René Muschter
Research Expert covering Industry & Mobility
Global platinum mining industry - statistics & facts
Platinum is a gray-white colored precious metal. It has many important applications, most notably for autocatalysts, jewelry, and chemicals, in addition to several other industries that use platinum to a lesser degree. Automotive applications accounted for over 44 percent of global platinum demand as of 2024, making it by far the largest application. Platinum is highly resistant to corrosion, among other desirable traits, and thus its value is somewhat comparable to gold. For instance, platinum's average price as of May 2025 was 971 U.S. dollars per troy ounce, while the average price of gold in that month was 3,280.51 U.S. dollars per ounce.
