개요
세계의 PGM(백금족 금속) 시장은 2023년에 321억 달러에 달하며, 2031년에는 413억 달러에 달할 것으로 예측되며, 예측 기간인 2024-2031년 CAGR은 3.2%로 성장합니다.
배터리 기술의 발전과 전기자동차용 새로운 배터리 화학물질의 개발은 예측 기간 중 세계 시장 성장을 가속하는 중요한 요인입니다. 코발트 백금 나노 소재 합금은 전기자동차 배터리의 성능 효율을 높이기 위해 연구되고 있습니다.
세계 PGM(백금족 금속) 시장의 장기적인 성장 가능성은 주요 생산업체들의 생산량 증가 실패로 인해 막혀 있으며, PGM(백금족 금속) 가격 폭락으로 인해 많은 생산업체들이 수익성이 낮은 광산을 폐쇄하고 있으며, 세계 수요 증가에 대응하기 위해 신규 광산 탐사 및 개발에 대한 대규모 자본 투자를 주저하고 있습니다.
역학
엄격한 배출가스 규제 채택
현재 세계는 탈탄소화를 향해 나아가고 있지만, 그 효과가 가시화되려면 아직 20년은 더 걸릴 것으로 예상됩니다. 한편, 각국 정부는 도로 교통에서 발생하는 오염물질과 탄소 배출을 크게 억제하기 위해 엄격한 배기가스 규제를 제정하고 있습니다.
촉매 컨버터는 자동차의 오염을 방지하는 데 사용되는 주요 장비입니다. 촉매 컨버터는 촉매의 존재 하에서 산화 환원 반응을 통해 자동차의 독성이 높은 배기가스를 무해한 가스로 변환합니다. 촉매는 PGM(백금족 금속) 로듐 또는 팔라듐입니다.
최신 자동차에는 모두 촉매 컨버터가 장착되어 있습니다. 많은 구형 자동차도 새로운 배기가스 규제에 따라 부적격 판정을 받지 않기 위해 촉매 컨버터를 장착하고 있습니다. 엄격한 배기가스 규제 도입이 증가함에 따라 세계 PGM(백금족 금속) 시장의 성장이 촉진될 것으로 예상됩니다.
새로운 암 치료법 개발
지난 10년간 화학요법 내성 암의 발생 빈도가 증가하고 있습니다. 그러나 마찬가지로 면역 요법도 발전해 왔지만, 표준 치료법으로 채택된 것은 일부 특정 암에 국한되어 있습니다. 따라서 과학자들은 현재 새로운 백금 기반 화학요법 약물의 개발에 주목하고 있습니다.
예를 들어 2023년 3월 러시아 남우랄 국립대학 연구진은 기존 백금 기반 화학요법제보다 독성이 낮은 새로운 복합 백금 분자를 합성했습니다. 네다플라틴, 로바플라틴, 헵타플라틴은 일부 국가에서 규제 당국의 승인을 받았지만 전 세계에서 아직 널리 보급되지 않은 백금 기반 화학요법제입니다. 새로운 암 치료법의 개발은 예측 기간 중 PGM(백금족 금속)에 대한 수요를 더욱 증가시킬 것으로 예상됩니다.
가격 변동성 증가
PGM(백금족 금속)(PGM) 가격은 전염병 이후 기간 중 변동성이 증가했습니다. 2021년 1분기에 일시적으로 가격이 회복됐지만, 2022년과 2023년 대부분 기간 중 다시 보합세 또는 하락세로 돌아섰고, PGM 가격은 2023년 한 해 동안 42% 하락했으며, PGM 평균 가격은 2021년 4월의 정점을 밑돌았습니다.
세계백금투자협의회는 세계 공급 부족이 총 수요의 8%에 달하며 2027년까지 지속될 것으로 추정하고 있습니다. 우크라이나 분쟁을 둘러싼 러시아에 대한 제재에도 불구하고 세계 백금족 백금 시장은 심각한 혼란을 겪지 않고 가격 하락이 더욱 가속화되고 있습니다. 많은 생산자들은 전반적인 수익성을 높이기 위해 광산 폐쇄를 적극적으로 고려하고 있습니다. 가격 변동성 증가는 세계 시장의 장기적인 성장 전망을 방해할 것으로 보입니다.
Overview
Global Platinum Group Metals Market reached US$ 32.1 billion in 2023 and is expected to reach US$ 41.3 billion by 2031, growing with a CAGR of 3.2% during the forecast period 2024-2031.
The advancements in battery technology and the development of new battery chemistries for electric vehicles will be a key factor in facilitating global market growth during the forecast period. Cobalt-platinum nanomaterial alloys are being investigated for increasing the performance efficiency of electric vehicle batteries.
The long term growth potential for the global platinum group metals market is hobbled by the failure of major producers to boost production. Given the crash in PGM prices, many producers are actually closing many unprofitable mines and are more hesitant to deploy significant capital investments in exploring and exploiting new mines to support increase in global demand.
Dynamics
Adoption of Stringent Anti-Emission Norms
Although there is currently a global trend towards decarbonization, it is still expected to take another two decades to witness appreciable effects. In the meanwhile, governments have instituted stringent anti-emission regulations to heavily curb pollutants and carbon emissions from road transportation. For instance, the European Union is expected to institute the most stringent Euro 7 emission standards from 2026. From FY 21 onwards, India has implemented the Bharat Stage (BS) 6 emission norms whilst skipping BS5 norms, in an effort to reduce vehicular pollution.
The catalytic converter is the chief equipment used for pollution control in automobiles. A catalytic converter converts the highly toxic exhaust fumes of the vehicle into harmless gases through a redox reaction in the presence of a catalyst. The catalyst is a platinum group metal, either rhodium or palladium.
All modern vehicles are fitted with a catalytic converter. Many older vehicles are also being retrofitted with catalytic converters to prevent them from being rendered unworthy under new emission standards. The growing adoption of stringent emission norms is expected to drive the growth of the global platinum group metals market.
Development of New Cancer Therapies
Cases of chemotherapy treatment-resistant cancers has been growing in frequency over the past decade. However, in a similar note, although immunotherapy has become more advanced it has only been adopted for standard treatment for a few specific cancers. Therefore, scientists are now looking at developing new platinum-based chemotherapy drugs.
For instance, in March 2023, researchers at the South Ural State University in Russia synthesized new complex platinum molecules with less toxicity than traditional platinum-based chemotherapy agents. Nedaplatin, lobaplatin and heptaplatin are some platinum-based chemotherapy agents that have received regulatory approval in some countries but are not yet widely available globally. New cancer therapy development will further boost demand for platinum group metals during the forecast period.
Increased Price Volatility
The price of platinum group metals (PGM) has witnessed increased volatility in the post-pandemic period. Although prices underwent a brief recovery during the Q1 2021, prices have once again either stayed flat or declined for most of 2022 and 2023. Cumulative PGM prices fell by 42% through the entire 2023, with basket PGM average price going below the peak of April 2021.
The World Platinum Investment Council estimates global supply deficit at 8% of total demand and is likely to remain in place till 2027. Despite sanctions on Russia for the ongoing war in Ukraine, there has been less than severe disruption in the global PGM markets, thereby further precipitating price decline. Many producers are actively looking to close lose making mining operations to boost overall profitability. An increase in price volatility will hamper the long term growth prospects of the global market.
The global platinum group metals market is segmented based on type, application and region.
Diverse Range of Applications for Platinum Give it a Major Market Share
One of the major industrial uses of platinum is as a catalyst in automotive catalytic converters, which convert toxic exhaust automotive fumes into harmless gases. Platinum is also used to produce specialized electrodes, laboratory equipment, platinum resistance thermometers and dentistry equipment. Platinum is used in glassmaking for the manipulation of molten glass.
Growing innovations in the field of pharmacy have also opened up new applications for platinum. For example, platinum-containing compounds such as cisplatin, carboplatin and oxaliplatin are used in chemotherapy drugs to treat certain types of cancer. Comparatively, other metals in the group such as ruthenium and palladium have more specialized and niche applications.
North America to Garner the Largest Market Share
North America's major share in the global market is mainly due to its status as a leading scientific and technology hub. Many startups and established companies in various industrial sectors are active in the region. The region is a major producer of automobiles and automotive components. Platinum group metals are used in the production of catalytic converters for automobiles. North America produced 17.3 million vehicles in 2023, according to the international association of motor vehicle manufacturers (OICA).
North America is also a major hub of scientific research, mainly due to the well-developed research ecosystem of U.S. The space industry uses platinum to produce various rocket and satellite components. NASA is U. S's national space agency and the country has a well-developed space research industry. Private space companies such as SpaceX are also increasingly launching human spaceflight missions and satellite missions.
North America also has well-developed biotechnology and pharmaceutical industries. Both these industries utilize platinum group metals to produce various medical equipment and drug formulations. For instance, in November 2022, ImmunoGen, a U.S.-based biotechnology company launched Elahere, a new platinum chemotherapy drugs for ovarian cancer treatment. The continued dominance of U.S. in most emerging high technology research sectors ensures that North America will continue occupying a major share in the global platinum group metals market.
The COVID-19 pandemic created many challenges for the global market. PGM prices fell to multi-month lows in April 2020 and stayed low throughout the year on account of reduced demand from most sectors. Price recovery was only visible starting from February-March 2021, as the most stringent lockdowns were lifted. Most PGM mining operations were disrupted due to the pandemic.
The partial shutdown of commercial mining operations gave rise to illegal and artisanal mining. The flooding of market by illegally mined PGM metals further complicated the global price recovery during the short term. The post-pandemic period has witnessed a sustained rise in demand from various sectors and the market is poised for significant long-term growth.
The Russia-Ukraine war has created major upheaval in the global platinum group metals market, particularly since Russia is one of the largest producers of platinum and palladium. The sanctioning of trade in PGM by Russian entities by EU and U.S. has led Russia to resort to the international grey market for continuing the export of these metals.
The sanctioning of Russia has also created an opening for southern African nations such as Zimbabwe and South Africa for increasing their exports of platinum group metals. Multinational mining companies operating in both these countries are stepping up production at mining sites and are also exploring new potential sites for commercial production.
The major global players in the market include African Rainbow Minerals, Anglo American Platinum, Aquarius Platinum, Eastern Platinum, Glencore, Implats, Johnson Matthey, Norilsk Nickel, Sibanye-Stillwater and Northam Platinum Limited.
The global platinum group metals market report would provide approximately 50 tables, 50 figures and 187 Pages.
Target Audience 2024
LIST NOT EXHAUSTIVE