Precious Metals Market for Automotive Applications - A Global and Regional Analysis

Focus on Metal Type, Component, End User, and Region - Analysis and Forecast, 2022-2031

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A quick peek into the report

Market Report Coverage

Precious Metals Market for Automotive Applications
Forecast Period: 2022-2031
CAGR During Forecast Period: 7.0%

Precious Metals Market for Automotive Applications

Base Year

2021

Market Size in 2021

$40,853.4 Million

Forecast Period

2022-2031

Value Projection and Estimation by 2031

$79,820.7 Million

CAGR During Forecast Period

7.0%

Number of Tables

135

Number of Pages

234

Number of Figures

15

 

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts, analyzing company coverage, product portfolio, and market penetration.

The top segment players are expected to lead the precious metals market for automotive applications and are expected to enter the market using silver metals in the long term, which capture around 81% of the market by volume as of 2021. Players utilizing other metals, including platinum, accounted for around 3.4%, palladium and rhodium accounted for around 13%, gold accounted for approximately 2%, and other precious metals accounted for less than 1% of the total demand in 2021 in terms of volume.

Some of the prominent established names in this market are:

•    Heraeus Holding
•    Anglo American Platinum Limited
•    Impala Platinum Holdings Limited
•    Sibnaye-Stillwater
•    Northam Platinum Limited
•    Norilsk Nickel
•    Umicore
•    TANAKA HOLDINGS Co., Ltd.
•    Johnson Matthey
•    Sigmund Cohn Corp.
•    FIRST MAJESTIC
•    SINO-PLATINUM METALS CO. LTD.
•    Hecla Mining Company
•    Fresnillo plc
•    Newmont Corporation
•    Royal Bafokeng Platinum
•    Generation Mining Limited
•    Desktop Metal, Inc.
•    Nexa
•    Freeport-McMoRan

How can this report add value to an organization?

The product segment helps the reader understand the different metal types involved in the production of automotive applications.

Product/Innovation Strategy: The product segment helps the reader understand the different metal types involved in the production of automotive applications, including palladium, platinum, rhodium, gold, silver, and others. Moreover, the study provides the reader with a detailed understanding of the different precious metals markets for automotive applications based on end use (light commercial vehicles, heavy commercial vehicles, passenger cars, and electric vehicles). Precious metals are gaining traction in automotive on the back of their increasing application in combustion chambers. When exhaust gases flow through the system, these metals transform the pollutants from the combustion chamber into lesser hazardous gases.

Growth/Marketing Strategy: The precious metals market for automotive applications has seen major development by key players operating in the market, such as business expansions, partnerships, collaborations, mergers and acquisitions, and joint ventures. The favored strategy for the companies has been business expansions and acquisitions to strengthen their position in the precious metals market for automotive applications. For instance, in March 2020, Sibnaye-Stillwater and Impala Platinum, along with BASF, introduced a unique tri-metal auto catalyst that enables the partial replacement of palladium with platinum. Implementation of the innovative tri-metal catalyst technology is anticipated to minimize catalytic converter costs and substantially alleviate prolonged palladium deficiencies.

Competitive Strategy: Key players in the precious metals market for automotive applications analyzed and profiled in the study involve precious metals manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the precious metals market for automotive applications has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Industry & Technology Overview

The global precious metals market for automotive applications was valued at $40,853.4 million in 2021

Precious Metals Market for Automotive Applications: Industry Overview

The demand for precious metals for automotive applications is anticipated to grow with the increasing demand for catalytic convertors from the automotive industry. Furthermore, increased investment in African countries in the arena of platinum group metals is anticipated to create prospects for the market in the subsequent years. Moreover, increasing utilization of platinum in electric vehicles is another factor fuelling the demand for the precious metals market for automotive applications during the forecast period 2022-2031. However, the high costs of platinum group metals are anticipated to hinder the market growth in the upcoming future.

Market Lifecycle Stage

The precious metals market for automotive applications is still in the growth phase. Increased investment and research and development activities are expected to boost the market for precious metals for automotive applications. Furthermore, due to high demand from the end-use industries and rising public concern, government regulations related to carbon emissions are expected to increase the demand for electric vehicles, thereby bolstering the precious metals market for automotive applications. Moreover, precious metals have the potential to make a significant impact by improving environmental sustainability, and their utilization in the components such as catalytic converters and engine sensors is further expected to spur the demand for precious metals. Precious metals are anticipated to become much more valuable as automobiles get more advanced.

Precious Metals Market for Automotive Applications

Industrial Impact

• With an increased worldwide focus on achieving net-zero carbon emissions, the shift toward sustainable technologies brings significant sales and financing opportunities. This shift was prominently experienced in regions and countries such as North America, Europe, South Africa, and some Asian countries.
• Furthermore, precious metals have a moderate to high impact on automotive applications; however, in the upcoming future, with increased production of automotive applications, the impact is anticipated to increase.

Impact of COVID-19

The COVID-19 pandemic period considerably impacted the production of precious metals as a result of country-wide shutdowns of manufacturing sites, labor shortages, and disruptions in supply and demand chains globally, which distorted the market. The lockdowns imposed by the government significantly reduced raw material productivity due to a shortage of operations in many regions throughout the world. The automotive sector has been in a slowdown for the last couple of years. Due to the closure of production plants, the sector experienced a scarcity of automotive parts. However, the market is anticipated to have recover and is expected to rise gradually over the forecast period.

Market Segmentation:

Segmentation 1: by End User
•    Light Commercial Vehicles
•    Heavy Commercial Vehicles
•    Passenger Cars
•    Electric Vehicles

Among different end users, the passenger car segment is expected to be the largest during the forecast period 2022-2031.

Segmentation 2: by Metal Type
•    Palladium
•    Platinum
•    Rhodium
•    Gold
•    Silver
•    Others

Among different metal types, palladium is anticipated to lead the market during the forecast period 2022-2031. It is a widely utilized precious metal for automobiles, owing to its high durability.

Segmentation 3: by Component
•    Catalytic Converters
•    Engine Control Units
•    Circuit Boards
•    Sensors
•    Switches
•    Windshield Defogger
•    Others

Among different components, catalytic converters are anticipated to lead the market during the forecast period 2022-2031.

Segmentation 4: by Region
•    North America - U.S., Canada, and Mexico
•    Europe - Germany, France, Italy, Spain, and Rest-of-Europe
•    China
•    U.K.
•    Asia-Pacific and Japan - Japan, India, South Korea, and Rest-of-Asia-Pacific 
•    Rest-of-the-World

China is expected to lead the precious metals market for automotive applications throughout the forecast period, owing to the presence of a significant number of precious metals market for automotive applications manufacturers such as Heraeus Holding, Sino-Platinum, and others.

Recent Developments in Precious Metals Market for Automotive Applications

•    In September 2018, in Nanjing, China, Heraeus Precious Metals inaugurated the world's most comprehensive precious metals facility. The new plant aims to significantly boost the company's ability to refine and recycle precious metals and chemical products, particularly platinum group metals (PGMs).
•  In 2019, Tanaka Holdings Co. Ltd. announced the establishment of a new subsidiary, Tanaka Kikinzoku (India), in Mumbai. The new division intends to enhance precious metal product distribution networks in India, the Middle East, and Africa. By 2024, the company expects to achieve annual sales of around $26 million.

Demand - Drivers and Limitations

Following are the demand drivers for the precious metals market for automotive applications:

•    Growing Demand for Precious Metals in Automotive Catalytic Convertors
•    Increasing Utilization of PGMs in Manufacturing Electric Vehicles 
•    Rising Environmental Regulations to Reduce Toxic Vehicle Emissions

The market is expected to face some limitations due to the following challenges:

•    High Cost of Precious Metals
•    PGMs Overuse Causes Human Health Concerns
•    Price Volatility of Precious Metals
•    Russia-Ukraine Conflict to Disrupt Precious Metals Supply Chain

Analyst Thoughts

According to Prasad Gade, Research Analyst, BIS Research, "Precious metals play a significant role in the production of three-way catalytic converters, which purify the exhaust gas. Precious metals are widely used in numerous automotive applications such as engine units, switches, reflective films and mirrors, fuel cells, batteries, and other electrical components of the vehicle. Also, a rise in automotive manufacturing is anticipated to drive market growth over the forecast period.”

Table of Contents

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1.1    Industry Outlook
         1.1.1    Trends: Current and Future
                     1.1.1.1    Rise in Technological Developments
                     1.1.1.2    Recycling of Precious Metals used in the Automotive Industry
         1.1.2    Supply Chain Analysis
         1.1.3    Ecosystem/Ongoing Programs
                     1.1.3.1    Consortiums and Associations
                     1.1.3.2    Regulatory Bodies
                     1.1.3.3    Programs by Research Institutions and Universities
         1.1.4    Impact of COVID-19 on the Precious Metals Market for Automotive Applications
1.2    Business Dynamics
         1.2.1    Business Drivers
                     1.2.1.1    Growing Demand for Precious Metals in Automotive Catalytic Convertors
                     1.2.1.2    Increasing Utilization of PGMs in Manufacturing Electric Vehicles
                     1.2.1.3    Rising Environmental Regulations to Reduce Toxic Vehicle Emissions
         1.2.2    Business Challenges
                     1.2.2.1    High Cost of Precious Metals
                     1.2.2.2    PGMs Overuse Causes Human Health Concerns
                     1.2.2.3    Price Volatility of Precious Metals
                     1.2.2.4    Russia-Ukraine Conflict to Disrupt Precious Metals Supply Chain
         1.2.3    Business Strategies
                     1.2.3.1    Product Developments
                     1.2.3.2    Market Developments
         1.2.4    Corporate Strategies
                     1.2.4.1    Mergers and Acquisitions
                     1.2.4.2    Partnerships and Joint Ventures
         1.2.5    Business Opportunities
                     1.2.5.1    Electrification of Vehicles and Petrol, Diesel Vehicle Optimization
                     1.2.5.2    Increasing Research Activities for Autonomous Vehicles
1.3    Start-Up Landscape
         1.3.1    Key Start-Ups in the Ecosystem

2.1    Global Precious Metals Market for Automotive Applications (Applications and Specifications)
         2.1.1    Global Precious Metals Market for Automotive Applications (by End User)
                     2.1.1.1    Light Commercial Vehicles
                     2.1.1.2    Passenger Cars
                     2.1.1.3    Electric Vehicles
                     2.1.1.4    Heavy Commercial Vehicles
2.2    Demand Analysis of Precious Metals Market for Automotive Applications (by End User), Value and Volume Data
2.3    Global Precious Metals Market for Automotive Applications (Applications and Specifications)
         2.3.1    Global Precious Metals Market for Automotive Applications (by Component)
                     2.3.1.1    Catalytic Converters
                     2.3.1.2    Engine Control Units
                     2.3.1.3    Circuit Boards
                     2.3.1.4    Sensors
                     2.3.1.5    Switches
                     2.3.1.6    Windshield Defogger
                     2.3.1.7    Others
2.4    Demand Analysis of Precious Metals Market for Automotive Applications (by Component), Value and Volume Data

3.1    Global Precious Metals Market for Automotive Applications (Products and Specifications)
         3.1.1    Global Precious Metals Market for Automotive Applications (by Metal Type)
                     3.1.1.1    Palladium
                     3.1.1.2    Platinum
                     3.1.1.3    Gold
                     3.1.1.4    Rhodium
                     3.1.1.5    Silver
                     3.1.1.6    Others
3.2    Demand Analysis of Precious Metals Market for Automotive Applications (by Metal Type), Value and Volume Data
3.3    Product Benchmarking: Growth Rate – Market Share Matrix, By Metal Type, 2021
3.4    Patent Analysis
         3.4.1    Patent Analysis (by Status)
         3.4.2    Patent Analysis (by Organization)
3.5    Pricing Analysis

4.1    North America
         4.1.1    Markets
                     4.1.1.1    Following are the Key Producers and Suppliers in North America:
                     4.1.1.2    Business Drivers
                     4.1.1.3    Business Challenges
         4.1.2    Applications
                     4.1.2.1    North America Precious Metals Market for Automotive Applications ( by End User), Volume and Value Data
                     4.1.2.2    North America Precious Metals Market for Automotive Applications ( by Component), Volume and Value Data
         4.1.3    Products
                     4.1.3.1    North America Precious Metals Market for Automotive Applications ( by Metal Type), Volume and Value Data
         4.1.4    North America (by Country)
                     4.1.4.1    U.S.
                                    4.1.4.1.1    Markets
                                                      4.1.4.1.1.1    Buyer Attributes
                                                      4.1.4.1.1.2    Following are the Key Producers and Suppliers in the U.S.
                                                      4.1.4.1.1.3    Regulatory Landscape
                                                      4.1.4.1.1.4    Business Drivers
                                                      4.1.4.1.1.5    Business Challenges
                                    4.1.4.1.2    Applications
                                                      4.1.4.1.2.1    U.S. Precious Metals Market for Automotive Applications (by End User), Volume and Value Data
                                                      4.1.4.1.2.2    U.S. Precious Metals Market for Automotive Applications (by Component), Volume and Value Data
                                    4.1.4.1.3    Products
                                                      4.1.4.1.3.1    U.S. Precious Metals Market for Automotive Applications (by Metal Type), Volume and Value Data
                     4.1.4.2    Canada
                                    4.1.4.2.1    Markets
                                                      4.1.4.2.1.1    Buyer Attributes
                                                      4.1.4.2.1.2    Following are the Key Producers and Suppliers in Canada:
                                                      4.1.4.2.1.3    Regulatory Landscape
                                                      4.1.4.2.1.4    Business Drivers
                                                      4.1.4.2.1.5    Business Challenges
                                    4.1.4.2.2    Applications
                                                      4.1.4.2.2.1    Canada Precious Metals Market for Automotive Applications (by End User), Volume and Value Data
                                                      4.1.4.2.2.2    Canada Precious Metals Market for Automotive Applications (by Component), Volume and Value Data
                                    4.1.4.2.3    Products
                                                      4.1.4.2.3.1    Canada Precious Metals Market for Automotive Applications (by Metal Type), Volume and Value Data
                     4.1.4.3    Mexico
                                    4.1.4.3.1    Markets
                                                      4.1.4.3.1.1    Buyer Attributes
                                                      4.1.4.3.1.2    Following are the Key Producers and Suppliers in Mexico:
                                                      4.1.4.3.1.3    Business Drivers
                                                      4.1.4.3.1.4    Business Challenges
                                    4.1.4.3.2    Applications
                                                      4.1.4.3.2.1    Mexico Precious Metals Market for Automotive Applications (by End User), Volume and Value Data
                                                      4.1.4.3.2.2    Mexico Precious Metals Market for Automotive Applications (by Component), Volume and Value Data
                                    4.1.4.3.3    Products
                                                      4.1.4.3.3.1    Mexico Precious Metals Market for Automotive Applications (by Metal Type), Volume and Value Data
4.2    Europe
         4.2.1    Market
                     4.2.1.1    Following are the Key Producers and Suppliers in Europe:
                     4.2.1.2    Business Drivers
                     4.2.1.3    Business Challenges
         4.2.2    Applications
                     4.2.2.1    Europe Precious Metals Market for Automotive Applications ( by End User), Volume and Value Data
                     4.2.2.2    Europe Precious Metals Market for Automotive Applications ( by Component), Volume and Value Data
         4.2.3    Products
                     4.2.3.1    Europe Precious Metals Market for Automotive Applications ( by Metal Type), Volume and Value Data
         4.2.4    Europe (by Country)
                     4.2.4.1    Germany
                                    4.2.4.1.1    Market
                                                      4.2.4.1.1.1    Buyer Attributes
                                                      4.2.4.1.1.2    Following are the Key Producers and Suppliers in Germany:
                                                      4.2.4.1.1.3    Regulatory Landscape
                                                      4.2.4.1.1.4    Business Drivers
                                                      4.2.4.1.1.5    Business Challenges
                                    4.2.4.1.2    Applications
                                                      4.2.4.1.2.1    Germany Precious Metals Market for Automotive Applications (by End User), Volume and Value Data
                                                      4.2.4.1.2.2    Germany Precious Metals Market for Automotive Applications (by Component), Volume and Value Data
                                    4.2.4.1.3    Products
                                                      4.2.4.1.3.1    Germany Precious Metals Market for Automotive Applications (by Metal Type), Volume and Value Data
                     4.2.4.2    France
                                    4.2.4.2.1    Market
                                                      4.2.4.2.1.1    Buyer Attributes
                                                      4.2.4.2.1.2    Following are the Key Producers and Suppliers in France:
                                                      4.2.4.2.1.3    Regulatory Landscape
                                                      4.2.4.2.1.4    Business Drivers
                                                      4.2.4.2.1.5    Business Challenges
                                    4.2.4.2.2    Applications
                                                      4.2.4.2.2.1    France Precious Metals Market for Automotive Applications (by End User), Volume and Value Data
                                                      4.2.4.2.2.2    France Precious Metals Market for Automotive Applications (by Component), Volume and Value Data
                                    4.2.4.2.3    Products
                                                      4.2.4.2.3.1    France Precious Metals Market for Automotive Applications (by Metal Type), Volume and Value Data
                     4.2.4.3    Italy
                                    4.2.4.3.1    Market
                                                      4.2.4.3.1.1    Buyer Attributes
                                                      4.2.4.3.1.2    Following are the Key Producers and Suppliers in Italy:
                                                      4.2.4.3.1.3    Regulatory Landscape
                                                      4.2.4.3.1.4    Business Drivers
                                                      4.2.4.3.1.5    Business Challenges
                                    4.2.4.3.2    Applications
                                                      4.2.4.3.2.1    Italy Precious Metals Market for Automotive Applications (by End User), Volume and Value Data
                                                      4.2.4.3.2.2    Italy Precious Metals Market for Automotive Applications (by Component), Volume and Value Data
                                    4.2.4.3.3    Products
                                                      4.2.4.3.3.1    Italy Precious Metals Market for Automotive Applications (by Metal Type), Volume and Value Data
                     4.2.4.4    Spain
                                    4.2.4.4.1    Markets
                                                      4.2.4.4.1.1    Buyer Attributes
                                                      4.2.4.4.1.2    Following are the Key Producers and Suppliers in Spain:
                                                      4.2.4.4.1.3    Regulatory Landscape
                                                      4.2.4.4.1.4    Business Drivers
                                                      4.2.4.4.1.5    Business Challenges
                                    4.2.4.4.2    Applications
                                                      4.2.4.4.2.1    Spain Precious Metals Market for Automotive Applications (by End User), Volume and Value Data
                                                      4.2.4.4.2.2    Spain Precious Metals Market for Automotive Applications (by Component), Volume and Value Data
                                    4.2.4.4.3    Products
                                                      4.2.4.4.3.1    Spain Precious Metals Market for Automotive Applications (by Metal Type), Volume and Value Data
                     4.2.4.5    Rest-of-Europe (RoE)
                                    4.2.4.5.1    Market
                                                      4.2.4.5.1.1    Buyer Attributes
                                                      4.2.4.5.1.2    Following are the Key Producers and Suppliers in Rest-of-Europe:
                                                      4.2.4.5.1.3    Business Drivers
                                                      4.2.4.5.1.4    Business Challenges
                                    4.2.4.5.2    Applications
                                                      4.2.4.5.2.1    Rest-of-Europe Precious Metals Market for Automotive Applications (by End User), Volume and Value Data
                                                      4.2.4.5.2.2    Rest-of-Europe Precious Metals Market for Automotive Applications (by Component), Volume and Value Data
                                    4.2.4.5.3    Products
                                                      4.2.4.5.3.1    Rest-of-Europe Precious Metals Market for Automotive Applications (by Metal Type), Volume and Value Data
4.3    U.K.
         4.3.1    Markets
                     4.3.1.1    Buyer Attributes
                     4.3.1.2    Following are the Key Producers and Suppliers in the U.K.:
                     4.3.1.3    Regulatory Landscape
                     4.3.1.4    Business Drivers
                     4.3.1.5    Business Challenges
         4.3.2    Applications
                     4.3.2.1    U.K. Precious Metals Market for Automotive Applications ( by End User), Volume and Value Data
                     4.3.2.2    U.K. Precious Metals Market for Automotive Applications ( by Component), Volume and Value Data
         4.3.3    Products
                     4.3.3.1    U.K. Precious Metals Market for Automotive Applications ( by Metal Type), Volume and Value Data
4.4    China
         4.4.1    Markets
                     4.4.1.1    Buyer Attributes
                     4.4.1.2    Following are the Key Producers and Suppliers in China:
                     4.4.1.3    Regulatory Landscape
                     4.4.1.4    Business Drivers
                     4.4.1.5    Business Challenges
         4.4.2    Applications
                     4.4.2.1    China Precious Metals Market for Automotive Applications ( by End User), Volume and Value Data
                     4.4.2.2    China Precious Metals Market for Automotive Applications ( by Component), Volume and Value Data
         4.4.3    Products
                     4.4.3.1    China Precious Metals Market for Automotive Applications ( by Metal Type), Volume and Value Data
4.5    Asia-Pacific and Japan
         4.5.1    Markets
                     4.5.1.1    Following are the Key Producers and Suppliers in Asia-Pacific and Japan:
                     4.5.1.2    Business Drivers
                     4.5.1.3    Business Challenges
         4.5.2    Applications
                     4.5.2.1    Asia-Pacific and Japan Precious Metals Market for Automotive Applications ( by End User), Volume and Value Data
                     4.5.2.2    Asia-Pacific and Japan Precious Metals Market for Automotive Applications ( by Component), Volume and Value Data
         4.5.3    Products
                     4.5.3.1    Asia-Pacific and Japan Precious Metals Market for Automotive Applications ( by Metal Type), Volume and Value Data
         4.5.4    Asia-Pacific and Japan (by Country)
                     4.5.4.1    Japan
                                    4.5.4.1.1    Markets
                                                      4.5.4.1.1.1    Buyer Attributes
                                                      4.5.4.1.1.2    Following are the Key Producers and Suppliers in Japan:
                                                      4.5.4.1.1.3    Regulatory Landscape
                                                      4.5.4.1.1.4    Business Drivers
                                                      4.5.4.1.1.5    Business Challenges
                                    4.5.4.1.2    Applications
                                                      4.5.4.1.2.1    Japan Precious Metals Market for Automotive Applications (by End User), Volume and Value Data
                                                      4.5.4.1.2.2    Japan Precious Metals Market for Automotive Applications (by Component), Volume and Value Data
                                    4.5.4.1.3    Products
                                                      4.5.4.1.3.1    Japan Precious Metals Market for Automotive Applications (by Metal Type), Volume and Value Data
                     4.5.4.2    South Korea
                                    4.5.4.2.1    Market
                                                      4.5.4.2.1.1    Buyer Attributes
                                                      4.5.4.2.1.2    Following are the Key Producers and Suppliers in South Korea:
                                                      4.5.4.2.1.3    Regulatory Landscape
                                                      4.5.4.2.1.4    Business Drivers
                                                      4.5.4.2.1.5    Business Challenges
                                    4.5.4.2.2    Applications
                                                      4.5.4.2.2.1    South Korea Precious Metals Market for Automotive Applications (by End User), Volume and Value Data
                                                      4.5.4.2.2.2    South Korea Precious Metals Market for Automotive Applications (by Component), Volume and Value Data
                                    4.5.4.2.3    Products
                                                      4.5.4.2.3.1    South Korea Precious Metals Market for Automotive Applications (by Metal Type), Volume and Value Data
                     4.5.4.3    India
                                    4.5.4.3.1    Markets
                                                      4.5.4.3.1.1    Buyer Attributes
                                                      4.5.4.3.1.2    Following are the Key Producers and Suppliers in India:
                                                      4.5.4.3.1.3    Business Drivers
                                                      4.5.4.3.1.4    Business Challenges
                                    4.5.4.3.2    Applications
                                                      4.5.4.3.2.1    India Precious Metals Market for Automotive Applications (by End User), Volume and Value Data
                                                      4.5.4.3.2.2    India Precious Metals Market for Automotive Applications (by Component), Volume and Value Data
                                    4.5.4.3.3    Products
                                                      4.5.4.3.3.1    India Precious Metals Market for Automotive Applications (by Metal Type), Volume and Value Data
                     4.5.4.4    Rest-of-Asia-Pacific
                                    4.5.4.4.1    Market
                                                      4.5.4.4.1.1    Buyer Attributes
                                                      4.5.4.4.1.2    Following are the Key Producers and Suppliers in Rest of Asia Pacific
                                                      4.5.4.4.1.3    Business Drivers
                                                      4.5.4.4.1.4    Business Challenges
                                    4.5.4.4.2    Applications
                                                      4.5.4.4.2.1    Rest-of-Asia-Pacific Precious Metals Market for Automotive Applications (by End User), Volume and Value Data
                                                      4.5.4.4.2.2    Rest-of-Asia-Pacific Precious Metals Market for Automotive Applications (by Component), Volume and Value Data
                                    4.5.4.4.3    Products
                                                      4.5.4.4.3.1    Rest-of-Asia-Pacific Precious Metals Market for Automotive Applications (by Metal Type), Volume and Value Data
4.6    Rest-of-the-World
         4.6.1    Markets
                     4.6.1.1    Following are the Key Producers and Suppliers in Rest-of-the-World:
                     4.6.1.2    Business Drivers
                     4.6.1.3    Business Challenges
         4.6.2    Applications
                     4.6.2.1    Rest-of-the-World Precious Metals Market for Automotive Applications ( by End User), Volume and Value Data
                     4.6.2.2    Rest-of-the-World Precious Metals Market for Automotive Applications ( by Component), Volume and Value Data
         4.6.3    Products
                     4.6.3.1    Rest-of-the-World Precious Metals Market for Automotive Applications ( by Metal Type), Volume and Value Data
         4.6.4    Rest-of-the-World (by Region)
                     4.6.4.1    Middle East and Africa
                                    4.6.4.1.1    Markets
                                                      4.6.4.1.1.1    Following are the Key Producers and Suppliers in the Middle East and Africa:
                                                      4.6.4.1.1.2    Regulatory Landscape
                                                      4.6.4.1.1.3    Business Drivers
                                                      4.6.4.1.1.4    Business Challenges
                                    4.6.4.1.2    Applications
                                                      4.6.4.1.2.1    Middle East and Africa Precious Metals Market for Automotive Applications (by End User), Volume and Value Data
                                                      4.6.4.1.2.2    Middle East and Africa Precious Metals Market for Automotive Applications (by Component), Volume and Value Data
                                    4.6.4.1.3    Products
                                                      4.6.4.1.3.1    Middle East and Africa Precious Metals Market for Automotive Applications (by Metal Type), Volume and Value Data
                     4.6.4.2    South America
                                    4.6.4.2.1    Markets
                                                      4.6.4.2.1.1    Following are the Key Producers and Suppliers in South America:
                                                      4.6.4.2.1.2    Business Drivers
                                                      4.6.4.2.1.3    Business Challenges
                                    4.6.4.2.2    Applications
                                                      4.6.4.2.2.1    South America Precious Metals Market for Automotive Applications (by End User), Volume and Value Data
                                                      4.6.4.2.2.2    South America Precious Metals Market for Automotive Applications (by Component), Volume and Value Data
                                    4.6.4.2.3    Products
                                                      4.6.4.2.3.1    South America Precious Metals Market for Automotive Applications (by Metal Type), Volume and Value Data

5.1    Competitive Benchmarking
         5.1.1    Competitive Position Matrix
         5.1.2    Product Matrix for Key Companies
         5.1.3    Market Share Analysis of Key Companies
5.2    Company Profiles
         5.2.1    Heraeus Holding
                     5.2.1.1    Company Overview
                                    5.2.1.1.1    Role of the Company in the Market
                                    5.2.1.1.2    Product Portfolio
                                    5.2.1.1.3    Production Sites
                     5.2.1.1    Business Strategies
                                    5.2.1.1.1    Market Developments
                     5.2.1.2    Corporate Strategies
                                    5.2.1.2.1    Merger and Acquisitions
                     5.2.1.3    R&D Analysis
                     5.2.1.4    Analyst’s Point of View
         5.2.2    Anglo American Platinum Limited
                     5.2.2.1    Company Overview
                                    5.2.2.1.1    Role of the Company in the Market
                                    5.2.2.1.2    Product Portfolio
                                    5.2.2.1.3    Production Sites
                     5.2.2.2    Business Strategies
                                    5.2.2.2.1    Market Developments
                     5.2.2.3    Corporate Strategies
                                    5.2.2.3.1    Partnerships, Collaborations, and Joint Ventures
                                    5.2.2.3.2    Merger and Acquisitions
                     5.2.2.4    R&D Analysis
                     5.2.2.5    Analyst’s Point of View
         5.2.3    Impala Platinum Holdings Limited
                     5.2.3.1    Company Overview
                                    5.2.3.1.1    Role of the Company in the Market
                                    5.2.3.1.2    Product Portfolio
                                    5.2.3.1.3    Production Site
                     5.2.3.2    Business Strategies
                                    5.2.3.2.1    Market Developments
                     5.2.3.3    Corporate Strategies
                                    5.2.3.3.1    Partnerships, Collaborations, and Joint Ventures
                                    5.2.3.3.2    Merger and Acquisitions
                     5.2.3.4    Analyst’s Point of View
         5.2.4    Sibnaye-Stillwater
                     5.2.4.1    Company Overview
                                    5.2.4.1.1    Role of the Company in the Market
                                    5.2.4.1.2    Product Portfolio
                                    5.2.4.1.3    Production Site
                     5.2.4.2    Business Strategies
                                    5.2.4.2.1    Product Developments
                     5.2.4.3    Corporate Strategies
                                    5.2.4.3.1    Partnerships, Collaborations, and Joint Ventures
                                    5.2.4.3.2    Merger and Acquisitions
                     5.2.4.4    R&D Analysis
                     5.2.4.5    Analyst’s Point of View
         5.2.5    Northam Platinum Limited
                     5.2.5.1    Company Overview
                                    5.2.5.1.1    Role of the Company in the Market
                                    5.2.5.1.2    Product Portfolio
                                    5.2.5.1.3    Production Site
                     5.2.5.2    Business Strategies
                                    5.2.5.2.1    Market Developments
                     5.2.5.3    Corporate Strategies
                                    5.2.5.3.1    Partnerships, Collaborations, and Joint Ventures
                                    5.2.5.3.2    Merger and Acquisitions
                     5.2.5.4    Analyst’s Point of View
         5.2.6    Norilsk Nickel
                     5.2.6.1    Company Overview
                                    5.2.6.1.1    Role of the Company in the Market
                                    5.2.6.1.2    Product Portfolio
                                    5.2.6.1.3    Production Site
                     5.2.6.2    Business Strategies
                                    5.2.6.2.1    Market Developments
                     5.2.6.3    Corporate Strategies
                                    5.2.6.3.1    Partnerships, Collaborations, and Joint Ventures
                     5.2.6.4    Analyst’s Point of View
         5.2.7    Umicore
                     5.2.7.1    Company Overview
                                    5.2.7.1.1    Role of the Company in the Market
                                    5.2.7.1.2    Product Portfolio
                                    5.2.7.1.3    Production Site
                     5.2.7.2    Business Strategies
                                    5.2.7.2.1    Market Developments
                     5.2.7.3    R&D Analysis
                     5.2.7.4    Analyst’s Point of View
         5.2.8    TANAKA HOLDINGS Co., Ltd.
                     5.2.8.1    Company Overview
                                    5.2.8.1.1    Role of the Company in the Market
                                    5.2.8.1.2    Product Portfolio
                                    5.2.8.1.3    Production Site
                     5.2.8.2    Business Strategies
                                    5.2.8.2.1    Product Developments
                                    5.2.8.2.2    Market Developments
                     5.2.8.3    Corporate Strategies
                                    5.2.8.3.1    Merger and Acquisitions
                     5.2.8.4    Analyst’s Point of View
         5.2.9    Johnson Matthey
                     5.2.9.1    Company Overview
                                    5.2.9.1.1    Role of the Company in the Market
                                    5.2.9.1.2    Product Portfolio
                                    5.2.9.1.3    Production Site
                     5.2.9.2    Corporate Strategies
                                    5.2.9.2.1    Partnerships, Collaborations, and Joint Ventures
                     5.2.9.3    R&D Analysis
                     5.2.9.4    Analyst’s Point of View
     5.2.10    Sigmund Cohn Corp.
                   5.2.10.1    Company Overview
                                    5.2.10.1.1    Role of the Company in the Market
                                    5.2.10.1.2    Product Portfolio
                                    5.2.10.1.3    Production Site
                   5.2.10.2    Analyst’s Point of View
     5.2.11    FIRST MAJESTIC
                   5.2.11.1    Company Overview
                                    5.2.11.1.1    Role of the Company in the Market
                                    5.2.11.1.2    Product Portfolio
                                    5.2.11.1.3    Production Site
                   5.2.11.2    Corporate Strategies
                                    5.2.11.2.1    Mergers and Acquisitions
                   5.2.11.3    Analyst’s Point of View
     5.2.12    SINO-PLATINUM METALS CO. LTD.
                   5.2.12.1    Company Overview
                                    5.2.12.1.1    Role of the Company in the Market
                                    5.2.12.1.2    Product Portfolio
                                    5.2.12.1.3    Production Site
                   5.2.12.2    Corporate Strategies
                                    5.2.12.2.1    Mergers and Acquisitions
                   5.2.12.3    Analyst’s Point of View
     5.2.13    Hecla Mining Company
                   5.2.13.1    Company Overview
                                    5.2.13.1.1    Role of the Company in the Market
                                    5.2.13.1.2    Product Portfolio
                                    5.2.13.1.3    Production Site
                   5.2.13.2    Corporate Strategies
                                    5.2.13.2.1    Mergers and Acquisitions
                   5.2.13.3    Analyst’s Point of View
     5.2.14    Fresnillo plc
                   5.2.14.1    Company Overview
                                    5.2.14.1.1    Role of the Company in the Market
                                    5.2.14.1.2    Product Portfolio
                                    5.2.14.1.3    Production Site
                   5.2.14.2    Business Strategies
                                    5.2.14.2.1    Market Developments
                   5.2.14.3    Analyst’s Point of View
     5.2.15    Newmont Corporation
                   5.2.15.1    Company Overview
                                    5.2.15.1.1    Role of the Company in the Market
                                    5.2.15.1.2    Product Portfolio
                                    5.2.15.1.3    Production Site
                   5.2.15.2    Corporate Strategies
                                    5.2.15.2.1    Mergers and Acquisitions
                   5.2.15.3    Analyst’s Point of View
     5.2.16    Royal Bafokeng Platinum
                   5.2.16.1    Company Overview
                                    5.2.16.1.1    Role of the Company in the Market
                                    5.2.16.1.2    Product Portfolio
                                    5.2.16.1.3    Production Site
                   5.2.16.2    Business Strategies
                                    5.2.16.2.1    Market Developments
                   5.2.16.3    Corporate Strategies
                                    5.2.16.3.1    Mergers and Acquisitions
                   5.2.16.4    Analyst’s Point of View
     5.2.17    Generation Mining Limited
                   5.2.17.1    Company Overview
                                    5.2.17.1.1    Role of the Company in the Market
                                    5.2.17.1.2    Product Portfolio
                                    5.2.17.1.3    Production Site
                   5.2.17.2    Corporate Strategies
                                    5.2.17.2.1    Partnerships, Collaborations, and Joint Ventures
                                    5.2.17.2.2    Mergers and Acquisitions
                   5.2.17.3    Analyst’s Point of View
     5.2.18    Desktop Metal, Inc.
                   5.2.18.1    Company Overview
                                    5.2.18.1.1    Role of the Company in the Market
                                    5.2.18.1.2    Product Portfolio
                   5.2.18.2    R&D Analysis
                   5.2.18.3    Analyst’s Point of View
     5.2.19    Nexa
                   5.2.19.1    Company Overview
                                    5.2.19.1.1    Role of the Company in the Market
                                    5.2.19.1.2    Product Portfolio
                                    5.2.19.1.3    Production Site
                   5.2.19.2    Corporate Strategies
                                    5.2.19.2.1    Mergers and Acquisitions
                   5.2.19.3    Analyst’s Point of View
     5.2.20    Freeport-McMoRan
                   5.2.20.1    Company Overview
                                    5.2.20.1.1    Role of the Company in the Market
                                    5.2.20.1.2    Product Portfolio
                                    5.2.20.1.3    Production Site
                   5.2.20.2    Corporate Strategies
                                    5.2.20.2.1    Partnerships, Collaborations, and Joint Ventures
                   5.2.20.3    R&D Analysis
                   5.2.20.4    Analyst’s Point of View

6.1    Primary Data Sources
6.2    BIS Data Sources
6.3    Assumptions and Limitations

Table 1:    Key Product Developments
Table 2:    Key Market Developments (2018-2021)
Table 3:    Key Mergers and Acquisitions
Table 4:    Key Partnerships and Joint Ventures
Table 5:    Global Precious Metals Market for Automotive Applications (by End User), Tons, 2021-2031
Table 6:    Global Precious Metals Market for Automotive Applications (by End User), $Million, 2021-2031
Table 7:    Global Precious Metals Market for Automotive Applications (by Component), Tons, 2021-2031
Table 8:    Global Precious Metals Market for Automotive Applications (by Component), $Million, 2021-2031
Table 9:    Global Precious Metals Market for Automotive Applications (by Metal Type), Tons, 2021-2031
Table 10:    Global Precious Metals Market for Automotive Applications (by Metal Type), $Million, 2021-2031
Table 11:    Global Pricing Analysis, Precious Metals Market for Automotive Applications, by Metal Type, $Million/Ton, 2021-2031
Table 12:    Global Precious Metals Market for Automotive Applications (by Region), Tons, 2021-2031
Table 13:    Global Precious Metals Market for Automotive Applications (by Region), $Million, 2021-2031
Table 14:    North America Precious Metals Market for Automotive Applications (by End User), Tons, 2021-2031
Table 15:    North America Precious Metals Market for Automotive Applications (by End User), $Million, 2021-2031
Table 16:    North America Precious Metals Market for Automotive Applications (by Component), Tons, 2021-2031
Table 17:    North America Precious Metals Market for Automotive Applications (by Component), $Million, 2021-2031
Table 18:    North America Precious Metals Market for Automotive Applications (by Metal Type), Tons, 2021-2031
Table 19:    North America Precious Metals Market for Automotive Applications (by Metal Type), $Million, 2021-2031
Table 20:    U.S. Precious Metals Market for Automotive Applications (by End User), Tons, 2021-2031
Table 21:    U.S. Precious Metals Market for Automotive Applications (by End User), $Million, 2021-2031
Table 22:    U.S. Precious Metals Market for Automotive Applications (by Component), Tons, 2021-2031
Table 23:    U.S. Precious Metals Market for Automotive Applications (by Component), $Million, 2021-2031
Table 24:    U.S. Precious Metals Market for Automotive Applications (by Metal Type), Tons, 2021-2031
Table 25:    U.S. Precious Metals Market for Automotive Applications (by Metal Type), $Million, 2021-2031
Table 26:    Canada Precious Metals Market for Automotive Applications (by End User), Tons, 2021-2031
Table 27:    Canada Precious Metals Market for Automotive Applications (by End User), $Million, 2021-2031
Table 28:    Canada Precious Metals Market for Automotive Applications (by Component), Tons, 2021-2031
Table 29:    Canada Precious Metals Market for Automotive Applications (by Component), $Million, 2021-2031
Table 30:    Canada Precious Metals Market for Automotive Applications (by Metal Type), Tons, 2021-2031
Table 31:    Canada Precious Metals Market for Automotive Applications (by Metal Type), $Million, 2021-2031
Table 32:    Mexico Precious Metals Market for Automotive Applications (by End User), Tons, 2021-2031
Table 33:    Mexico Precious Metals Market for Automotive Applications (by End User), $Million, 2021-2031
Table 34:    Mexico Precious Metals Market for Automotive Applications (by Component), Tons, 2021-2031
Table 35:    Mexico Precious Metals Market for Automotive Applications (by Component), $Million, 2021-2031
Table 36:    Mexico Precious Metals Market for Automotive Applications (by Metal Type), Tons, 2021-2031
Table 37:    Mexico Precious Metals Market for Automotive Applications (by Metal Type), $Million, 2021-2031
Table 38:    Europe Precious Metals Market for Automotive Applications (by End User), Tons, 2021-2031
Table 39:    Europe Precious Metals Market for Automotive Applications (by End User), $Million, 2021-2031
Table 40:    Europe Precious Metals Market for Automotive Applications (by Component), Tons, 2021-2031
Table 41:    Europe Precious Metals Market for Automotive Applications (by Component), $Million, 2021-2031
Table 42:    Europe Precious Metals Market for Automotive Applications (by Metal Type), Tons, 2021-2031
Table 43:    Europe Precious Metals Market for Automotive Applications (by Metal Type), $Million, 2021-2031
Table 44:    Germany Precious Metals Market for Automotive Applications (by End User), Tons, 2021-2031
Table 45:    Germany Precious Metals Market for Automotive Applications (by End User), $Million, 2021-2031
Table 46:    Germany Precious Metals Market for Automotive Applications (by Component), Tons, 2021-2031
Table 47:    Germany Precious Metals Market for Automotive Applications (by Component), $Million, 2021-2031
Table 48:    Germany Precious Metals Market for Automotive Applications (by Metal Type), Tons, 2021-2031
Table 49:    Germany Precious Metals Market for Automotive Applications (by Metal Type), $Million, 2021-2031
Table 50:    France Precious Metals Market for Automotive Applications (by End User), Tons, 2021-2031
Table 51:    France Precious Metals Market for Automotive Applications (by End User), $Million, 2021-2031
Table 52:    France Precious Metals Market for Automotive Applications (by Component), Tons, 2021-2031
Table 53:    France Precious Metals Market for Automotive Applications (by Component), $Million, 2021-2031
Table 54:    France Precious Metals Market for Automotive Applications (by Metal Type), Tons, 2021-2031
Table 55:    France Precious Metals Market for Automotive Applications (by Metal Type), $Million, 2021-2031
Table 56:    Italy Precious Metals Market for Automotive Applications (by End User), Tons, 2021-2031
Table 57:    Italy Precious Metals Market for Automotive Applications (by End User), $Million, 2021-2031
Table 58:    Italy Precious Metals Market for Automotive Applications (by Component), Tons, 2021-2031
Table 59:    Italy Precious Metals Market for Automotive Applications (by Component), $Million, 2021-2031
Table 60:    Italy Precious Metals Market for Automotive Applications (by Metal Type), Tons, 2021-2031
Table 61:    Italy Precious Metals Market for Automotive Applications (by Metal Type), $Million, 2021-2031
Table 62:    Spain Precious Metals Market for Automotive Applications (by End User), Tons, 2021-2031
Table 63:    Spain Precious Metals Market for Automotive Applications (by End User), $Million, 2021-2031
Table 64:    Spain Precious Metals Market for Automotive Applications (by Component), Tons, 2021-2031
Table 65:    Spain Precious Metals Market for Automotive Applications (by Component), $Million, 2021-2031
Table 66:    Spain Precious Metals Market for Automotive Applications (by Metal Type), Tons, 2021-2031
Table 67:    Spain Precious Metals Market for Automotive Applications (by Metal Type), $Million, 2021-2031
Table 68:    Rest-of-Europe Precious Metals Market for Automotive Applications (by End User), Tons, 2021-2031
Table 69:    Rest-of-Europe Precious Metals Market for Automotive Applications (by End User), $Million, 2021-2031
Table 70:    Rest-of-Europe Precious Metals Market for Automotive Applications (by Component), Tons, 2021-2031
Table 71:    Rest-of-Europe Precious Metals Market for Automotive Applications (by Component), $Million, 2021-2031
Table 72:    Rest-of-Europe Precious Metals Market for Automotive Applications (by Metal Type), Tons, 2021-2031
Table 73:    Rest-of-Europe Precious Metals Market for Automotive Applications (by Metal Type), $Million, 2021-2031
Table 74:    U.K. Precious Metals Market for Automotive Applications (by End User), Tons, 2021-2031
Table 75:    U.K. Precious Metals Market for Automotive Applications (by End User), $Million, 2021-2031
Table 76:    U.K. Precious Metals Market for Automotive Applications (by Component), Tons, 2021-2031
Table 77:    U.K. Precious Metals Market for Automotive Applications (by Component), $Million, 2021-2031
Table 78:    U.K. Precious Metals Market for Automotive Applications (by Metal Type), Tons, 2021-2031
Table 79:    U.K. Precious Metals Market for Automotive Applications (by Metal Type), $Million, 2021-2031
Table 80:    China Precious Metals Market for Automotive Applications (by End User), Tons, 2021-2031
Table 81:    China Precious Metals Market for Automotive Applications (by End User), $Million, 2021-2031
Table 82:    China Precious Metals Market for Automotive Applications (by Component), Tons, 2021-2031
Table 83:    China Precious Metals Market for Automotive Applications (by Component), $Million, 2021-2031
Table 84:    China Precious Metals Market for Automotive Applications (by Metal Type), Tons, 2021-2031
Table 85:    China Precious Metals Market for Automotive Applications (by Metal Type), $Million, 2021-2031
Table 86:    Asia-Pacific and Japan Precious Metals Market for Automotive Applications (by End User), Tons, 2021-2031
Table 87:    Asia-Pacific and Japan Precious Metals Market for Automotive Applications (by End User), $Million, 2021-2031
Table 88:    Asia-Pacific and Japan Precious Metals Market for Automotive Applications (by Component), Tons, 2021-2031
Table 89:    Asia-Pacific and Japan Precious Metals Market for Automotive Applications (by Component), $Million, 2021-2031
Table 90:    Asia-Pacific and Japan Precious Metals Market for Automotive Applications (by Metal Type), Tons, 2021-2031
Table 91:    Asia-Pacific and Japan Precious Metals Market for Automotive Applications (by Metal Type), $Million, 2021-2031
Table 92:    Japan Precious Metals Market for Automotive Applications (by End User), Tons, 2021-2031
Table 93:    Japan Precious Metals Market for Automotive Applications (by End User), $Million, 2021-2031
Table 94:    Japan Precious Metals Market for Automotive Applications (by Component), Tons, 2021-2031
Table 95:    Japan Precious Metals Market for Automotive Applications (by Component), $Million, 2021-2031
Table 96:    Japan Precious Metals Market for Automotive Applications (by Metal Type), Tons, 2021-2031
Table 97:    Japan Precious Metals Market for Automotive Applications (by Metal Type), $Million, 2021-2031
Table 98:    South Korea Precious Metals Market for Automotive Applications (by End User), Tons, 2021-2031
Table 99:    South Korea Precious Metals Market for Automotive Applications (by End User), $Million, 2021-2031
Table 100:    South Korea Precious Metals Market for Automotive Applications (by Component), Tons, 2021-2031
Table 101:    South Korea Precious Metals Market for Automotive Applications (by Component), $Million, 2021-2031
Table 102:    South Korea Precious Metals Market for Automotive Applications (by Metal Type), Tons, 2021-2031
Table 103:    South Korea Precious Metals Market for Automotive Applications (by Metal Type), $Million, 2021-2031
Table 104:    India Precious Metals Market for Automotive Applications (by End User), Tons, 2021-2031
Table 105:    India Precious Metals Market for Automotive Applications (by End User), $Million, 2021-2031
Table 106:    India Precious Metals Market for Automotive Applications (by Component), Tons, 2021-2031
Table 107:    India Precious Metals Market for Automotive Applications (by Component), $Million, 2021-2031
Table 108:    India Precious Metals Market for Automotive Applications (by Metal Type), Tons, 2021-2031
Table 109:    India Precious Metals Market for Automotive Applications (by Metal Type), $Million, 2021-2031
Table 110:    Rest-of-Asia-Pacific Precious Metals Market for Automotive Applications (by End User), Tons, 2021-2031
Table 111:    Rest-of-Asia-Pacific Precious Metals Market for Automotive Applications (by End User), $Million, 2021-2031
Table 112:    Rest-of-Asia-Pacific Precious Metals Market for Automotive Applications (by Component), Tons, 2021-2031
Table 113:    Rest-of-Asia-Pacific Precious Metals Market for Automotive Applications (by Component), $Million, 2021-2031
Table 114:    Rest-of-Asia-Pacific Precious Metals Market for Automotive Applications (by Metal Type), Tons, 2021-2031
Table 115:    Rest-of-Asia-Pacific Precious Metals Market for Automotive Applications (by Metal Type), $Million, 2021-2031
Table 116:    Rest-of-the-World Precious Metals Market for Automotive Applications (by End User), Tons, 2021-2031
Table 117:    Rest-of-the-World Precious Metals Market for Automotive Applications (by End User), $Million, 2021-2031
Table 118:    Rest-of-the-World Precious Metals Market for Automotive Applications (by Component), Tons, 2021-2031
Table 119:    Rest-of-the-World Precious Metals Market for Automotive Applications (by Component), $Million, 2021-2031
Table 120:    Rest-of-the-World Precious Metals Market for Automotive Applications (by Metal Type), Tons, 2021-2031
Table 121:    Rest-of-the-World Precious Metals Market for Automotive Applications (by Metal Type), $Million, 2021-2031
Table 122:    Middle East and Africa Precious Metals Market for Automotive Applications (by End User), Tons, 2021-2031
Table 123:    Middle East and Africa Precious Metals Market for Automotive Applications (by End User), $Million, 2021-2031
Table 124:    Middle East and Africa Precious Metals Market for Automotive Applications (by Component), Tons, 2021-2031
Table 125:    Middle East and Africa Precious Metals Market for Automotive Applications (by Component), $Million, 2021-2031
Table 126:    Middle East and Africa Precious Metals Market for Automotive Applications (by Metal Type), Tons, 2021-2031
Table 127:    Middle East and Africa Precious Metals Market for Automotive Applications (by Metal Type), $Million, 2021-2031
Table 128:    South America Precious Metals Market for Automotive Applications (by End User), Tons, 2021-2031
Table 129:    South America Precious Metals Market for Automotive Applications (by End User), $Million, 2021-2031
Table 130:    South America Precious Metals Market for Automotive Applications (by Component), Tons, 2021-2031
Table 131:    South America Precious Metals Market for Automotive Applications (by Component), $Million, 2021-2031
Table 132:    South America Precious Metals Market for Automotive Applications (by Metal Type), Tons, 2021-2031
Table 133:    South America Precious Metals Market for Automotive Applications (by Metal Type), $Million, 2021-2031
Table 134:    Product Matrix for Key Companies
Table 135:    Market Shares of Key Companies

Figure 1:    Global Precious Metals Market for Automotive Applications, $Million, 2021, 2022, and 2031
Figure 2:    Global Precious Metals Market for Automotive Applications (by End User), $Million, 2021 and 2031
Figure 3:    Global Precious Metals Market for Automotive Applications (by Metal Type), $Million, 2021 and 2031
Figure 4:    Global Precious Metals Market for Automotive Applications (by Component), $Million, 2021 and 2031
Figure 5:    Global Precious Metals Market for Automotive Applications (by Region), $Million, 2021 and 2031
Figure 6:    Global Precious Metals Market for Automotive Applications Coverage
Figure 7:    Supply Chain Analysis of Precious Metals Market for Automotive Applications
Figure 8:    Product Benchmarking
Figure 9:    Total Year-Wise Patents Filed for Global Precious Metals Market for Automotive Applications, January 2019-December 2021
Figure 10:    Patent Analysis (by Status), January 2019-December 2021
Figure 11:    Patent Analysis (by Organization), January 2019-December 2021
Figure 12:    Research Methodology
Figure 13:    Top-Down and Bottom-Up Approach
Figure 14:    Precious Metals Market for Automotive Applications; Influencing Factors
Figure 15:    Assumptions and Limitations

Market Report Coverage

Precious Metals Market for Automotive Applications

Base Year

2021

Market Size in 2021

$40,853.4 Million

Forecast Period

2022-2031

Value Projection and Estimation by 2031

$79,820.7 Million

CAGR During Forecast Period

7.0%

Number of Tables

135

Number of Pages

234

Number of Figures

15

 

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts, analyzing company coverage, product portfolio, and market penetration.

The top segment players are expected to lead the precious metals market for automotive applications and are expected to enter the market using silver metals in the long term, which capture around 81% of the market by volume as of 2021. Players utilizing other metals, including platinum, accounted for around 3.4%, palladium and rhodium accounted for around 13%, gold accounted for approximately 2%, and other precious metals accounted for less than 1% of the total demand in 2021 in terms of volume.

Some of the prominent established names in this market are:

•    Heraeus Holding
•    Anglo American Platinum Limited
•    Impala Platinum Holdings Limited
•    Sibnaye-Stillwater
•    Northam Platinum Limited
•    Norilsk Nickel
•    Umicore
•    TANAKA HOLDINGS Co., Ltd.
•    Johnson Matthey
•    Sigmund Cohn Corp.
•    FIRST MAJESTIC
•    SINO-PLATINUM METALS CO. LTD.
•    Hecla Mining Company
•    Fresnillo plc
•    Newmont Corporation
•    Royal Bafokeng Platinum
•    Generation Mining Limited
•    Desktop Metal, Inc.
•    Nexa
•    Freeport-McMoRan

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the different metal types involved in the production of automotive applications, including palladium, platinum, rhodium, gold, silver, and others. Moreover, the study provides the reader with a detailed understanding of the different precious metals markets for automotive applications based on end use (light commercial vehicles, heavy commercial vehicles, passenger cars, and electric vehicles). Precious metals are gaining traction in automotive on the back of their increasing application in combustion chambers. When exhaust gases flow through the system, these metals transform the pollutants from the combustion chamber into lesser hazardous gases.

Growth/Marketing Strategy: The precious metals market for automotive applications has seen major development by key players operating in the market, such as business expansions, partnerships, collaborations, mergers and acquisitions, and joint ventures. The favored strategy for the companies has been business expansions and acquisitions to strengthen their position in the precious metals market for automotive applications. For instance, in March 2020, Sibnaye-Stillwater and Impala Platinum, along with BASF, introduced a unique tri-metal auto catalyst that enables the partial replacement of palladium with platinum. Implementation of the innovative tri-metal catalyst technology is anticipated to minimize catalytic converter costs and substantially alleviate prolonged palladium deficiencies.

Competitive Strategy: Key players in the precious metals market for automotive applications analyzed and profiled in the study involve precious metals manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the precious metals market for automotive applications has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Industry & Technology Overview

Precious Metals Market for Automotive Applications: Industry Overview

The demand for precious metals for automotive applications is anticipated to grow with the increasing demand for catalytic convertors from the automotive industry. Furthermore, increased investment in African countries in the arena of platinum group metals is anticipated to create prospects for the market in the subsequent years. Moreover, increasing utilization of platinum in electric vehicles is another factor fuelling the demand for the precious metals market for automotive applications during the forecast period 2022-2031. However, the high costs of platinum group metals are anticipated to hinder the market growth in the upcoming future.

Market Lifecycle Stage

The precious metals market for automotive applications is still in the growth phase. Increased investment and research and development activities are expected to boost the market for precious metals for automotive applications. Furthermore, due to high demand from the end-use industries and rising public concern, government regulations related to carbon emissions are expected to increase the demand for electric vehicles, thereby bolstering the precious metals market for automotive applications. Moreover, precious metals have the potential to make a significant impact by improving environmental sustainability, and their utilization in the components such as catalytic converters and engine sensors is further expected to spur the demand for precious metals. Precious metals are anticipated to become much more valuable as automobiles get more advanced.

Precious Metals Market for Automotive Applications

Industrial Impact

• With an increased worldwide focus on achieving net-zero carbon emissions, the shift toward sustainable technologies brings significant sales and financing opportunities. This shift was prominently experienced in regions and countries such as North America, Europe, South Africa, and some Asian countries.
• Furthermore, precious metals have a moderate to high impact on automotive applications; however, in the upcoming future, with increased production of automotive applications, the impact is anticipated to increase.

Impact of COVID-19

The COVID-19 pandemic period considerably impacted the production of precious metals as a result of country-wide shutdowns of manufacturing sites, labor shortages, and disruptions in supply and demand chains globally, which distorted the market. The lockdowns imposed by the government significantly reduced raw material productivity due to a shortage of operations in many regions throughout the world. The automotive sector has been in a slowdown for the last couple of years. Due to the closure of production plants, the sector experienced a scarcity of automotive parts. However, the market is anticipated to have recover and is expected to rise gradually over the forecast period.

Market Segmentation:

Segmentation 1: by End User
•    Light Commercial Vehicles
•    Heavy Commercial Vehicles
•    Passenger Cars
•    Electric Vehicles

Among different end users, the passenger car segment is expected to be the largest during the forecast period 2022-2031.

Segmentation 2: by Metal Type
•    Palladium
•    Platinum
•    Rhodium
•    Gold
•    Silver
•    Others

Among different metal types, palladium is anticipated to lead the market during the forecast period 2022-2031. It is a widely utilized precious metal for automobiles, owing to its high durability.

Segmentation 3: by Component
•    Catalytic Converters
•    Engine Control Units
•    Circuit Boards
•    Sensors
•    Switches
•    Windshield Defogger
•    Others

Among different components, catalytic converters are anticipated to lead the market during the forecast period 2022-2031.

Segmentation 4: by Region
•    North America - U.S., Canada, and Mexico
•    Europe - Germany, France, Italy, Spain, and Rest-of-Europe
•    China
•    U.K.
•    Asia-Pacific and Japan - Japan, India, South Korea, and Rest-of-Asia-Pacific 
•    Rest-of-the-World

China is expected to lead the precious metals market for automotive applications throughout the forecast period, owing to the presence of a significant number of precious metals market for automotive applications manufacturers such as Heraeus Holding, Sino-Platinum, and others.

Recent Developments in Precious Metals Market for Automotive Applications

•    In September 2018, in Nanjing, China, Heraeus Precious Metals inaugurated the world's most comprehensive precious metals facility. The new plant aims to significantly boost the company's ability to refine and recycle precious metals and chemical products, particularly platinum group metals (PGMs).
•  In 2019, Tanaka Holdings Co. Ltd. announced the establishment of a new subsidiary, Tanaka Kikinzoku (India), in Mumbai. The new division intends to enhance precious metal product distribution networks in India, the Middle East, and Africa. By 2024, the company expects to achieve annual sales of around $26 million.

Demand - Drivers and Limitations

Following are the demand drivers for the precious metals market for automotive applications:

•    Growing Demand for Precious Metals in Automotive Catalytic Convertors
•    Increasing Utilization of PGMs in Manufacturing Electric Vehicles 
•    Rising Environmental Regulations to Reduce Toxic Vehicle Emissions

The market is expected to face some limitations due to the following challenges:

•    High Cost of Precious Metals
•    PGMs Overuse Causes Human Health Concerns
•    Price Volatility of Precious Metals
•    Russia-Ukraine Conflict to Disrupt Precious Metals Supply Chain

Analyst Thoughts

According to Prasad Gade, Research Analyst, BIS Research, "Precious metals play a significant role in the production of three-way catalytic converters, which purify the exhaust gas. Precious metals are widely used in numerous automotive applications such as engine units, switches, reflective films and mirrors, fuel cells, batteries, and other electrical components of the vehicle. Also, a rise in automotive manufacturing is anticipated to drive market growth over the forecast period.”

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