Report Update: Apr 1, 2024

Hong Kong SAR, China - Platinum - Market Analysis, Forecast, Size, Trends And Insights

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Platinum Price in Hong Kong SAR - 2023

Platinum Price in Hong Kong SAR (CIF) - 2022

In 2022, the average platinum import price amounted to $30,628,982 per ton, falling by -11.9% against the previous year. In general, the import price showed a perceptible reduction. The pace of growth was the most pronounced in 2021 an increase of 24%. The import price peaked at $48,870,441 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were South Africa ($31,920,667 per ton) and Japan ($30,627,797 per ton), while the price for the United States ($29,582,595 per ton) and the UK ($29,955,558 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Platinum Price in Hong Kong SAR (FOB) - 2023

The average platinum export price stood at $32.1M per ton in June 2023, with a decrease of -6% against the previous month. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in January 2023 an increase of 8.1% month-to-month. Over the period under review, the average export prices attained the maximum at $34.1M per ton in May 2023, and then contracted in the following month.

Average prices varied noticeably for the major export markets. In June 2023, the country with the highest price was Switzerland ($32.3M per ton), while the average price for exports to China amounted to $32.1M per ton.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+0.3%).

Platinum Imports in Hong Kong SAR

In 2022, overseas purchases of platinum decreased by -6.7% to 53 tons for the first time since 2018, thus ending a three-year rising trend. In general, total imports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +13.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +44.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 30%.

In value terms, platinum imports reduced notably to $1.6B in 2022. Over the period under review, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +17.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +63.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 48%. As a result, imports attained the peak of $2B, and then fell sharply in the following year.

Import of Platinum in Hong Kong SAR (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United Kingdom	341	532	578	539	16.5%
South Africa	329	334	722	378	4.7%
Japan	199	159	242	235	5.7%
Switzerland	20.1	98.8	220	212	119.3%
Russia	14.8	11.6	43.9	92.4	84.1%
United States	2.4	15.7	45.0	78.3	219.5%
Others	80.6	173	109	74.7	-2.5%
Total	987	1,323	1,960	1,610	17.7%

Top Suppliers of Platinum to Hong Kong SAR in 2022:

United Kingdom (18.0 tons)
South Africa (11.8 tons)
Japan (7.7 tons)
Switzerland (7.0 tons)
Russia (3.1 tons)
United States (2.6 tons)

Platinum Exports in Hong Kong SAR

In 2022, shipments abroad of platinum decreased by -11.9% to 45 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total exports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +20.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +73.1% against 2019 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 65% against the previous year.

In value terms, platinum exports reduced remarkably to $1.4B in 2022. In general, exports, however, saw significant growth. The pace of growth was the most pronounced in 2020 with an increase of 66%.

Export of Platinum in Hong Kong SAR (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	672	1,128	1,533	1,117	18.5%
Switzerland	14.6	20.2	245	85.6	80.3%
United Kingdom	16.1	2.2	1.9	55.4	51.0%
United Arab Emirates	0.3	0.1	0.9	23.2	326.0%
Others	14.4	37.9	32.6	71.4	70.5%
Total	718	1,188	1,814	1,353	23.5%

Top Export Markets for Platinum from Hong Kong SAR in 2022:

China (36.9 tons)
Switzerland (2.8 tons)
United Kingdom (1.8 tons)
United Arab Emirates (0.9 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the platinum market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24413010 -
Prodcom 24413015 -
Prodcom 24413020 -
Prodcom 24413025 -
Prodcom 24413040 -
Prodcom 24413045 -
Prodcom 24413055 -
Prodcom 24413060 -
Prodcom 24413065 -
Prodcom 24413070 - Platinum catalysts in the form of wire cloth or grill
Prodcom 24413030 - Platinum, palladium, rhodium, iridium, osmium and ruthenium, unwrought or in powder form
Prodcom 24413050 - Platinum, palladium, rhodium, iridium, osmium and ruthenium, in semi-manufactured forms (excluding unwrought or in powder form)

Country coverage:

Hong Kong SAR

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hong Kong SAR, China
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023