Spain: Platinum Market 2025

Platinum Market Size in Spain

The Spanish platinum market dropped markedly to $X in 2021, shrinking by -94.6% against the previous year. Overall, consumption recorded a sharp descent. The most prominent rate of growth was recorded in 2016 when the market value increased by 5.9%. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Platinum Production in Spain

In value terms, platinum production shrank sharply to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a dramatic setback. The most prominent rate of growth was recorded in 2013 with an increase of 15% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Platinum Exports

Exports from Spain

In 2021, after four years of decline, there was significant growth in shipments abroad of platinum, when their volume increased by 30% to X tons. Over the period under review, exports saw a buoyant increase. The pace of growth appeared the most rapid in 2013 with an increase of 1,384%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, platinum exports surged to $X in 2021. Overall, exports recorded a resilient increase. The pace of growth appeared the most rapid in 2013 with an increase of 72%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for platinum exports from Spain, accounting for a 56% share of total exports. Moreover, platinum exports to Germany exceeded the volume sent to the second major destination, the UK (X tons), twofold. Belgium (X tons) ranked third in terms of total exports with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany amounted to +11.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+6.2% per year) and Belgium (+8.0% per year).

In value terms, the UK ($X) remains the key foreign market for platinum exports from Spain, comprising 77% of total exports. The second position in the ranking was held by Italy ($X), with a 10% share of total exports. It was followed by Germany, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK amounted to +10.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+33.1% per year) and Germany (+16.2% per year).

Export Prices by Country

In 2021, the average platinum export price amounted to $X per kg, with a decrease of -1.6% against the previous year. In general, the export price continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2014 an increase of 940%. Over the period under review, the average export prices hit record highs at $X per kg in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per kg), while the average price for exports to Argentina ($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 Portugal (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Platinum Imports

Imports into Spain

In 2021, approx. X tons of platinum were imported into Spain; growing by 775% compared with the year before. In general, imports recorded significant growth. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, platinum imports skyrocketed to $X in 2021. Over the period under review, imports, however, continue to indicate a abrupt downturn. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Sweden (X tons) was the main platinum supplier to Spain, accounting for a 91% share of total imports. Moreover, platinum imports from Sweden exceeded the figures recorded by the second-largest supplier, Portugal (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Sweden was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+104.4% per year) and Germany (+7.6% per year).

In value terms, Germany ($X) constituted the largest supplier of platinum to Spain, comprising 5.2% of total imports. The second position in the ranking was taken by Portugal ($X), with a 2.5% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+147.6% per year) and Sweden (0.0% per year).

Import Prices by Country

The average platinum import price stood at $X per kg in 2021, declining by -79.1% against the previous year. In general, the import price recorded a sharp shrinkage. The growth pace was the most rapid in 2017 when the average import price increased by 2,558%. 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 Germany ($X per kg), while the price for Sweden ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+19.9%).

Source: IndexBox Platform

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