Belgium: Platinum Market 2025

Platinum Market Size in Belgium

In 2021, the Belgian platinum market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, saw a slight decrease. Platinum consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Platinum Production in Belgium

In value terms, platinum production expanded rapidly to $X in 2021 estimated in export price. In general, production, however, recorded a deep setback. The growth pace was the most rapid in 2018 with an increase of 14%. Platinum production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Platinum Exports

Exports from Belgium

In 2021, shipments abroad of platinum increased by 150% to X tons, rising for the fifth consecutive year after four years of decline. In general, exports, however, recorded a abrupt slump. The growth pace was the most rapid in 2018 when exports increased by 505%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, platinum exports surged to $X in 2021. Over the period under review, exports saw notable growth. The most prominent rate of growth was recorded in 2018 with an increase of 1,991%. The exports peaked in 2021 and are likely to see gradual growth in the near future.

Exports by Country

The UK (X tons), the United States (X tons) and Germany (X tons) were the main destinations of platinum exports from Belgium, together comprising 90% of total exports. Japan and South Korea lagged somewhat behind, together accounting for a further 6.7%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +613.7%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for platinum exports from Belgium, comprising 45% of total exports. The second position in the ranking was held by the United States ($X), with a 22% share of total exports. It was followed by the UK, with a 21% share.

From 2012 to 2021, the average annual growth rate of value to Germany stood at +3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+11.5% per year) and the UK (-0.8% per year).

Export Prices by Country

The average platinum export price stood at $X per kg in 2021, declining by -49.4% against the previous year. Overall, the export price, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2018 an increase of 246%. Over the period under review, the average export prices reached the peak figure at $X per kg in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per kg), while the average price for exports to South Korea ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+127.5%), while the prices for the other major destinations experienced more modest paces of growth.

Platinum Imports

Imports into Belgium

In 2021, purchases abroad of platinum was finally on the rise to reach X tons after two years of decline. Over the period under review, imports saw a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, platinum imports skyrocketed to $X in 2021. In general, imports showed a prominent increase. The pace of growth was the most pronounced in 2018 when imports increased by 371%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, Turkey (X tons) constituted the largest platinum supplier to Belgium, with a 78% share of total imports. Moreover, platinum imports from Turkey exceeded the figures recorded by the second-largest supplier, Germany (X tons), eightfold. The third position in this ranking was held by the UK (X tons), with a 4.8% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey stood at +247.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-7.4% per year) and the UK (+21.7% per year).

In value terms, the largest platinum suppliers to Belgium were Germany ($X), the UK ($X) and South Africa ($X), together comprising 87% of total imports.

South Africa, with a CAGR of +110.8%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average platinum import price amounted to $X per kg, which is down by -69.9% against the previous year. In general, the import price recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2020 when the average import price increased by 61% against the previous year. As a result, import price attained the peak level of $X per kg, and then contracted significantly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Africa ($X per kg), while the price for Turkey (less than $X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+56.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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