Central Asia: Platinum Market 2025

Platinum Market Size in Central Asia

In 2021, the Central Asian platinum market increased by 3.4% to $X for the first time since 2012, thus ending a eight-year declining trend. In general, consumption, however, recorded a abrupt decrease. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Platinum Production in Central Asia

In value terms, platinum production expanded slightly to $X in 2021 estimated in export price. Overall, production, however, saw a abrupt slump. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Platinum Exports

Exports in Central Asia

In 2021, shipments abroad of platinum increased by 63% to X kg, rising for the second consecutive year after three years of decline. In general, exports showed a strong expansion. The pace of growth was the most pronounced in 2013 with an increase of 573% against the previous year. The volume of export peaked at X kg in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, platinum exports skyrocketed to $X in 2021. Overall, exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2013 with an increase of 619%. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Uzbekistan was the key exporter of platinum in Central Asia, with the volume of exports accounting for X kg, which was approx. 88% of total exports in 2021. It was distantly followed by Kazakhstan (X kg), creating a 12% share of total exports.

Uzbekistan was also the fastest-growing in terms of the platinum exports, with a CAGR of +21.5% from 2012 to 2021. At the same time, Kazakhstan (+8.0%) displayed positive paces of growth. From 2012 to 2021, the share of Uzbekistan increased by +16 percentage points.

In value terms, Uzbekistan ($X) remains the largest platinum supplier in Central Asia, comprising 89% of total exports. The second position in the ranking was held by Kazakhstan ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Uzbekistan amounted to +21.9%.

Export Prices by Country

In 2021, the export price in Central Asia amounted to $X per kg, shrinking by -20.5% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 52% against the previous year. As a result, the export price reached the peak level of $X per kg, and then dropped sharply in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Uzbekistan ($X per kg), while Kazakhstan totaled $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+0.4%).

Platinum Imports

Imports in Central Asia

In 2021, approx. X tons of platinum were imported in Central Asia; growing by 77% on the previous year. Over the period under review, imports recorded a significant expansion. The growth pace was the most rapid in 2017 with an increase of 423%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, platinum imports surged to $X in 2021. Overall, imports saw significant growth. The pace of growth appeared the most rapid in 2017 with an increase of 621% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

In 2021, Uzbekistan (X kg) was the key importer of platinum, generating 68% of total imports. It was distantly followed by Kazakhstan (X kg), constituting a 30% share of total imports. Turkmenistan (X kg) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to platinum imports into Uzbekistan stood at -4.0%. At the same time, Kazakhstan (+26.0%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +26.0% from 2012-2021. By contrast, Turkmenistan (-17.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Uzbekistan and Kazakhstan increased by +68 and +9.2 percentage points, respectively.

In value terms, Uzbekistan ($X) constitutes the largest market for imported platinum in Central Asia, comprising 86% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with a 12% share of total imports.

In Uzbekistan, platinum imports increased at an average annual rate of +12.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (+23.1% per year) and Turkmenistan (-20.1% per year).

Import Prices by Country

The import price in Central Asia stood at $X per kg in 2021, increasing by 7.6% against the previous year. In general, the import price posted a perceptible increase. The most prominent rate of growth was recorded in 2020 when the import price increased by 40%. Over the period under review, import prices attained the maximum in 2021 and is likely to see gradual 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 Uzbekistan ($X per kg), while Kazakhstan ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+17.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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