Japan: Platinum Market 2025

Platinum Market Size in Japan

In 2021, the Japanese platinum market increased by 11% to $X for the first time since 2013, thus ending a seven-year declining trend. Over the period under review, consumption, however, saw a abrupt decrease. Platinum consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Platinum Production in Japan

In value terms, platinum production rose rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a deep setback. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Platinum Exports

Exports from Japan

In 2021, overseas shipments of platinum decreased by -17.9% to X tons for the first time since 2016, thus ending a four-year rising trend. The total export volume increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when exports increased by 18% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020, and then reduced notably in the following year.

In value terms, platinum exports surged to $X in 2021. Overall, exports recorded a slight contraction. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Hong Kong SAR (X tons), Singapore (X tons) and China (X tons) were the main destinations of platinum exports from Japan, with a combined 56% share of total exports. These countries were followed by Switzerland, Malaysia, the United States, Taiwan (Chinese) and Thailand, which together accounted for a further 37%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +19.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for platinum exported from Japan were Hong Kong SAR ($X), Switzerland ($X) and Singapore ($X), with a combined 56% share of total exports. China, the United States, Malaysia, Taiwan (Chinese) and Thailand lagged somewhat behind, together accounting for a further 34%.

The United States, with a CAGR of +25.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average platinum export price amounted to $X per kg, picking up by 67% against the previous year. Overall, the export price, however, showed a pronounced descent. Over the period under review, the average export prices hit record highs at $X per kg in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per kg), while the average price for exports to Malaysia ($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 the United States (+5.4%), while the prices for the other major destinations experienced a decline.

Platinum Imports

Imports into Japan

Platinum imports into Japan amounted to X tons in 2021, with an increase of 4.1% compared with 2020 figures. Over the period under review, imports, however, continue to indicate a noticeable setback. The pace of growth appeared the most rapid in 2015 when imports increased by 44%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, platinum imports soared to $X in 2021. Overall, imports, however, saw a abrupt slump. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, South Africa (X tons) constituted the largest platinum supplier to Japan, with a 72% share of total imports. Moreover, platinum imports from South Africa exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), ninefold. The third position in this ranking was taken by Germany (X tons), with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Africa amounted to -3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+22.5% per year) and Germany (+7.0% per year).

In value terms, South Africa ($X) constituted the largest supplier of platinum to Japan, comprising 71% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 7.1% share of total imports. It was followed by Germany, with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from South Africa amounted to -7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+25.1% per year) and Germany (+1.1% per year).

Import Prices by Country

In 2021, the average platinum import price amounted to $X per kg, jumping by 24% against the previous year. In general, the import price, however, continues to indicate a pronounced descent. The import price peaked at $X per kg in 2012; however, from 2013 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 UK ($X per kg), while the price for Germany ($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 Korea (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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