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India - Platinum - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

India - Platinum - Market Analysis, Forecast, Size, Trends And Insights

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Jul 8, 2023

Platinum Price in India Grows Slightly to $33.5K per kg

India Platinum Import Price in February 2023

In February 2023, the platinum price amounted to $33.5M per ton (CIF, India), increasing by 2.1% against the previous month. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in August 2022 an increase of 51% m-o-m. Over the period under review, average import prices reached the peak figure at $53.2M per ton in September 2022; however, from October 2022 to February 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In February 2023, the country with the highest price was Germany ($66.1M per ton), while the price for the United States ($27.8M per ton) was amongst the lowest.

From February 2022 to February 2023, the most notable rate of growth in terms of prices was attained by Germany (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

COUNTRYImport Price of Platinum in India (USD per ton)
Feb 2022Mar 2022Apr 2022May 2022Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023
Germany33,659,22454,155,66834,562,40128,006,64427,920,96227,560,35929,115,34228,230,45530,468,459N/A33,175,686N/A66,131,698
United Kingdom27,700,53433,798,32436,010,20026,254,63337,716,62830,199,27531,061,73727,442,92530,907,53934,490,83044,730,33540,311,72141,430,082
South Africa32,993,08834,253,60033,118,27630,844,99330,972,83830,453,08428,705,14029,471,95527,783,93230,199,22131,751,34233,406,22434,071,722
Italy35,389,54530,780,55833,436,48232,410,11132,878,72331,530,56530,997,98330,420,84029,313,71331,474,98233,946,28836,599,21533,565,621
United Arab Emirates34,163,88136,040,30333,023,23630,775,19831,890,81129,515,24154,758,06153,612,75351,366,52633,303,36232,874,16935,243,24732,988,760
Hong Kong36,052,58437,187,36732,939,19631,422,36032,158,49929,395,52630,169,69628,675,38928,499,23536,260,77630,947,66535,628,16132,095,354
United States33,233,60631,000,34034,014,45931,735,83330,298,83326,995,80429,581,29624,750,09229,686,17433,161,66438,086,30829,877,09427,808,029
Average31,088,04633,535,21033,686,70129,290,37335,335,03329,908,48245,165,41253,213,41249,877,80035,636,61035,136,44632,812,16133,501,749

India Platinum Imports

In February 2023, purchases abroad of platinum decreased by -16.7% to 189 kg for the first time since November 2022, thus ending a two-month rising trend. Overall, imports recorded a abrupt contraction. The most prominent rate of growth was recorded in September 2022 when imports increased by 1,638% m-o-m. As a result, imports reached the peak of 19 tons. From October 2022 to February 2023, the growth of imports remained at a lower figure.

In value terms, platinum imports fell to $6.3M (IndexBox estimates) in February 2023. In general, imports continue to indicate a abrupt contraction. The growth pace was the most rapid in September 2022 when imports increased by 1,947% against the previous month. As a result, imports reached the peak of $987M. From October 2022 to February 2023, the growth of imports failed to regain momentum.

India Platinum Imports by Country

In February 2023, the United States (75 kg) constituted the largest supplier of platinum to India, with a 40% share of total imports. Moreover, platinum imports from the United States exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (36 kg), twofold. South Africa (33 kg) ranked third in terms of total imports with a 17% share.

From February 2022 to February 2023, the average monthly rate of growth in terms of volume from the United States stood at +2.6%. The remaining supplying countries recorded the following average monthly rates of imports growth: the United Arab Emirates (0.0% per month) and South Africa (-10.4% per month).

In value terms, the largest platinum suppliers to India were the United States ($2.1M), the United Arab Emirates ($1.2M) and South Africa ($1.1M), with a combined 69% share of total imports. The UK, Germany, Hong Kong and Italy lagged somewhat behind, together comprising a further 29%.

In terms of the main suppliers, Hong Kong, with a CAGR of +18.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the platinum market in India. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 24413010 -
  • Prodcom 24413015 -
  • Prodcom 24413020 -
  • Prodcom 24413025 -
  • Prodcom 24413040 -
  • Prodcom 24413045 -
  • Prodcom 24413055 -
  • Prodcom 24413060 -
  • Prodcom 24413065 -
  • Prodcom 24413070 - Platinum catalysts in the form of wire cloth or grill
  • Prodcom 24413030 - Platinum, palladium, rhodium, iridium, osmium and ruthenium, unwrought or in powder form
  • Prodcom 24413050 - Platinum, palladium, rhodium, iridium, osmium and ruthenium, in semi-manufactured forms (excluding unwrought or in powder form)

Country coverage:

  • India

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in India
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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