Africa: Platinum Market 2025

Platinum Market Size in Africa

After two years of decline, the African platinum market increased by 0.5% to $X in 2021. Over the period under review, consumption, however, recorded a slight decrease. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Platinum Production in Africa

In value terms, platinum production shrank to $X in 2021 estimated in export price. In general, production, however, continues to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of 39%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Platinum Exports

Exports in Africa

In 2021, after two years of decline, there was significant growth in overseas shipments of platinum, when their volume increased by 35% to X tons. In general, exports, however, recorded a pronounced descent. The pace of growth appeared the most rapid in 2016 with an increase of 48% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, platinum exports soared to $X in 2021. Over the period under review, exports, however, saw a mild decline. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

South Africa dominates exports structure, resulting at X tons, which was near 96% of total exports in 2021. The following exporters - Zimbabwe (X tons) and Egypt (X tons) - each recorded a 3.5% share of total exports.

Exports from South Africa decreased at an average annual rate of -2.9% from 2012 to 2021. At the same time, Egypt (+42.4%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing exporter exported in Africa, with a CAGR of +42.4% from 2012-2021. By contrast, Zimbabwe (-1.1%) illustrated a downward trend over the same period. Egypt (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while South Africa saw its share reduced by -1.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest platinum supplier in Africa, comprising 96% of total exports. The second position in the ranking was taken by Zimbabwe ($X), with a 3.1% share of total exports.

In South Africa, platinum exports declined by an average annual rate of -1.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Zimbabwe (+1.2% per year) and Egypt (+49.1% per year).

Export Prices by Country

The export price in Africa stood at $X per kg in 2021, surging by 23% against the previous year. Export price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, platinum export price increased by +35.6% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 43% against the previous year. Over the period under review, the export prices attained the peak figure at $X per kg in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Zimbabwe ($X per kg), while Egypt ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+4.7%), while the other leaders experienced more modest paces of growth.

Platinum Imports

Imports in Africa

In 2021, purchases abroad of platinum decreased by -50.5% to X tons, falling for the second consecutive year after three years of growth. Overall, imports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2017 with an increase of 170%. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, platinum imports fell significantly to $X in 2021. In general, imports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of 77% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, South Africa (X kg) represented the largest importer of platinum, committing 38% of total imports. It was distantly followed by Egypt (X kg), Democratic Republic of the Congo (X kg), Ghana (X kg) and Tunisia (X kg), together comprising a 50% share of total imports. The following importers - Nigeria (X kg) and Cameroon (X kg) - together made up 5.3% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cameroon (with a CAGR of +53.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest platinum importing markets in Africa were South Africa ($X), Egypt ($X) and Tunisia ($X), with a combined 98% share of total imports.

Among the main importing countries, Egypt, with a CAGR of +45.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Africa amounted to $X per kg, rising by 42% against the previous year. In general, the import price enjoyed a pronounced increase. The most prominent rate of growth was recorded in 2015 an increase of 45%. Over the period under review, import prices attained the peak figure in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Egypt ($X per kg), while Democratic Republic of the Congo ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+14.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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