Pre-order Enquiry
Request Free Sample
Healthcare
Aerospace & Defence
Agriculture
Automations
Chemicals & Advanced Materials
Food & Beverages
Information & Communication Technology
Oil & Gas
Power & Energy
According to the latest research, the global Palladium Sponge market size was valued at USD 17986.78 million in 2022 and is expected to expand at a CAGR of 3.17% during the forecast period, reaching USD 21688.78 million by 2028.
Palladium is a chemical element named after the asteroid Pallas. It is denoted with atomic number 46 and the symbol ‘Pd.’ Palladium is lustrous silvery-white metal and is rarely found. Palladium sponge is gray sponge-like, chemically stable, difficult to corrode, has high-temperature resistance, has good thermoelectric performance, and good plasticity. Palladium sponge is a high purity, coarse powdered, or granular form of palladium metal with high porosity. Palladium sponge has a wide variety of uses including functioning as an oxygen getter and catalyst. It is widely used in the chemical industry, automotive catalyst industry, and electronics industry.
Palladium Sponge Industry Trends
The increase in palladium sponge usage in auto catalysts came in the wake of tougher environmental requirements. With environmental concerns and carbon footprint being among the top priorities while manufacturing vehicle exhausts, palladium sponge catalysts reduce as much as 90% of the harmful gases released by converting them to less noxious substances, making catalytic converters of utmost importance. The higher platinum group metals (PGMs) loadings per vehicle were mostly driven by tougher regulations on pollutant emissions, including the Worldwide Harmonised Light Vehicle Test Procedure (WLTP) – a new procedure for testing cars’ emissions that took effect in the EU and Japan in September and October 2019, respectively. WLTP is designed to make tests more rigorous by extending their distance and duration, increasing the car weight, requiring faster acceleration, and stipulating that testing should be performed at different altitudes and temperatures. The Real Driving Emissions (RDE) test in the EU is another recently introduced regulation, in effect as of September 2019. These developments forced automakers to implement more sophisticated exhaust treatment systems and use more PGMs per catalytic converter. In China, the marked increase of palladium usage in auto catalysts came in the wake of tougher environmental requirements as part of the China 6b rollout across the country starting from 2019. The China 6b standard is based on best practices in emission control as developed in the USA and the EU, and sets out certain additional requirements.
Palladium Sponge Market Drivers
Demand for palladium sponge continues to rise, driven primarily by the growing global automotive sector. Palladium sponge is a key component in catalytic converters in both gasoline-powered and hybrid vehicles, which help reduce toxic emissions to protect the environment. Palladium sponge in particular has been in high demand in recent years thanks to tightening limits globally on harmful emissions from cars. Palladium sponge goes into catalytic converters that reduce noxious substances in exhaust fumes from gasoline-powered cars. Exhaust treatment systems account for the bulk of total palladium sponge consumption. In this sector, palladium sponge is used in catalytic converters to detoxify exhaust fumes. In most countries, such converters are legally required to be installed on all motor vehicles.
Market Challenges
The Russian-Ukrainian War could impact trade in palladium sponge, a rare metal which is very useful in car manufacturing and is mainly exported by Russia. At the moment there are no sanctions in place for the Russian minerals market. But other sanctions are affecting the market: the logistics for their delivery are disrupted, and the suspension of the SWIFT system for many banks is slowing down trade. These disruptions are having an impact on prices. The body that oversees London’s palladium sponge and platinum market said Friday it would bar metal produced by two major refining companies owned by the Russian government. Prices for the palladium sponge soared on the move.
Region Overview:
From 2022-2027, North America is estimated to witness robust growth prospects.
Company Overview:
Nornickel is one of the major players operating in the Palladium Sponge market, holding a share of 29.02% in 2022.
Nornickel is Russia’s leading metals and mining company, No. 1 manufacturer of palladium and refined nickel, and one of the biggest platinum and copper producers. The Group also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium, and sulphur. The Nornickel Group’s core operations are prospecting, exploration, mining, concentration and processing of minerals along with the production, marketing and sales of non-ferrous and precious metals. The products are supplied to over 30 countries. The Russian-Ukrainian war has led to a ban on the company's products in some countries in Europe and the United States.
Anglo American Platinum Limited is the world's largest primary producer of platinum. Based in South Africa, most of the group's operations lie to the northwest and northeast of Johannesburg. A majority of the company's operations take place in the Bushveld Igneous Complex, a large region that contains a range of mineral commodities including chromium, vanadium, titaniferous magnetite and platinum group metals.
Segmentation Overview:
Among different product types, ≤99.95% segment is anticipated to contribute the largest market share in 2027.
Application Overview:
By application, the Automotive Catalyst segment occupied the biggest share from 2017 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the Palladium Sponge industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Palladium Sponge. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Palladium Sponge Market Report Include:
Market Size Estimates: Palladium Sponge market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Palladium Sponge market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Palladium Sponge market
Segment Market Analysis: Palladium Sponge market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Palladium Sponge market situations and prospects in major and top regions and countries
Palladium Sponge Market
Palladium Sponge Industry Chain: Palladium Sponge market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Palladium Sponge Industry News, Policies by regions
Palladium Sponge Industry Porters Five Forces Analysis
Key players in the global Palladium Sponge market are covered in Chapter 2:
Nornickel
Northam Platinum
Impala Platinum
Heraeus
Umicore
Anglo American Platinum
Sibanye-Stillwate
Daye Nonferrous Metals Group
In Chapter 6 and Chapter 9, on the basis of types, the Palladium Sponge market from 2018 to 2028 is primarily split into:
>99.99%
≤99.95%
In Chapter 7 and Chapter 10, on the basis of applications, the Palladium Sponge market from 2018 to 2028 covers:
Chemical Industry
Automotive Catalyst
Electronics Industry
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Palladium Sponge market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Palladium Sponge industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Palladium Sponge market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Palladium Sponge industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Palladium Sponge market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Palladium Sponge market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Palladium Sponge market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
2022
Palladium is a chemical element named after the asteroid Pallas. It is denoted with atomic number 46 and the symbol ‘Pd.’ Palladium is lustrous silvery-white metal and is rarely found. Palladium sponge is gray sponge-like, chemically stable, difficult to corrode, has high-temperature resistance, has good thermoelectric performance, and good plasticity. Palladium sponge is a high purity, coarse powdered, or granular form of palladium metal with high porosity. Palladium sponge has a wide variety of uses including functioning as an oxygen getter and catalyst. It is widely used in the chemical industry, automotive catalyst industry, and electronics industry.
Palladium Sponge Industry Trends
The increase in palladium sponge usage in auto catalysts came in the wake of tougher environmental requirements. With environmental concerns and carbon footprint being among the top priorities while manufacturing vehicle exhausts, palladium sponge catalysts reduce as much as 90% of the harmful gases released by converting them to less noxious substances, making catalytic converters of utmost importance. The higher platinum group metals (PGMs) loadings per vehicle were mostly driven by tougher regulations on pollutant emissions, including the Worldwide Harmonised Light Vehicle Test Procedure (WLTP) – a new procedure for testing cars’ emissions that took effect in the EU and Japan in September and October 2019, respectively. WLTP is designed to make tests more rigorous by extending their distance and duration, increasing the car weight, requiring faster acceleration, and stipulating that testing should be performed at different altitudes and temperatures. The Real Driving Emissions (RDE) test in the EU is another recently introduced regulation, in effect as of September 2019. These developments forced automakers to implement more sophisticated exhaust treatment systems and use more PGMs per catalytic converter. In China, the marked increase of palladium usage in auto catalysts came in the wake of tougher environmental requirements as part of the China 6b rollout across the country starting from 2019. The China 6b standard is based on best practices in emission control as developed in the USA and the EU, and sets out certain additional requirements.
Palladium Sponge Market Drivers
Demand for palladium sponge continues to rise, driven primarily by the growing global automotive sector. Palladium sponge is a key component in catalytic converters in both gasoline-powered and hybrid vehicles, which help reduce toxic emissions to protect the environment. Palladium sponge in particular has been in high demand in recent years thanks to tightening limits globally on harmful emissions from cars. Palladium sponge goes into catalytic converters that reduce noxious substances in exhaust fumes from gasoline-powered cars. Exhaust treatment systems account for the bulk of total palladium sponge consumption. In this sector, palladium sponge is used in catalytic converters to detoxify exhaust fumes. In most countries, such converters are legally required to be installed on all motor vehicles.
Market Challenges
The Russian-Ukrainian War could impact trade in palladium sponge, a rare metal which is very useful in car manufacturing and is mainly exported by Russia. At the moment there are no sanctions in place for the Russian minerals market. But other sanctions are affecting the market: the logistics for their delivery are disrupted, and the suspension of the SWIFT system for many banks is slowing down trade. These disruptions are having an impact on prices. The body that oversees London’s palladium sponge and platinum market said Friday it would bar metal produced by two major refining companies owned by the Russian government. Prices for the palladium sponge soared on the move.
Region Overview:
From 2022-2027, North America is estimated to witness robust growth prospects.
Company Overview:
Nornickel is one of the major players operating in the Palladium Sponge market, holding a share of 29.02% in 2022.
Nornickel is Russia’s leading metals and mining company, No. 1 manufacturer of palladium and refined nickel, and one of the biggest platinum and copper producers. The Group also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium, and sulphur. The Nornickel Group’s core operations are prospecting, exploration, mining, concentration and processing of minerals along with the production, marketing and sales of non-ferrous and precious metals. The products are supplied to over 30 countries. The Russian-Ukrainian war has led to a ban on the company's products in some countries in Europe and the United States.
Anglo American Platinum Limited is the world's largest primary producer of platinum. Based in South Africa, most of the group's operations lie to the northwest and northeast of Johannesburg. A majority of the company's operations take place in the Bushveld Igneous Complex, a large region that contains a range of mineral commodities including chromium, vanadium, titaniferous magnetite and platinum group metals.
Segmentation Overview:
Among different product types, ≤99.95% segment is anticipated to contribute the largest market share in 2027.
Application Overview:
By application, the Automotive Catalyst segment occupied the biggest share from 2017 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the Palladium Sponge industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Palladium Sponge. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Palladium Sponge Market Report Include:
Market Size Estimates: Palladium Sponge market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Palladium Sponge market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Palladium Sponge market
Segment Market Analysis: Palladium Sponge market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Palladium Sponge market situations and prospects in major and top regions and countries
Palladium Sponge Market
Competitive Landscape
and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product/service profile and recent development/updates, etc.Palladium Sponge Industry Chain: Palladium Sponge market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Palladium Sponge Industry News, Policies by regions
Palladium Sponge Industry Porters Five Forces Analysis
Key players in the global Palladium Sponge market are covered in Chapter 2:
Nornickel
Northam Platinum
Impala Platinum
Heraeus
Umicore
Anglo American Platinum
Sibanye-Stillwate
Daye Nonferrous Metals Group
In Chapter 6 and Chapter 9, on the basis of types, the Palladium Sponge market from 2018 to 2028 is primarily split into:
>99.99%
≤99.95%
In Chapter 7 and Chapter 10, on the basis of applications, the Palladium Sponge market from 2018 to 2028 covers:
Chemical Industry
Automotive Catalyst
Electronics Industry
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Palladium Sponge market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Palladium Sponge industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Palladium Sponge market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Palladium Sponge industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Palladium Sponge market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Palladium Sponge market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Palladium Sponge market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
Years considered for this report:
Historical Years:
2018-2022Base Year:
2022Estimated Year:
2023Forecast Period:
2023-2028Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
