In 2023, the UK import of platinum unwrought or in powder form was at 212.5 thousand kilograms. The forecast for 2024 shows a projected import value of 219.88 thousand kilograms, marking a year-on-year growth of 3.47%. By 2025, imports are expected to reach 228.9 thousand kilograms, a further 4.1% increase. This trend continues with expected imports rising to 237.75 thousand kilograms in 2026, 246.41 thousand kilograms in 2027, and reaching 254.9 thousand kilograms by 2028, showing consistent growth trends year-over-year. Over the five-year period, the compound annual growth rate (CAGR) is approximately 3.66%, indicating steady growth in platinum imports.
Future trends to watch for in the import of platinum include:
- Potential impacts of policy changes on trade tariffs and import regulations.
- Fluctuations in global platinum prices and their effect on import volumes.
- Technological advancements affecting demand in industries using platinum, such as automotive and electronics.
- Environmental policies and their influence on the usage of platinum in catalytic converters and other applications.
