The platinum group metals (“PGMs”), including platinum, palladium and rhodium are poised for growth in 2025, driven by demand in the automotive, hydrogen-energy and industrial sectors. These positive projections bode well for companies operating in the space, including Platinum Group Metals (NYSE American: PLG) (TSX: PTM), majority owner and operator of the Waterberg PGM Project in South Africa.
Global initiatives to reduce carbon emissions, the rise of hybrid electric vehicles and advancements in hydrogen technologies are creating robust opportunities for these metals. The global platinum market is expected to grow at a compound annual growth rate (“CAGR”) of 4.5% from 2024 to 2033, increasing from a base market size of $7.10 billion in 2024 to $10.55 billion in 2033 (https://ibn.fm/TeNVb).
The automotive sector is expected to remain the largest consumer of PGMs, driven by their roles in catalytic converters and hydrogen fuel cell vehicles. Platinum plays a critical role in the hydrogen economy, particularly in fuel cell electric vehicles, where it acts as a key catalyst. Demand for platinum in hydrogen production and storage systems is expected to surge as countries accelerate green-energy transitions (https://ibn.fm/uLBCd).
A notable shift is forecast for palladium in 2025 as the substitution trend where palladium replaces platinum in autocatalysts is expected to reverse (https://nnw.fm/cEefj). This change could stabilize platinum demand while maintaining palladium’s importance in vehicle emissions control.
Platinum Group Metals, a company at the forefront of PGM exploration and development, is uniquely positioned to benefit from these favorable market trends. The company’s flagship Waterberg Project in South Africa is a large-scale resource designed to supply palladium, platinum, rhodium and gold as well as copper and nickel for the global markets.
The company is focused on advancing its Waterberg Project, which is expected to be a key low cost supplier of palladium and platinum. The project emphasizes sustainability and cost-efficiency, critical factors for ensuring long-term success in a competitive market. The company has also leveraged partnerships with stakeholders and regional governments to enhance the project’s development. This collaborative approach seeks alignment with local economic goals while supporting global PGM needs.
With a positive market outlook for platinum group metals in 2025, fueled by advancements in green energy and clean automotive technologies, Platinum Group Metals is well-positioned to play an important role. The company’s strategic focus on sustainable development and its Waterberg Project illustrate its preparations to meet growing global demand. As industries continue to prioritize decarbonization, the PGM sector is set to experience a transformative year, with both platinum and palladium leading the charge.
For more information, visit www.PlatinumGroupMetals.net.
NOTE TO INVESTORS: The latest news and updates relating to PLG are available in the company’s newsroom at https://ibn.fm/PLG
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