Germany Platinum Market

germany’s platinum market outlook for 2018 through 2032 is positive as platinum has a wide range of applications and uses and is in high demand due to its resistance to corrosion, heat, and pressure. platinum’s recyclability and non-toxicity also add to its appeal, making it a preferred material for industrial applications. platinum is a precious metal, and its price is volatile and can increase or decrease depending on specific market conditions. global demand for platinum has increased in the past decade, and in 2017 demand for industrial applications was higher than ever before. industrial uses account for roughly half of global demand for platinum. in this sector, auto-catalyst and chemical uses account for a large share of platinum demand. this is because platinum works as a catalyst in the automobile industry and is a key component in the production of petroleum, organophosphate, and chlorinated hydrocarbons. in germany, platinum demand is also driven by industrial applications. usage of platinum for industrial applications in the automotive sector is increasing due to increased safety requirements, as well as rising demand for electric vehicles. this is resulting in increased demand for components which require the use of platinum, such as batteries and fuel-cells. the use of platinum for jewellery is also rising in germany, as it is becoming increasingly popular as an alternative to traditional yellow gold or white gold. despite volatile conditions in the global economy, the outlook for germany’s platinum market remains strong. demand for platinum is expected to remain consistent in the next fourteen years, so long as global industrial production remains strong. the use of platinum for jewellery is also expected to drive increased demand as well. as long as global economic conditions remain stable, and demand for industrial applications of platinum continue to rise, the german platinum market should remain strong for at least the next fourteen years.