PUBLISHER: Grand View Research | PRODUCT CODE: 1575284
PUBLISHER: Grand View Research | PRODUCT CODE: 1575284
"2030 palladium market value to reach USD 15.17 billion."
The global palladium market size was estimated at USD 14.06 billion in 2023 and is projected to grow at a CAGR of 4.5% from 2024 to 2030. The demand for palladium is likely to benefit from increased automotive demand coupled with stricter vehicle emission standards. Palladium is a critical component in the manufacturing of catalytic converters, a device used to convert harmful gases from car exhausts into less harmful substances.
As the global automotive sector expands, the demand for catalytic converters is anticipated to grow. Moreover, a focus on lightweight vehicles and electric vehicles is anticipated to benefit the demand for palladium over the coming years.
Global Palladium Market Report Segmentation
This report forecasts revenue and volume growth at global, country, and regional levels and analyzes the latest trends in each sub-segment from 2018 to 2030. For this study, Grand View Research has segmented the global palladium market report based on application, and region: