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South African Market for Platinum-group Metals Process Mining Chemicals
Frost & Sullivan, Feb 2010, Pages: 108
This research service focuses on the South African Platinum Group Metals (PGMs) mining process chemicals market. An analysis is conducted into the total overall market dynamics including a specific breakdown into the various products segments within this market. Drivers, restraints and challenges for the PGM mining chemicals market are reviewed in light of the South African context. Growth trends, forecasts and market share rankings are presented as part of this service. An opportunity analysis is included based on the primary PGM end-user applications industries.
This Frost & Sullivan research service titled South African Market for Platinum-group Metals Process Mining Chemicals provides insights into the industry challenges, market drivers and restraints and determines their impact on the future market demand for platinum-group metals (PGMs) process mining chemicals. This research service also assesses the competitive structure and distribution channels and identifies the key success factors for suppliers. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets by metal type: platinum, rhodium, palladium, ruthenium, and iridium. The end-user industries covered in this research are jewellery, automobile, jet engines, electronics, and investment.
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Market Overview
The South African Market for PGMs Process Mining Chemicals Set to Slowly Regain its Growth and Stability
PGM pricing volatility and a severely declining demand profile due to the global economic slump in 2008 had severely affected growth and stability in the South African market for PGM mining chemicals. Demand side factors had also resulted in lower PGM production stimulus. Globally, PGM inventories rose due to reduced demand within the automobile sector, which is the largest driver of PGM production. However, the international automobile markets are experiencing marginal recoveries – with the Chinese market leading global growth. Furthermore, jewellery and other demand-side factors have boosted production requirements and aided in stabilising the PGM mining industry.
The PGM mining chemicals industry is expected to regain its growth, albeit at a slower rate, as the global economies start to recover and continued urbanisation and consumerism drive the demand for the rare resources represented within the PGM. South Africa continues to deliver almost 80.0 per cent of the global PGM supply. “The primary driver within the PGM mining chemicals market is the underlying PGM catalytic converter demand factor,” says the analyst of this research. “The local PGM mining chemicals industry is expected to stabilise and re-establish consistent revenue streams in the medium to long-term.”
Future Growth in the PGM Mining Industry to be Driven by Capacity Expansion of Existing Mines and the Establishment of New Mines
The South African mining industry is plagued by various hindrances to productive efficiencies such as industrial action, low levels of critical expertise and safety concerns. Electrical supply, weather conditions and other external factors have resulted in smelter shutdowns, hindering the local mine industry and resulting in mediocre levels of productivity in PGM processing as well as reduced usage of the associated mining chemicals. Additionally, restrictions to productive mining operations negatively affect the use of PGM mining chemicals.
There is very little scope for new market entrants due to the established infrastructure being leveraged by participants in the various PGM process mining chemical product segments. Therefore, opportunities in the PGM process mining chemicals market are accessible only to those participants that have established facilities in proximity to the major mining operations in the local market. “Future growth in the PGM mining industry will be driven by capacity expansion of existing mines and the establishment of new mines in response to new technological developments and other end-user industry-related drivers,” concludes the analyst.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By Metal Type:
- Platinum
- Rhodium
- Palladium
- Ruthenium
- Iridium
By End-user Industry:
- Jewellery
- Automobile
- Jet engines
- Electronics
- Investment
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