https://www.engineeringnews.co.za

Global platinum production to rise marginally to 2020

22nd December 2016

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Global platinum mine or metal content in ore production is set to rise from 6.4-million ounces in 2015 to 6.7-million ounces by 2020, representing a compound annual growth rate (CAGR) of 1.7%, the latest report from research and consulting firm GlobalData reveals.

GlobalData mining research and analysis head Cliff Smee explained that there were a number of factors affecting demand for platinum. According to GlobalData, 42.1%, or 3.9-million ounces of platinum, will be consumed in production of autocatalysts in 2020, followed by its use in jewellery, with 3.3-million ounces, and the remaining 2.1-million ounces for uses such as industrial applications.”

China is the largest consumer of platinum, accounting for 28% of global platinum consumption in 2015, followed by Europe with 27%, while Japan and North America account for 14% each.

“As demand for automobiles increases, harmful vehicle emissions will also rise, which needs to be regulated. For instance, Japan has amended the vehicle emission rules, promoting the use of platinum to curtail environmental pollution,” Smee said.

Further, the enforcement of Euro 6 Emission Standards in Europe to curb harmful emissions will drive demand for platinum as a catalyst in automobiles’ exhaust systems. Adoption of similar standards in other developed countries such as the UK, Canada and Australia should continue to support demand.

“The regulation will be implemented for vehicles registered from 2015, promoting the usage of platinum as an autocatalyst. During the forecast period, autocatalyst consumption is expected to rise at a CAGR of 1.8%,” he added.

Edited by Creamer Media Reporter

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.084 0.141s - 156pq - 2rq
Subscribe Now