Changes In Demand By Category, 2023 vs. 2024f

Source: Metals Focus Prepared For World Pt Investment Council

The chart provides a comparative analysis of platinum demand across various sectors for the year 2023 and the forecasted year 2024. It highlights the changes in demand measured in thousands of ounces (koz) for categories such as Automotive, Jewellery, Chemical, Petroleum, Electrical, Glass, Medical, Hydrogen, Other, and Investment. In 2023, the chart shows specific changes in demand for each category, with notable increases in sectors like Automotive (+102 koz) and Jewellery (+150 koz), and decreases in areas such as Investment (-49 koz) and Other (-4 koz). The forecast for 2024 suggests further shifts, with Industrial Demand expected to see changes as indicated by the +1 koz figure. This data is essential for industry stakeholders to understand the evolving demand dynamics across different sectors. It helps in identifying growth areas and potential declines, enabling better strategic planning and resource allocation. The chart underscores the importance of monitoring sector-specific trends to anticipate market movements and make informed decisions in the platinum industry.