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Global Palladium Market: Size and Trends with Impact of COVID-19 and Forecast up to 2028
The palladium primary supply can be subdivided based on its origin, including regions such as Russia, South Africa, North America, Zimbabwe, and others.
By: Daedal Research
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.
Further, key players in the Palladium market are:
Johnson Matthey PLC
Nornickel (Norilsk Nickel)
Anglo-American Platinum (Amplats)
Impala Platinum Holdings (Implats)
Palladium One Mining Inc.
Platinum Group Metals Ltd.
Eastern Platinum (Eastplats)
Strategic collaborations have become a hallmark of this industry. In April 2023, by acquiring onefourzero, the Palladium Group broadened its spectrum to encompass digital M&A consultancy services. Such companies not only shape the supply dynamics but also influence price trends, research, and technological advancements in the sector. Their influential positions emphasize the need for vigilance from regulatory bodies to ensure competitive practices and prevent market manipulation.
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