Palladium - Procurement Best Practices & Sourcing Strategies

Procurement Market Intelligence Report

Palladium – Procurement Best Practices & Sourcing Strategies

Palladium Market – Executive Summary, Market Analysis, Cost and Pricing Analysis, Supplier Analysis

1. Executive Summary
1.1. Regional Outlook
1.2. Supply Market Outlook
1.3. Demand Market Outlook
1.4. ELINT’s Recommendation
1.5. Category Opportunities & Risks
1.6. Negotiation Leverage
1.7. Talking points
2. Market Analysis
2.1. Market Overview
2.2. End Use Analysis
2.3. Regional Market Analysis
2.4. Drivers & Constraints
2.5. Porter’s Five Forces Analysis
2.6. LCCS Analysis
2.7. Sourcing Models
2.8. Negotiating Levers
3. Cost and Pricing Analysis
3.1. Cost Structure Analysis
3.2. Commodity Price Forecast
3.3. Cost Analysis and Expected Savings
4. Supplier Analysis
4.1. Key Suppliers & Capabilities
4.2. Global Supplier
4.3. SWOT Analysis
4.4. Support Questions for RFP Process

  1. Which are the key end-user sectors of the global palladium market?

Healthcare, automobile, chemical, electrical devices, petrochemicals, power generation, and aerospace are the major end-user sectors of palladium goods.


  1. What are the impactful cost components in the palladium sector?

Mining and refining operations expenses are the major and impactful cost components that function in the global palladium industry.


  1. What are the major growth driving factors in the global palladium market?

Rising demands from the automotive and chemical industries and expansion in urbanization are major growth-driving factors for the international palladium sector.


Palladium Market Global Size:

As per ELINT Market Research, an immense surge has been caught in the demand for common and sophisticated electronic products like washing machines, cellphones, TVs, laptops, etc. due to the rise in financial freedom, growing populations, and urbanization. Thus, this electronic goods sector proliferation contributed to the global palladium market since palladium-based MLCCs (multi-layer ceramic capacitors) help to store energy in electronic devices. Further, this procurement market research report calculated a global supply of 6,909 Koz and a gross demand of 9861 Koz in 2023 for the palladium industry. Also, this compound’s impressive physical and chemical properties made it a vital part of today’s worldwide businesses, which is expected to cause an expansion in its global demand at a CAGR of 2-4 percent by 2025.

Market Definition:

Palladium is a versatile member of the platinum group of elements, which is recovered from nickel as a derivative, and needs further refinement that can be done using extremely complex infrastructures. Palladium has multiple applications in different domains such as it used as the key metal in jewelry, improving metallic shine & reducing corrosion, and creating exhaust gas catalysts for reducing dangerous vehicle emissions. Furthermore, palladium is also used in electronic apparatus, dental supplies, and chemical procedures. Thus, it is anticipated that these factors will yield profitable prospects for the future growth of the palladium industry.

Palladium Market Drivers:

  1. Rise in Urbanization –

A constant acceleration in urbanization encouraged people to move from rural to urban places, which caused a demand for the development of diverse transportation, residential, and commercial infrastructures. This trend majorly influences the production and consumption of palladium goods, which can assist in urban infrastructure projects. For example, palladium-based catalytic converters help individuals and organizations adhere to governmental environment safety regulations to reduce carbon count and improve air quality. Thus, the international palladium sector is experiencing ongoing development with rising urbanization.


  1. Demands from Automotive and Chemical Industries –

The automotive sector employs palladium as the main component in catalytic converters to decrease the impacts of greenhouse gases and prevent air pollution. Therefore, this reason propels the requirement for palladium in automobile manufacturing companies, which aim to be compliant with government regulations. Moreover, the chemical industry also utilizes palladium to execute the hydrogenation process, where it plays the role of catalyst to manufacture different chemicals. Consequently, the palladium market is expanding due to the chemical sector’s need to produce end products.

Palladium Market Challenges:

  1. Elevated Production Costs –

Manufacturing of versatile palladium products depends on its smooth extraction from mine which is typically a complex and expensive method. This aspect causes challenges for global palladium market payers since they are required to invest in deep mining procedures using refined extraction tools.


  1. Adoption of Electrical Vehicles –

An extension trend of adopting electrical vehicles in place of standard ones also drives the challenge for global palladium procurement market intelligence companies since EVs are considered as environmentally friendly automobile solutions compared to petrol and diesel vehicles. Further, as palladium is a key complement to building catalytic converters that prevent air pollution, the less production of petrol-based vehicles causes palladium goods manufacturers in trouble.

Palladium Market Opportunities:

  1. Increase in Palladium Loadings in Gasoline Vehicles –

The need for palladium loadings in gasoline vehicles is increasing due to governmental rules for environmental safety and lowering carbon emissions, which pose great opportunities for palladium-producing companies. Further, higher levels of loadings of palladium in catalytic converters can improve vehicle performance and execute sophisticated emission control.


  1. Constant Adoption of Fuel Cell Technology –

Automotive and energy sectors primarily employ fuel technology which demands palladium goods to function as catalysts and generate electricity. Thus, as the adoption of fuel cell vehicles compared to conventional engine vehicles is expanding, palladium-producing businesses encounter various opportunities in the international market.

Palladium Market Segmentation:

  1. Types of Applications –

The foremost segmentation factor for the global palladium market is its applications in diverse domains which include catalytic converters, multilayer ceramic capacitors (MLCCs), jewelry, hydrogenation operations, dehydrogenation chemical reactions, and more.


  1. Various End User Industries –

Types of various end-user industry segmentation factors help palladium manufacturing organizations build products according to each industry’s particular needs. These key sectors include automotive, chemical, electronics, petrochemicals,            medicine, energy, aerospace, etc.

Types of Pricing Models in the Palladium Market:

The global palladium procurement intelligence market comprises prominent pricing mechanisms that help stakeholders adapt depending on market dynamics and raise profitability. Hence, one of the major pricing models is a combination of base price and adjusted costs clause, which depend on raw material expenses. This clause helps suppliers and their customers to flexibly optimize pricing layout according to market conditions and shifting raw material expenditures.

Regional Outlook for the Palladium Market:

The geographical picture of the global palladium industry exhibits a few of the notable countries that occurred as suppliers of palladium and hold significant shares. These provinces include Russia with 40%, South Africa with 37%, North America with 13%. Furthermore, this procurement report evaluated a high supplier power and lower buyer power for the palladium sector, which signifies the dominant position of suppliers in the international market.


Moreover, North America experienced a 6% reduction in palladium product prices in the second quarter of 2023 when compared to the first quarter. This decrease occurred due to key factors like raw material price fluctuations and geopolitical tensions.

Impactful Cost Components in the Palladium Market:

Mining & smelting procedures and refining emerge as the substantial and impactful cost components in the global palladium market which holds 44% and 8% stakes respectively. Thus, palladium manufacturing firms need to keep track of these components and optimize costs depending on market dynamics.

Contract Models in the Palladium Market:

Spot agreement is an airing contract model in the international palladium market which assists stakeholders execute transactions depending on metal exchanges. Also, this is a flexible agreement procedure that can be made instantly between buyers and sellers. On the other hand, short to medium-length contracts help palladium goods suppliers and consumers to partner for briefer and moderate durations.


Key Palladium Procurement Market Intelligence Companies:

Several prominent entities at the forefront of the global palladium market comprise Matsuda​, Hindustan Platinum​, Jinchuan​, LS-Nikko Copper Inc.​, Sumitomo Metal Mining, Asahi Holding, Anglo American​, Impala Platinum​, Sibanye Stillwater​, Northam Platinum, African Rainbow Minerals​, Sylvania Platinum Limited​, D.F. Goldsmith Chemical & Metal​, Heraeus Precious Metals North America LLC, Metalor Technologies USA​, Sibanye Stillwater (USA)​, Glencore Canada​, Norilsk Nickel​, Metalor Technologies​, Agosi​, Heraeus Precious Metals GmbH​, JSC Krastsvetmet​, Birmingham Metal​, Johnson Matthey, JSC Moscow Special Alloys Plant​.

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