MARKET COMPETITIVE LANDSCAPE
8.1 OVERVIEW
8.2 COMPANY MARKET RANKING
8.3 KEY DEVELOPMENT STRATEGIES
8.4 COMPETITIVE DASHBOARD
8.5 PRODUCT MAPPING
8.6 TOP PLAYER POSITIONING, 2022
8.7 COMPETITIVE HEATMAP
8.8 TOP WINNING STRATEGIES
9 COMPANY PROFILES
9.1 PLATINUM GROUP METALS LTD
9.1.1 OVERVIEW
9.1.2 FINANCIAL PERFORMANCE
9.1.3 PRODUCT OUTLOOK
9.1.4 KEY DEVELOPMENTS
9.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.2 IMPALA PLATINUM HOLDINGS LIMITED
9.2.1 OVERVIEW
9.2.2 FINANCIAL PERFORMANCE
9.2.3 PRODUCT OUTLOOK
9.2.4 KEY DEVELOPMENTS
9.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.3 NORINCO
9.3.1 OVERVIEW
9.3.2 FINANCIAL PERFORMANCE
9.3.3 PRODUCT OUTLOOK
9.3.4 KEY DEVELOPMENTS
9.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.4 FIRST QUANTUM MINERALS LTD.
9.4.1 OVERVIEW
9.4.2 FINANCIAL PERFORMANCE
9.4.3 PRODUCT OUTLOOK
9.4.4 KEY DEVELOPMENTS
9.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.5 NORTHAM PLATINUM HOLDINGS LIMITED
9.5.1 OVERVIEW
9.5.2 FINANCIAL PERFORMANCE
9.5.3 PRODUCT OUTLOOK
9.5.4 KEY DEVELOPMENTS
9.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.6 OTTO CHEMIE PVT LTD
9.6.1 OVERVIEW
9.6.2 FINANCIAL PERFORMANCE
9.6.3 PRODUCT OUTLOOK
9.6.4 KEY DEVELOPMENTS
9.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.7 SOUTHERN PALLADIUM LIMITED
9.7.1 OVERVIEW
9.7.2 FINANCIAL PERFORMANCE
9.7.3 PRODUCT OUTLOOK
9.7.4 KEY DEVELOPMENTS
9.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.8 SIBANYE-STILLWATER
9.8.1 OVERVIEW
9.8.2 FINANCIAL PERFORMANCE
9.8.3 PRODUCT OUTLOOK
9.8.4 KEY DEVELOPMENTS
9.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.9 THERMO FISHER SCIENTIFIC
9.9.1 OVERVIEW
9.9.2 FINANCIAL PERFORMANCE
9.9.3 PRODUCT OUTLOOK
9.9.4 KEY DEVELOPMENTS
9.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.10 NORILSK NICKEL
9.10.1 OVERVIEW
9.10.2 FINANCIAL PERFORMANCE
9.10.3 PRODUCT OUTLOOK
9.10.4 KEY DEVELOPMENTS
9.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.11 VINEETH PRECIOUS CATALYSTS PVT LTD
9.11.1 OVERVIEW
9.11.2 FINANCIAL PERFORMANCE
9.11.3 PRODUCT OUTLOOK
9.11.4 KEY DEVELOPMENTS
9.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.12 INDIAN PLATINUM PVT LTD
9.12.1 OVERVIEW
9.12.2 FINANCIAL PERFORMANCE
9.12.3 PRODUCT OUTLOOK
9.12.4 KEY DEVELOPMENTS
9.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.13 VALE S.A.
9.13.1 OVERVIEW
9.13.2 FINANCIAL PERFORMANCE
9.13.3 PRODUCT OUTLOOK
9.13.4 KEY DEVELOPMENTS
9.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.14 ANGLO AMERICAN PLC
9.14.1 OVERVIEW
9.14.2 FINANCIAL PERFORMANCE
9.14.3 PRODUCT OUTLOOK
9.14.4 KEY DEVELOPMENTS
9.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.15 ALFA AESAR
9.15.1 OVERVIEW
9.15.2 FINANCIAL PERFORMANCE
9.15.3 PRODUCT OUTLOOK
9.15.4 KEY DEVELOPMENTS
9.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.16 MANILAL MAGANLAL & COMPANY
9.16.1 OVERVIEW
9.16.2 FINANCIAL PERFORMANCE
9.16.3 PRODUCT OUTLOOK
9.16.4 KEY DEVELOPMENTS
9.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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