TechNavio recognizes the following companies as the key players in Global Platinum Group Metals Market: “Anglo American Platinum Ltd., JSC MMC Norilsk Nickel, Lonmin plc, Stillwater Mining Co., and Impala Platinum Holdings Ltd.
Commenting on the report, an analyst from TechNavio’s team said: “The increasing vehicle production worldwide, especially that expected to take place in Asia in the coming years, presents a huge opportunity for the usage of PGM in the Automobile sector. The sharp rise in the number of vehicles will lead to the implementation of stringent emission standards for diesel vehicles, particularly in the Commercial Vehicle segment, thereby resulting in the rising consumption of autocatalysts to control vehicular emissions. Also, the electronic and safety systems that improve automobile reliability make use of the physical properties of PGM such as conductivity, stability, and durability. PGM are also used in the Automobile sector in fuel cells, antilock breaking systems, air bag initiators, and spark plugs. Hence, the booming Automobile sector and the increased usage of PGM in automobiles are expected to propel the growth of the market during the forecast period.”
According to the report, one of the major drivers in this market is the increasing usage of PGM in the Automobile sector. PGM play a significant role in making modern cars efficient and safe. Eco-friendly innovations such as fuel cells and catalytic converters would not be possible without PGM.
Further, the report states that one of the major challenges in this market is the increasing demand and supply gap. PGM are used across various sectors in a number of applications; hence, there is a high demand for these metals. However, since they are natural resources, their supply is limited. It is expected that there will be a shortage of platinum and palladium during the forecast period.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-platinum-group-metals-market-2014…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/healthcare-chemicals-food-retail
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TechNavio Announces the Publication of its Research Report – Global Platinum Group Metals Market 2014-2018
