Editor’s Note
This analysis projects robust growth for the platinum group metals market, with its value expected to rise from $22.72 billion in 2025 to $37.15 billion by 2035, reflecting a steady CAGR of 5.04%.
According to MRFR analysis, the platinum group metals (PGM) market size was estimated at USD 21.63 billion in 2024. The platinum group metals industry is expected to grow from USD 22.72 billion in 2025 to USD 37.15 billion by 2035, with a compound annual growth rate (CAGR) of 5.04% during the forecast period from 2025 to 2035.
The platinum group metals market is currently undergoing dynamic changes driven by sustainability and technological advancements.
North America remains the largest market for platinum group metals, thanks to its strong automotive industry.
CAGR
5.04%
Market Size and Forecast
2024 Market Size
21.63 (USD Billion)
2035 Market Size
37.15 (USD Billion)
CAGR (2025 – 2035)
5.04%
Anglo American Platinum (ZA), Impala Platinum Holdings Limited (ZA), Sibanye-Stillwater (ZA), Norilsk Nickel (RU), Johnson Matthey (GB), Southern African Platinum Group Metals (ZA), Royal Bafokeng Platinum (ZA), Northam Platinum (ZA), Platinum Group Metals Ltd. (CA)