Eastern Asia: Platinum Market 2024

Platinum Market Size in Eastern Asia

The East Asian platinum market stood at $X.4B in 2022, remaining constant against the previous year. Over the period under review, consumption, however, recorded a perceptible downturn. Over the period under review, the market reached the maximum level at $X.1B in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Platinum Production in Eastern Asia

In value terms, platinum production amounted to $X.6B in 2022 estimated in export price. In general, production, however, saw a noticeable shrinkage. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Platinum Exports

Exports in Eastern Asia

After two years of growth, shipments abroad of platinum decreased by less than X% to X tons in 2022. In general, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, platinum exports contracted to $X in 2022. Total exports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The level of export peaked at $X in 2021, and then fell in the following year.

Exports by Country

In 2022, Hong Kong SAR (X tons) and Japan (X tons) were the main exporters of platinum in Eastern Asia, together committing X% of total exports. It was distantly followed by Taiwan (Chinese) (X tons) and South Korea (X tons), together committing a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Hong Kong SAR (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest platinum supplying countries in Eastern Asia were Hong Kong SAR ($X), Japan ($X) and Taiwan (Chinese) ($X), with a combined X% share of total exports.

Hong Kong SAR, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per kg in 2022, dropping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X%. As a result, the export price reached the peak level of $X per kg, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per kg), while Taiwan (Chinese) ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced a decline in the export price figures.

Platinum Imports

Imports in Eastern Asia

In 2022, after two years of growth, there was significant decline in supplies from abroad of platinum, when their volume decreased by X% to X tons. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X%. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, platinum imports contracted markedly to $X in 2022. In general, imports continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

China represented the major importing country with an import of around X tons, which resulted at X% of total imports. Hong Kong SAR (X tons) ranks second in terms of the total imports with a X% share, followed by Japan (X%). South Korea (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Hong Kong SAR (with a CAGR of X%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, China ($X), Hong Kong SAR ($X) and Japan ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports.

Hong Kong SAR, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per kg, waning by X% against the previous year. In general, the import price saw a noticeable shrinkage. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, import prices reached the maximum at $X per kg in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Japan ($X per kg) and South Korea ($X per kg), while China ($X per kg) and Hong Kong SAR ($X per kg) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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