Global Palladium Market: Analysis By Supply Source (Primary Supply, and Secondary Supply), By Application (Automotive, Chemical, Dental & Biomedical, Electrical & Electronics, Investment, Jewelry, Pollution Control, and Other), By Region Size and Trends with Impact of COVID-19 and Forecast up to 2028
Palladium, represented by the symbol Pd and possessing an atomic number of 46, is a distinct silvery-white metal prized for its rarity and diverse applications. Part of the platinum group of metals, it stands out due to its exceptional ability to absorb vast amounts of hydrogen. The primary locus of palladium demand is the auto sector. Moreover, its catalytic properties make it essential in various chemical processes. The palladium demand would be constrained by growth in electric vehicles and ongoing substitution with lower-priced Platinum. And, China is the biggest consumer and importer of palladium. The global palladium market demand in 2022, was valued at 10.04 million oz.
Palladium, a silvery-white metal, has seen a surge in demand in recent years, largely attributed to its pivotal role in the production of catalytic converters for vehicles. Historically, the intrinsic characteristics of palladium, such as its durability, resistance to corrosion, and catalytic capabilities, have made it a metal of choice in the automobile sector. However, supply-side challenges, particularly stemming from geopolitical tensions and restricted production from major mining regions like South Africa and Russia, have added pressure to the market. This imbalance between demand and limited supply has precipitated significant price escalations, drawing enhanced attention to the metal's economic and environmental importance. Recycled supply has gained importance in supplementing primary supply, having contributed almost one-third of the total supply in 2022. The global palladium market supply is likely to reach 11.02 million oz by 2028. The global Palladium market supply is projected to grow at a CAGR of 3.17% during the forecast period of 2023-2028.
Market Segmentation Analysis:
By Supply: The market report has segmented the total supply into two sources namely, primary supply and secondary supply. In 2022, the primary supply is the largest segment, which can be attributed to the direct extraction and introduction of palladium from ore deposits, predominantly from nickel-copper mines in Russia and platinum group metal mines in South Africa. Challenges such as load-shedding in South Africa, flooding in North America, and geopolitical uncertainties due to Russia's activities affected market dynamics.
Further, the secondary supply segment is expected to be the fastest-growing segment, owing to the increased recycling of end-of-life products, especially catalytic converters.. The secondary supply palladium market is further segmented, on the basis of source type, into three segments, namely, Automotive, Electrical & Electronics, and Jewelry, where the automotive is the fastest growing segment during the forecasted period of 2023-2028, as well as the largest segment in 2022.
By Demand: Based on the application, the global palladium market demand can be divided into eight segments namely, Automotive, Chemical, Electrical & Electronics, Dental & Biomedical, Pollution Control, Jewelry, Investment, and others. In 2022, the Automotive Palladium segment emerged as the dominant sector, largely due to its crucial role in reducing vehicular emissions. This surge in demand is a direct result of stringent global emission regulations like China 6a and Euro 7. Palladium, pivotal in catalytic converters of gasoline vehicles, aids in meeting these standards. However, changes loom with shifts to battery electric vehicles and platinum substitutions threatening palladium's dominance. During 2023-2028, the Chemical Palladium Market is poised for significant growth, primarily fueled by China's industrial policies that promote bulk chemical production. With the chemical sector largely unfazed by price dynamics, its demand for palladium has skyrocketed, especially with the resurgence in petrochemicals and electronics.
By Region: The palladium primary supply can be subdivided based on its origin, including regions such as Russia, South Africa, North America, Zimbabwe, and others. The Russian sector dominates the overall market supply, whereas Zimbabwe is projected to witness the most rapid growth during the forecasted period of 2023-2028. Russia possesses the world's largest palladium reserves, primarily within the Norilsk-Talnakh ore deposits. Expansive mining operations and these vast reserves position Russia as the largest primary supplier of palladium globally. According to this report, the global palladium market demand can be divided into five segments namely, China, Europe, North America, Japan, and the Rest of the World. In 2022, China's stronghold on the global Palladium market is evident, propelled by its industrial evolution, technological prowess, and stringent emission norms. This dominance is underscored by its advancements in the electronics and automotive sectors, both mammoth consumers of palladium. As the nexus of global electronics production, countries like Japan, South Korea, and India also amplify this trend. China's strategic foresight in stockpiling, post-COVID economic strategies, and continued commitment to environmental standards forecast a sustained growth trajectory in its palladium demand.
Global Palladium Market Dynamics:
Growth Drivers: In recent years, the automotive sector has been instrumental in propelling the global palladium market's growth. The industry's mounting reliance on palladium-rich catalytic converters to meet stricter emission norms has intensified demand. With environmental regulations tightening worldwide, vehicles are increasingly equipped with these converters, harnessing palladium's unique properties to reduce harmful emissions. As a result, palladium's pivotal role in the automotive world has been solidified, underscoring its importance in addressing global environmental concerns. Further, the market is expected to grow owing to the growth of the consumer electronics industry, surge in solar PV installations, investor interest in palladium, diversified uses, market consolidation, etc. in recent years.
Challenges: The palladium market is grappling with challenges due to the rising preference for platinum in the automotive industry, especially in autocatalytic converters. Additionally, the growth of electric vehicles (EVs) poses threats to palladium's traditional role, even though hybrid vehicles still use platinum group metals (PGMs). With increasing EV adoption, particularly in areas like the US, the shift towards more cost-effective platinum amplifies the challenges for palladium. Hence, innovation and adaptability are essential for Palladium's continued relevance. Additionally, other factors like the geopolitical scenarios & supply constraints, load shedding, etc. are other challenges to the market.
Market Trends: The ascension of palladium in the R&D sector promises transformative applications across various industries. A salient example of its burgeoning potential lies within the metallurgical sphere, where researchers fervently explore new palladium-based alloys. These alloys aim to amalgamate palladium's unique attributes with other metals, intending to create materials tailored for specific industries like aerospace and electronics. These envisioned alloys, characterized by traits such as enhanced strength or exceptional conductivity, are set to reshape industry standards. More trends in the market are believed to grow the palladium market during the forecasted period, which may include the emergence of quantum computing, advancements in Artificial Intelligence (AI) and Machine Learning (ML), advancements in sensors, Nanotechnology applications, etc.
Impact Analysis of COVID-19 and Way Forward:
The COVID-19 pandemic significantly disrupted the global palladium market. Supply chains were interrupted due to lockdowns, and a decrease in demand from the automotive sector, a primary consumer of palladium, led to imbalanced demand-supply dynamics. The semiconductor shortage, essential for vehicle production, further affected palladium consumption. Elevated palladium prices, combined with geopolitical tensions involving major producer Russia, intensified market complexities. These events highlight the need for industries to diversify sourcing, improve adaptability, and build resilient supply chains, emphasizing the significance of risk mitigation for future challenges.
Competitive Landscape and Recent Developments:
The global palladium market is predominantly controlled by a few major players, leading to a consolidated landscape where entry barriers are high due to significant capital and technological requirements. This dominance is further entrenched by their access to prime mining locations, limiting opportunities for newer, smaller entrants. The global palladium market is characterized by its adaptive and strategic nature, marked by a surge in mergers, acquisitions, and innovative collaborations. This consolidation trend, paired with increased product diversification and a dedication to research and development, indicates the market's aim to tackle challenges collaboratively. The market's dynamic approach, from pooling expertise to expanding geographically, positions it for significant growth and evolution in upcoming years.
Further, key players in the Palladium market are:
Palladium, a silvery-white metal, has seen a surge in demand in recent years, largely attributed to its pivotal role in the production of catalytic converters for vehicles. Historically, the intrinsic characteristics of palladium, such as its durability, resistance to corrosion, and catalytic capabilities, have made it a metal of choice in the automobile sector. However, supply-side challenges, particularly stemming from geopolitical tensions and restricted production from major mining regions like South Africa and Russia, have added pressure to the market. This imbalance between demand and limited supply has precipitated significant price escalations, drawing enhanced attention to the metal's economic and environmental importance. Recycled supply has gained importance in supplementing primary supply, having contributed almost one-third of the total supply in 2022. The global palladium market supply is likely to reach 11.02 million oz by 2028. The global Palladium market supply is projected to grow at a CAGR of 3.17% during the forecast period of 2023-2028.
Market Segmentation Analysis:
By Supply: The market report has segmented the total supply into two sources namely, primary supply and secondary supply. In 2022, the primary supply is the largest segment, which can be attributed to the direct extraction and introduction of palladium from ore deposits, predominantly from nickel-copper mines in Russia and platinum group metal mines in South Africa. Challenges such as load-shedding in South Africa, flooding in North America, and geopolitical uncertainties due to Russia's activities affected market dynamics.
Further, the secondary supply segment is expected to be the fastest-growing segment, owing to the increased recycling of end-of-life products, especially catalytic converters.. The secondary supply palladium market is further segmented, on the basis of source type, into three segments, namely, Automotive, Electrical & Electronics, and Jewelry, where the automotive is the fastest growing segment during the forecasted period of 2023-2028, as well as the largest segment in 2022.
By Demand: Based on the application, the global palladium market demand can be divided into eight segments namely, Automotive, Chemical, Electrical & Electronics, Dental & Biomedical, Pollution Control, Jewelry, Investment, and others. In 2022, the Automotive Palladium segment emerged as the dominant sector, largely due to its crucial role in reducing vehicular emissions. This surge in demand is a direct result of stringent global emission regulations like China 6a and Euro 7. Palladium, pivotal in catalytic converters of gasoline vehicles, aids in meeting these standards. However, changes loom with shifts to battery electric vehicles and platinum substitutions threatening palladium's dominance. During 2023-2028, the Chemical Palladium Market is poised for significant growth, primarily fueled by China's industrial policies that promote bulk chemical production. With the chemical sector largely unfazed by price dynamics, its demand for palladium has skyrocketed, especially with the resurgence in petrochemicals and electronics.
By Region: The palladium primary supply can be subdivided based on its origin, including regions such as Russia, South Africa, North America, Zimbabwe, and others. The Russian sector dominates the overall market supply, whereas Zimbabwe is projected to witness the most rapid growth during the forecasted period of 2023-2028. Russia possesses the world's largest palladium reserves, primarily within the Norilsk-Talnakh ore deposits. Expansive mining operations and these vast reserves position Russia as the largest primary supplier of palladium globally. According to this report, the global palladium market demand can be divided into five segments namely, China, Europe, North America, Japan, and the Rest of the World. In 2022, China's stronghold on the global Palladium market is evident, propelled by its industrial evolution, technological prowess, and stringent emission norms. This dominance is underscored by its advancements in the electronics and automotive sectors, both mammoth consumers of palladium. As the nexus of global electronics production, countries like Japan, South Korea, and India also amplify this trend. China's strategic foresight in stockpiling, post-COVID economic strategies, and continued commitment to environmental standards forecast a sustained growth trajectory in its palladium demand.
Global Palladium Market Dynamics:
Growth Drivers: In recent years, the automotive sector has been instrumental in propelling the global palladium market's growth. The industry's mounting reliance on palladium-rich catalytic converters to meet stricter emission norms has intensified demand. With environmental regulations tightening worldwide, vehicles are increasingly equipped with these converters, harnessing palladium's unique properties to reduce harmful emissions. As a result, palladium's pivotal role in the automotive world has been solidified, underscoring its importance in addressing global environmental concerns. Further, the market is expected to grow owing to the growth of the consumer electronics industry, surge in solar PV installations, investor interest in palladium, diversified uses, market consolidation, etc. in recent years.
Challenges: The palladium market is grappling with challenges due to the rising preference for platinum in the automotive industry, especially in autocatalytic converters. Additionally, the growth of electric vehicles (EVs) poses threats to palladium's traditional role, even though hybrid vehicles still use platinum group metals (PGMs). With increasing EV adoption, particularly in areas like the US, the shift towards more cost-effective platinum amplifies the challenges for palladium. Hence, innovation and adaptability are essential for Palladium's continued relevance. Additionally, other factors like the geopolitical scenarios & supply constraints, load shedding, etc. are other challenges to the market.
Market Trends: The ascension of palladium in the R&D sector promises transformative applications across various industries. A salient example of its burgeoning potential lies within the metallurgical sphere, where researchers fervently explore new palladium-based alloys. These alloys aim to amalgamate palladium's unique attributes with other metals, intending to create materials tailored for specific industries like aerospace and electronics. These envisioned alloys, characterized by traits such as enhanced strength or exceptional conductivity, are set to reshape industry standards. More trends in the market are believed to grow the palladium market during the forecasted period, which may include the emergence of quantum computing, advancements in Artificial Intelligence (AI) and Machine Learning (ML), advancements in sensors, Nanotechnology applications, etc.
Impact Analysis of COVID-19 and Way Forward:
The COVID-19 pandemic significantly disrupted the global palladium market. Supply chains were interrupted due to lockdowns, and a decrease in demand from the automotive sector, a primary consumer of palladium, led to imbalanced demand-supply dynamics. The semiconductor shortage, essential for vehicle production, further affected palladium consumption. Elevated palladium prices, combined with geopolitical tensions involving major producer Russia, intensified market complexities. These events highlight the need for industries to diversify sourcing, improve adaptability, and build resilient supply chains, emphasizing the significance of risk mitigation for future challenges.
Competitive Landscape and Recent Developments:
The global palladium market is predominantly controlled by a few major players, leading to a consolidated landscape where entry barriers are high due to significant capital and technological requirements. This dominance is further entrenched by their access to prime mining locations, limiting opportunities for newer, smaller entrants. The global palladium market is characterized by its adaptive and strategic nature, marked by a surge in mergers, acquisitions, and innovative collaborations. This consolidation trend, paired with increased product diversification and a dedication to research and development, indicates the market's aim to tackle challenges collaboratively. The market's dynamic approach, from pooling expertise to expanding geographically, positions it for significant growth and evolution in upcoming years.
Further, key players in the Palladium market are:
- Johnson Matthey PLC
- Nornickel (Norilsk Nickel)
- Umicore
- Glencore PLC
- Vale S.A.
- Anglo-American Platinum (Amplats)
- Impala Platinum Holdings (Implats)
- Sibanye-Stillwater
- Palladium One Mining Inc.
- Platinum Group Metals Ltd.
- Eastern Platinum (Eastplats)
1. EXECUTIVE SUMMARY
2. INTRODUCTION
2.1 Palladium: An Overview
2.1.1 Definition of Palladium
2.1.2 Key Properties of Palladium
2.2 Palladium Segmentation: An Overview
2.2.1 Palladium Segmentation
3. GLOBAL MARKET ANALYSIS
3.1 Global Palladium Supply Market: An Analysis
3.1.1 Global Palladium Supply Market: An Overview
3.1.2 Global Palladium Market by Supply
3.1.3 Global Palladium Market Supply by Source Type (Primary Supply, and Secondary Supply)
3.2 Global Palladium Demand Market: An Analysis
3.2.1 Global Palladium Demand Market: An Overview
3.2.2 Global Palladium Market by Demand
3.2.3 Global Palladium Market Demand by Application (Automotive, Chemical, Dental & Biomedical, Electrical & Electronics, Investment, Jewelry, Pollution Control, and Other)
3.2.4 Global Palladium Market Demand by Region (China, Europe, North America, Japan, and Rest of World)
3.3 Global Palladium Market Supply: Source Type Analysis
3.3.1 Global Palladium Market Supply by Source Type: An Overview
3.3.2 Global Palladium Market by Primary Supply
3.3.3 Global Palladium Market Primary Supply by Region (Russia, South Africa, North America, Zimbabwe, and Other)
3.3.4 Global Palladium Market by Secondary Supply
3.3.5 Global Palladium Market Secondary Supply by Source Type (Automotive, Electrical & Electronics, and Jewelry)
3.3.6 Global Automotive Palladium Market by Secondary Supply
3.3.7 Global Electrical & Electronics Palladium Market by Secondary Supply
3.3.8 Global Jewelry Palladium Market by Secondary Supply
3.4 Global Palladium Market Demand: Application Analysis
3.4.1 Global Palladium Market Demand by Application: An Overview
3.4.2 Global Automotive Palladium Market by Demand
3.4.3 Global Chemical Palladium Market by Demand
3.4.4 Global Electrical & Electronics Palladium Market by Demand
3.4.5 Global Dental & Biomedical Palladium Market by Demand
3.4.6 Global Pollution Control Palladium Market by Demand
3.4.7 Global Jewelry Palladium Market by Demand
3.4.8 Global Investment Palladium Market by Demand
3.4.9 Global Other Application Palladium Market by Demand
4. REGIONAL MARKET SUPPLY ANALYSIS
4.1 Russia Palladium Market Primary Supply: An Analysis
4.1.1 Russia Palladium Market Primary Supply: An Overview
4.1.2 Russia Palladium Market by Primary Supply
4.2 South Africa Palladium Market Primary Supply: An Analysis
4.2.1 South Africa Palladium Market Primary Supply: An Overview
4.2.2 South Africa Palladium Market by Primary Supply
4.3 North America Palladium Market Primary Supply: An Analysis
4.3.1 North America Palladium Market Primary Supply: An Overview
4.3.2 North America Palladium Market by Primary Supply
4.4 Zimbabwe Palladium Market Primary Supply: An Analysis
4.4.1 Zimbabwe Palladium Market Primary Supply: An Overview
4.4.2 Zimbabwe Palladium Market by Primary Supply
4.5 Other Palladium Market Primary Supply: An Analysis
4.5.1 Other Palladium Market Primary Supply: An Overview
4.5.2 Other Palladium Market by Primary Supply
5. REGIONAL MARKET DEMAND ANALYSIS
5.1 China Palladium Market Demand: An Analysis
5.1.1 China Palladium Market Demand: An Overview
5.1.2 China Palladium Market by Demand
5.1.3 China Palladium Market Demand by Application (Automotive, Chemical, Electrical & Electronics, Pollution Control, Investment, Jewelry, and other)
5.2 Europe Palladium Market Demand: An Analysis
5.2.1 Europe Palladium Market Demand: An Overview
5.2.2 Europe Palladium Market by Demand
5.2.3 Europe Palladium Market Demand by Application (Automotive, Chemical, Electrical & Electronics, Dental & Biomedical, Pollution Control, Jewelry, Investment, and other)
5.3 North America Palladium Market Demand: An Analysis
5.3.1 North America Palladium Market Demand: An Overview
5.3.2 North America Palladium Market by Demand
5.3.3 North America Palladium Market Demand by Application (Automotive, Chemical, Electrical & Electronics, Dental & Biomedical, Pollution Control, Jewelry, Investment, and other)
5.4 Japan Palladium Market Demand: An Analysis
5.4.1 Japan Palladium Market Demand: An Overview
5.4.2 Japan Palladium Market by Demand
5.4.3 Japan Palladium Market Demand by Application (Automotive, Chemical, Electrical & Electronics, Dental & Biomedical, Pollution Control, Jewelry, Investment, and other)
5.5 Rest of the World Palladium Market Demand: An Analysis
5.5.1 Rest of the World Palladium Market Demand: An Overview
5.5.2 Rest of the World Palladium Market by Demand
6. IMPACT OF COVID-19
6.1 Impact of COVID-19 on Global Palladium Market
6.2 Post-COVID-19 Impact on Global Palladium Market
7. MARKET DYNAMICS
7.1 Growth Driver
7.1.1 Increased Demand from the Automotive Sector
7.1.2 Growth of Consumer Electronics Industry
7.1.3 Surge in Solar PV Installations
7.1.4 Falling Price
7.1.5 Diversified Uses
7.1.6 Market Consolidation
7.2 Challenges
7.2.1 Platinum for Palladium Substitution
7.2.2 Electrification of Light Duty Vehicles
7.2.3 Geopolitical Tensions & Supply Constraints
7.2.4 Load Shedding
7.3 Market Trends
7.3.1 Advancements in Artificial Intelligence (AI) and Machine Learning (ML)
7.3.2 Advancement of Sensors
7.3.3 Nano-technological Applications
7.3.4 Emergence of Quantum Computing
7.3.5 Rise of Research & Development in Palladium
8. COMPETITIVE LANDSCAPE
8.1 Global Palladium Market: Competitive Landscape
8.2 Global Palladium Players by Market Share
8.3 Global Palladium Market Players: Price Comparison
9. COMPANY PROFILES
9.1 Johnson Matthey PLC
9.1.1 Business Overview
9.1.2 Revenue by Business
9.1.3 Business Strategy
9.2 Nornickel (Norilsk Nickel)
9.2.1 Business Overview
9.2.2 Operating Segments
9.2.3 Business Strategy
9.3 Umicore
9.3.1 Business Overview
9.3.2 Operating Segments
9.3.3 Business Strategy
9.4 Glencore PLC
9.4.1 Business Overview
9.4.2 Operating Segments
9.4.3 Business Strategy
9.5 Vale S.A.
9.5.1 Business Overview
9.5.2 Revenue by Business Area
9.5.3 Business Strategy
9.6 Anglo-American Platinum (Amplats)
9.6.1 Business Overview
9.6.2 Revenue by Metal
9.6.3 Business Strategy
9.7 Impala Platinum Holdings (Implats)
9.7.1 Business Overview
9.7.2 Operating Segments
9.7.3 Business Strategy
9.8 Sibanye-Stillwater
9.8.1 Business Overview
9.8.2 Operating Segments
9.8.3 Business Strategy
9.9 Palladium One Mining Inc.
9.9.1 Business Overview
9.9.2 Business Strategy
9.10 Platinum Group Metals Ltd.
9.10.1 Business Overview
9.10.2 Business Strategy
9.11 Eastern Platinum (Eastplats)
9.11.1 Business Overview
2. INTRODUCTION
2.1 Palladium: An Overview
2.1.1 Definition of Palladium
2.1.2 Key Properties of Palladium
2.2 Palladium Segmentation: An Overview
2.2.1 Palladium Segmentation
3. GLOBAL MARKET ANALYSIS
3.1 Global Palladium Supply Market: An Analysis
3.1.1 Global Palladium Supply Market: An Overview
3.1.2 Global Palladium Market by Supply
3.1.3 Global Palladium Market Supply by Source Type (Primary Supply, and Secondary Supply)
3.2 Global Palladium Demand Market: An Analysis
3.2.1 Global Palladium Demand Market: An Overview
3.2.2 Global Palladium Market by Demand
3.2.3 Global Palladium Market Demand by Application (Automotive, Chemical, Dental & Biomedical, Electrical & Electronics, Investment, Jewelry, Pollution Control, and Other)
3.2.4 Global Palladium Market Demand by Region (China, Europe, North America, Japan, and Rest of World)
3.3 Global Palladium Market Supply: Source Type Analysis
3.3.1 Global Palladium Market Supply by Source Type: An Overview
3.3.2 Global Palladium Market by Primary Supply
3.3.3 Global Palladium Market Primary Supply by Region (Russia, South Africa, North America, Zimbabwe, and Other)
3.3.4 Global Palladium Market by Secondary Supply
3.3.5 Global Palladium Market Secondary Supply by Source Type (Automotive, Electrical & Electronics, and Jewelry)
3.3.6 Global Automotive Palladium Market by Secondary Supply
3.3.7 Global Electrical & Electronics Palladium Market by Secondary Supply
3.3.8 Global Jewelry Palladium Market by Secondary Supply
3.4 Global Palladium Market Demand: Application Analysis
3.4.1 Global Palladium Market Demand by Application: An Overview
3.4.2 Global Automotive Palladium Market by Demand
3.4.3 Global Chemical Palladium Market by Demand
3.4.4 Global Electrical & Electronics Palladium Market by Demand
3.4.5 Global Dental & Biomedical Palladium Market by Demand
3.4.6 Global Pollution Control Palladium Market by Demand
3.4.7 Global Jewelry Palladium Market by Demand
3.4.8 Global Investment Palladium Market by Demand
3.4.9 Global Other Application Palladium Market by Demand
4. REGIONAL MARKET SUPPLY ANALYSIS
4.1 Russia Palladium Market Primary Supply: An Analysis
4.1.1 Russia Palladium Market Primary Supply: An Overview
4.1.2 Russia Palladium Market by Primary Supply
4.2 South Africa Palladium Market Primary Supply: An Analysis
4.2.1 South Africa Palladium Market Primary Supply: An Overview
4.2.2 South Africa Palladium Market by Primary Supply
4.3 North America Palladium Market Primary Supply: An Analysis
4.3.1 North America Palladium Market Primary Supply: An Overview
4.3.2 North America Palladium Market by Primary Supply
4.4 Zimbabwe Palladium Market Primary Supply: An Analysis
4.4.1 Zimbabwe Palladium Market Primary Supply: An Overview
4.4.2 Zimbabwe Palladium Market by Primary Supply
4.5 Other Palladium Market Primary Supply: An Analysis
4.5.1 Other Palladium Market Primary Supply: An Overview
4.5.2 Other Palladium Market by Primary Supply
5. REGIONAL MARKET DEMAND ANALYSIS
5.1 China Palladium Market Demand: An Analysis
5.1.1 China Palladium Market Demand: An Overview
5.1.2 China Palladium Market by Demand
5.1.3 China Palladium Market Demand by Application (Automotive, Chemical, Electrical & Electronics, Pollution Control, Investment, Jewelry, and other)
5.2 Europe Palladium Market Demand: An Analysis
5.2.1 Europe Palladium Market Demand: An Overview
5.2.2 Europe Palladium Market by Demand
5.2.3 Europe Palladium Market Demand by Application (Automotive, Chemical, Electrical & Electronics, Dental & Biomedical, Pollution Control, Jewelry, Investment, and other)
5.3 North America Palladium Market Demand: An Analysis
5.3.1 North America Palladium Market Demand: An Overview
5.3.2 North America Palladium Market by Demand
5.3.3 North America Palladium Market Demand by Application (Automotive, Chemical, Electrical & Electronics, Dental & Biomedical, Pollution Control, Jewelry, Investment, and other)
5.4 Japan Palladium Market Demand: An Analysis
5.4.1 Japan Palladium Market Demand: An Overview
5.4.2 Japan Palladium Market by Demand
5.4.3 Japan Palladium Market Demand by Application (Automotive, Chemical, Electrical & Electronics, Dental & Biomedical, Pollution Control, Jewelry, Investment, and other)
5.5 Rest of the World Palladium Market Demand: An Analysis
5.5.1 Rest of the World Palladium Market Demand: An Overview
5.5.2 Rest of the World Palladium Market by Demand
6. IMPACT OF COVID-19
6.1 Impact of COVID-19 on Global Palladium Market
6.2 Post-COVID-19 Impact on Global Palladium Market
7. MARKET DYNAMICS
7.1 Growth Driver
7.1.1 Increased Demand from the Automotive Sector
7.1.2 Growth of Consumer Electronics Industry
7.1.3 Surge in Solar PV Installations
7.1.4 Falling Price
7.1.5 Diversified Uses
7.1.6 Market Consolidation
7.2 Challenges
7.2.1 Platinum for Palladium Substitution
7.2.2 Electrification of Light Duty Vehicles
7.2.3 Geopolitical Tensions & Supply Constraints
7.2.4 Load Shedding
7.3 Market Trends
7.3.1 Advancements in Artificial Intelligence (AI) and Machine Learning (ML)
7.3.2 Advancement of Sensors
7.3.3 Nano-technological Applications
7.3.4 Emergence of Quantum Computing
7.3.5 Rise of Research & Development in Palladium
8. COMPETITIVE LANDSCAPE
8.1 Global Palladium Market: Competitive Landscape
8.2 Global Palladium Players by Market Share
8.3 Global Palladium Market Players: Price Comparison
9. COMPANY PROFILES
9.1 Johnson Matthey PLC
9.1.1 Business Overview
9.1.2 Revenue by Business
9.1.3 Business Strategy
9.2 Nornickel (Norilsk Nickel)
9.2.1 Business Overview
9.2.2 Operating Segments
9.2.3 Business Strategy
9.3 Umicore
9.3.1 Business Overview
9.3.2 Operating Segments
9.3.3 Business Strategy
9.4 Glencore PLC
9.4.1 Business Overview
9.4.2 Operating Segments
9.4.3 Business Strategy
9.5 Vale S.A.
9.5.1 Business Overview
9.5.2 Revenue by Business Area
9.5.3 Business Strategy
9.6 Anglo-American Platinum (Amplats)
9.6.1 Business Overview
9.6.2 Revenue by Metal
9.6.3 Business Strategy
9.7 Impala Platinum Holdings (Implats)
9.7.1 Business Overview
9.7.2 Operating Segments
9.7.3 Business Strategy
9.8 Sibanye-Stillwater
9.8.1 Business Overview
9.8.2 Operating Segments
9.8.3 Business Strategy
9.9 Palladium One Mining Inc.
9.9.1 Business Overview
9.9.2 Business Strategy
9.10 Platinum Group Metals Ltd.
9.10.1 Business Overview
9.10.2 Business Strategy
9.11 Eastern Platinum (Eastplats)
9.11.1 Business Overview
LIST OF FIGURES
Figure 1: Key Properties of Palladium
Figure 2: Palladium Segmentation
Figure 3: Global Palladium Market by Supply; 2018-2022 (Million oz)
Figure 4: Global Palladium Market by Supply; 2023-2028 (Million oz)
Figure 5: Global Palladium Market Supply by Source Type; 2022 (Percentage, %)
Figure 6: Global Palladium Market by Demand; 2018-2022 (Million oz)
Figure 7: Global Palladium Market by Demand; 2023-2028 (Million oz)
Figure 8: Global Palladium Market Demand by Application; 2022 (Percentage, %)
Figure 9: Global Palladium Market Demand by Region; 2022 (Percentage, %)
Figure 10: Global Palladium Market by Primary Supply, 2018-2022 (Million oz)
Figure 11: Global Palladium Market by Primary Supply, 2023-2028 (Million oz)
Figure 12: Global Palladium Market Primary Supply by Region; 2022 (Percentage, %)
Figure 13: Global Palladium Market by Secondary Supply, 2018-2022 (Million oz)
Figure 14: Global Palladium Market by Secondary Supply, 2023-2028 (Million oz)
Figure 15: Global Secondary Palladium Supply Market by Source Type; 2022 (Percentage, %)
Figure 16: Global Automotive Palladium Market by Secondary Supply, 2018-2022 (Million oz)
Figure 17: Global Automotive Palladium Market by Secondary Supply, 2023-2028 (Million oz)
Figure 18: Global Electrical & Electronics Palladium Market by Secondary Supply, 2018-2022 (Thousand oz)
Figure 19: Global Electrical & Electronics Palladium Market by Secondary Supply, 2023-2028 (Thousand oz)
Figure 20: Global Jewelry Palladium Market by Secondary Supply, 2018-2022 (Thousand oz)
Figure 21: Global Jewelry Secondary Palladium Market by Secondary Supply, 2023-2028 (Thousand oz)
Figure 22: Global Automotive Palladium Market by Demand, 2018-2022 (Million oz)
Figure 23: Global Automotive Palladium Market by Demand, 2023-2028 (Million oz)
Figure 24: Global Chemical Palladium Market by Demand, 2018-2022 (Thousand oz)
Figure 25: Global Chemical Palladium Market by Demand, 2023-2028 (Thousand oz)
Figure 26: Global Electrical & Electronics Palladium Market by Demand, 2018-2022 (Thousand oz)
Figure 27: Global Electrical & Electronics Palladium Market by Demand, 2023-2028 (Thousand oz)
Figure 28: Global Dental & Biomedical Palladium Market by Demand, 2018-2022 (Thousand oz)
Figure 29: Global Dental & Biomedical Palladium Market by Demand, 2023-2028 (Thousand oz)
Figure 30: Global Pollution Control Palladium Market by Demand, 2018-2022 (Thousand oz)
Figure 31: Global Pollution Control Palladium Market by Demand, 2023-2028 (Thousand oz)
Figure 32: Global Jewelry Palladium Market by Demand, 2018-2022 (Thousand oz)
Figure 33: Global Jewelry Palladium Market by Demand, 2023-2028 (Thousand oz)
Figure 34: Global Investment Palladium Market by Demand, 2018-2023 (Thousand oz)
Figure 35: Global Other Application Palladium Market by Demand, 2018-2022 (Thousand oz)
Figure 36: Global Other Application Palladium Market by Demand, 2023-2028 ( Thousand oz)
Figure 37: Russia Palladium Market by Primary Supply, 2018-2022 (Million oz)
Figure 38: Russia Palladium Market by Primary Supply, 2023-2028 (Million oz)
Figure 39: South Africa Palladium Market by Primary Supply, 2018-2022 (Million oz)
Figure 40: South Africa Palladium Market by Primary Supply, 2023-2028 (Million oz)
Figure 41: North America Palladium Market by Primary Supply, 2018-2022 (Million oz)
Figure 42: North America Palladium Market by Primary Supply, 2023-2028 (Thousand oz)
Figure 43: Zimbabwe Palladium Market by Primary Supply, 2018-2022 (Thousand oz)
Figure 44: Zimbabwe Palladium Market by Primary Supply, 2023-2028 (Thousand oz)
Figure 45: Other Palladium Market by Primary Supply, 2018-2022 (Thousand oz)
Figure 46: Other Palladium Market by Primary Supply, 2023-2028 (Thousand oz)
Figure 47: China Palladium Market by Demand; 2018-2023 (Million oz)
Figure 48: China Palladium Market Demand by Application; 2018 & 2023 (Percentage, %)
Figure 49: Europe Palladium Market by Demand; 2018-2023 (Million oz)
Figure 50: Europe Palladium Market Demand by Application; 2018 & 2023 (Percentage, %)
Figure 51: North America Palladium Market by Demand; 2018-2023 (Million oz)
Figure 52: North America Palladium Market Demand by Application; 2018 & 2023 (Percentage, %)
Figure 53: Japan Palladium Market by Demand; 2018-2023 (Million oz)
Figure 54: Japan Palladium Market Demand by Application; 2018 & 2023 (Percentage, %)
Figure 55: Rest of the World Palladium Market by Demand; 2018-2023 (Million oz)
Figure 56: Global Motor Vehicle Production by Volume; 2017-2022 (Million)
Figure 57: Global Consumer Electronics Market Revenue; 2018-2028 (US$ Trillion)
Figure 58: Global Solar PV Installation; 2018-2022 (GWp)
Figure 59: Global Average Price Forecasts for Palladium; 2018-2027 (US$/oz)
Figure 60: Global Estimates for Palladium Demand Lost To 1: 1 Platinum For Palladium Substitution In Light Duty Autocatalysts; 2022-2025 (Thousand oz)
Figure 61: Global Share of BEV Light Vehicles of Total Sales; 2021-2030 (Percentage, %)
Figure 62: Global Artificial Intelligence (AI) Market; 2021-2030 (US$ Billion)
Figure 63: Global IoT Sensor Market Size; 2022-2027 (US$ Billion)
Figure 64: Global Palladium Players by Market Share; 2022 (Percentage,%)
Figure 65: Johnson Matthey PLC Revenue by Business; 2022 (Percentage,%)
Figure 66: Norilsk Nickel Revenue by Segment; 2022 (Percentage, %)
Figure 67: Umicore Turnover by Segment; 2022 (Percentage, %)
Figure 68: Glencore PLC Revenue by Segment; 2022 (Percentage, %)
Figure 69: Vale S.A. Revenue by Business Area; 2022 (Percentage, %)
Figure 70: Anglo-American Platinum Revenue by Metal; 2022 (Percentage, %)
Figure 71: Impala Platinum Holdings (Implats) Revenue by Operating Segment; 2023 (Percentage, %)
Figure 72: Sibanye-Stillwater Revenue by Segment; 2022 (Percentage, %)
Table 1: Global Palladium Market Players: Price Comparison
Figure 1: Key Properties of Palladium
Figure 2: Palladium Segmentation
Figure 3: Global Palladium Market by Supply; 2018-2022 (Million oz)
Figure 4: Global Palladium Market by Supply; 2023-2028 (Million oz)
Figure 5: Global Palladium Market Supply by Source Type; 2022 (Percentage, %)
Figure 6: Global Palladium Market by Demand; 2018-2022 (Million oz)
Figure 7: Global Palladium Market by Demand; 2023-2028 (Million oz)
Figure 8: Global Palladium Market Demand by Application; 2022 (Percentage, %)
Figure 9: Global Palladium Market Demand by Region; 2022 (Percentage, %)
Figure 10: Global Palladium Market by Primary Supply, 2018-2022 (Million oz)
Figure 11: Global Palladium Market by Primary Supply, 2023-2028 (Million oz)
Figure 12: Global Palladium Market Primary Supply by Region; 2022 (Percentage, %)
Figure 13: Global Palladium Market by Secondary Supply, 2018-2022 (Million oz)
Figure 14: Global Palladium Market by Secondary Supply, 2023-2028 (Million oz)
Figure 15: Global Secondary Palladium Supply Market by Source Type; 2022 (Percentage, %)
Figure 16: Global Automotive Palladium Market by Secondary Supply, 2018-2022 (Million oz)
Figure 17: Global Automotive Palladium Market by Secondary Supply, 2023-2028 (Million oz)
Figure 18: Global Electrical & Electronics Palladium Market by Secondary Supply, 2018-2022 (Thousand oz)
Figure 19: Global Electrical & Electronics Palladium Market by Secondary Supply, 2023-2028 (Thousand oz)
Figure 20: Global Jewelry Palladium Market by Secondary Supply, 2018-2022 (Thousand oz)
Figure 21: Global Jewelry Secondary Palladium Market by Secondary Supply, 2023-2028 (Thousand oz)
Figure 22: Global Automotive Palladium Market by Demand, 2018-2022 (Million oz)
Figure 23: Global Automotive Palladium Market by Demand, 2023-2028 (Million oz)
Figure 24: Global Chemical Palladium Market by Demand, 2018-2022 (Thousand oz)
Figure 25: Global Chemical Palladium Market by Demand, 2023-2028 (Thousand oz)
Figure 26: Global Electrical & Electronics Palladium Market by Demand, 2018-2022 (Thousand oz)
Figure 27: Global Electrical & Electronics Palladium Market by Demand, 2023-2028 (Thousand oz)
Figure 28: Global Dental & Biomedical Palladium Market by Demand, 2018-2022 (Thousand oz)
Figure 29: Global Dental & Biomedical Palladium Market by Demand, 2023-2028 (Thousand oz)
Figure 30: Global Pollution Control Palladium Market by Demand, 2018-2022 (Thousand oz)
Figure 31: Global Pollution Control Palladium Market by Demand, 2023-2028 (Thousand oz)
Figure 32: Global Jewelry Palladium Market by Demand, 2018-2022 (Thousand oz)
Figure 33: Global Jewelry Palladium Market by Demand, 2023-2028 (Thousand oz)
Figure 34: Global Investment Palladium Market by Demand, 2018-2023 (Thousand oz)
Figure 35: Global Other Application Palladium Market by Demand, 2018-2022 (Thousand oz)
Figure 36: Global Other Application Palladium Market by Demand, 2023-2028 ( Thousand oz)
Figure 37: Russia Palladium Market by Primary Supply, 2018-2022 (Million oz)
Figure 38: Russia Palladium Market by Primary Supply, 2023-2028 (Million oz)
Figure 39: South Africa Palladium Market by Primary Supply, 2018-2022 (Million oz)
Figure 40: South Africa Palladium Market by Primary Supply, 2023-2028 (Million oz)
Figure 41: North America Palladium Market by Primary Supply, 2018-2022 (Million oz)
Figure 42: North America Palladium Market by Primary Supply, 2023-2028 (Thousand oz)
Figure 43: Zimbabwe Palladium Market by Primary Supply, 2018-2022 (Thousand oz)
Figure 44: Zimbabwe Palladium Market by Primary Supply, 2023-2028 (Thousand oz)
Figure 45: Other Palladium Market by Primary Supply, 2018-2022 (Thousand oz)
Figure 46: Other Palladium Market by Primary Supply, 2023-2028 (Thousand oz)
Figure 47: China Palladium Market by Demand; 2018-2023 (Million oz)
Figure 48: China Palladium Market Demand by Application; 2018 & 2023 (Percentage, %)
Figure 49: Europe Palladium Market by Demand; 2018-2023 (Million oz)
Figure 50: Europe Palladium Market Demand by Application; 2018 & 2023 (Percentage, %)
Figure 51: North America Palladium Market by Demand; 2018-2023 (Million oz)
Figure 52: North America Palladium Market Demand by Application; 2018 & 2023 (Percentage, %)
Figure 53: Japan Palladium Market by Demand; 2018-2023 (Million oz)
Figure 54: Japan Palladium Market Demand by Application; 2018 & 2023 (Percentage, %)
Figure 55: Rest of the World Palladium Market by Demand; 2018-2023 (Million oz)
Figure 56: Global Motor Vehicle Production by Volume; 2017-2022 (Million)
Figure 57: Global Consumer Electronics Market Revenue; 2018-2028 (US$ Trillion)
Figure 58: Global Solar PV Installation; 2018-2022 (GWp)
Figure 59: Global Average Price Forecasts for Palladium; 2018-2027 (US$/oz)
Figure 60: Global Estimates for Palladium Demand Lost To 1: 1 Platinum For Palladium Substitution In Light Duty Autocatalysts; 2022-2025 (Thousand oz)
Figure 61: Global Share of BEV Light Vehicles of Total Sales; 2021-2030 (Percentage, %)
Figure 62: Global Artificial Intelligence (AI) Market; 2021-2030 (US$ Billion)
Figure 63: Global IoT Sensor Market Size; 2022-2027 (US$ Billion)
Figure 64: Global Palladium Players by Market Share; 2022 (Percentage,%)
Figure 65: Johnson Matthey PLC Revenue by Business; 2022 (Percentage,%)
Figure 66: Norilsk Nickel Revenue by Segment; 2022 (Percentage, %)
Figure 67: Umicore Turnover by Segment; 2022 (Percentage, %)
Figure 68: Glencore PLC Revenue by Segment; 2022 (Percentage, %)
Figure 69: Vale S.A. Revenue by Business Area; 2022 (Percentage, %)
Figure 70: Anglo-American Platinum Revenue by Metal; 2022 (Percentage, %)
Figure 71: Impala Platinum Holdings (Implats) Revenue by Operating Segment; 2023 (Percentage, %)
Figure 72: Sibanye-Stillwater Revenue by Segment; 2022 (Percentage, %)
Table 1: Global Palladium Market Players: Price Comparison
