Report Update Nov 1, 2024

Ecuador - Platinum - Market Analysis, Forecast, Size, Trends and Insights

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Ecuador: Platinum Market 2024

Platinum Market Size in Ecuador

After five years of decline, the Ecuadorian platinum market increased by 9.9% to $X in 2021. In general, consumption, however, recorded a pronounced decrease. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Platinum Production in Ecuador

In value terms, platinum production expanded significantly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a pronounced decline. The pace of growth was the most pronounced in 2015 with an increase of 46%. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Platinum Exports

Exports from Ecuador

In 2021, overseas shipments of platinum increased by 8.4% to X kg, rising for the second year in a row after two years of decline. Overall, exports showed significant growth. The growth pace was the most rapid in 2017 when exports increased by 3,900% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, platinum exports skyrocketed to $X in 2021. In general, exports saw a significant expansion. The growth pace was the most rapid in 2017 with an increase of 1,333% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in years to come.

Exports by Country

The United States (X kg) was the main destination for platinum exports from Ecuador, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +60.5%.

In value terms, the United States ($X) also remains the key foreign market for platinum exports from Ecuador.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +72.9%.

Export Prices by Country

In 2021, the average platinum export price amounted to $X per kg, picking up by 10% against the previous year. Overall, the export price posted a prominent increase. The pace of growth was the most pronounced in 2018 an increase of 262% against the previous year. Over the period under review, the average export prices reached the maximum at $X per kg in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +7.8% per year.

Platinum Imports

Imports into Ecuador

After two years of growth, supplies from abroad of platinum decreased by -65% to X kg in 2021. Over the period under review, imports, however, posted prominent growth. The pace of growth was the most pronounced in 2020 with an increase of 567% against the previous year. As a result, imports reached the peak of X kg, and then reduced notably in the following year.

In value terms, platinum imports declined rapidly to $X in 2021. Overall, imports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of 1,994% against the previous year. Imports peaked at $X in 2020, and then dropped significantly in the following year.

Imports by Country

In 2021, Italy (X kg) constituted the largest platinum supplier to Ecuador, with a 86% share of total imports. Moreover, platinum imports from Italy exceeded the figures recorded by the second-largest supplier, the United States (X kg), sixfold.

From 2012 to 2021, the average annual growth rate of volume from Italy totaled +43.1%.

In value terms, Italy ($X) constituted the largest supplier of platinum to Ecuador, comprising 78% of total imports. The second position in the ranking was held by the United States ($X), with a 21% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Italy amounted to +52.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-7.0% per year) and Germany (-43.5% per year).

Import Prices by Country

The average platinum import price stood at $X per kg in 2021, jumping by 47% against the previous year. In general, the import price, however, showed a abrupt setback. The import price peaked at $X per kg in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per kg), while the price for Italy ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+16.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for platinum in the world?

South Africa remains the largest platinum consuming country worldwide, comprising approx. 59% of total volume. Moreover, platinum consumption in South Africa exceeded the figures recorded by the second-largest consumer, Russia, sixfold. Zimbabwe ranked third in terms of total consumption with a 6.5% share.

What are the largest producers of platinum in the world?

South Africa remains the largest platinum producing country worldwide, comprising approx. 60% of total volume. Moreover, platinum production in South Africa exceeded the figures recorded by the second-largest producer, Russia, sixfold. The third position in this ranking was occupied by Zimbabwe, with a 6.6% share.

What are the leading suppliers of platinum to Ecuador?

In value terms, Italy constituted the largest supplier of platinum to Ecuador, comprising 79% of total imports. The second position in the ranking was occupied by the United States $995), with a 15% share of total imports.

What are the leading importers of platinum from Ecuador?

In value terms, the United States remains the key foreign market for platinum exports from Ecuador.

What is the average export price for platinum in Ecuador?

In 2016, the average platinum export price amounted to $100,046 per kg, rising by 95% against the previous year.

What is the average import price for platinum in Ecuador?

In 2021, the average platinum import price amounted to $1,124,667 per ton, picking up by 146% against the previous year.

This report provides an in-depth analysis of the platinum market in Ecuador. 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:

Ecuador

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ecuador
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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. 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. 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. 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. 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. 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. 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. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
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
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