Eastern Europe: Platinum Market 2024

Platinum Market Size in Eastern Europe

The East European platinum market fell to $X.8B in 2022, therefore, remained relatively stable against the previous year. Over the period under review, consumption continues to indicate a pronounced curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Platinum Production in Eastern Europe

In value terms, platinum production fell modestly to $X in 2022 estimated in export price. In general, production recorded a deep contraction. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. The level of production peaked at $X.9B in 2012; however, from 2013 to 2022, production failed to regain momentum.

Platinum Exports

Exports in Eastern Europe

After two years of growth, overseas shipments of platinum decreased by X% to X tons in 2022. Over the period under review, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons, and then contracted notably in the following year.

In value terms, platinum exports declined remarkably to $X in 2022. Overall, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2021, and then shrank significantly in the following year.

Exports by Country

In 2022, Russia (X tons) represented the largest exporter of platinum, mixing up X% of total exports. Poland (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by the Czech Republic (X%).

Russia was also the fastest-growing in terms of the platinum exports, with a CAGR of X% from 2012 to 2022. Poland (X%) and the Czech Republic (X%) illustrated a downward trend over the same period. While the share of Russia (X p.p.) and Poland (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the Czech Republic (X p.p.) displayed negative dynamics.

In value terms, Russia ($X) remains the largest platinum supplier in Eastern Europe, comprising X% of total exports. The second position in the ranking was held by the Czech Republic ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Russia totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: the Czech Republic (X% per year) and Poland (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per kg, picking up by X% against the previous year. Over the period under review, the export price saw a prominent expansion. The most prominent rate of growth was recorded in 2015 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per kg in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Russia ($X per kg), while Poland ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (X%), while the other leaders experienced a decline in the export price figures.

Platinum Imports

Imports in Eastern Europe

For the fifth year in a row, Eastern Europe recorded decline in overseas purchases of platinum, which decreased by X% to X tons in 2022. Overall, imports continue to indicate a significant curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by X%. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, platinum imports reduced remarkably to $X in 2022. In general, imports, however, posted a mild increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then shrank sharply in the following year.

Imports by Country

Poland represented the major importing country with an import of around X tons, which finished at X% of total imports. The Czech Republic (X tons) ranks second in terms of the total imports with a X% share, followed by Lithuania (X%), Belarus (X%) and Slovakia (X%). The following importers - Bulgaria (X kg) and Hungary (X kg) - each recorded a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to platinum imports into Poland stood at X%. At the same time, Lithuania (X%), Belarus (X%), Bulgaria (X%) and Hungary (X%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of X% from 2012-2022. By contrast, the Czech Republic (X%) and Slovakia (X%) illustrated a downward trend over the same period. While the share of Poland (X p.p.), Lithuania (X p.p.), Belarus (X p.p.), the Czech Republic (X p.p.), Bulgaria (X p.p.) and Hungary (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Slovakia (X p.p.) displayed negative dynamics.

In value terms, Poland ($X) constitutes the largest market for imported platinum in Eastern Europe, comprising X% of total imports. The second position in the ranking was held by Belarus ($X), with a X% share of total imports. It was followed by the Czech Republic, with a X% share.

In Poland, platinum imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Belarus (X% per year) and the Czech Republic (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per kg, with an increase of X% against the previous year. Over the period under review, the import price showed significant growth. The most prominent rate of growth was recorded in 2014 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Poland ($X per kg), while Slovakia ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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