Precious Metals Forecast Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2027
Market Segmentation The global precious metal catalysts market is segmented by type, application, and region. On the basis of the type, the market is segregated into platinum, palladium, ruthenium, rhodium, iridium, rhenium, gold, silver, nickel, and others. The platinum is the most preferred type of precious metal due to strong electrical stability, chemical resistance, and corrosion resistance. It is widely used in crude oil refining and aromatic compounds production. Palladium metal consumption is increasing in the automotive industry owing to resistance to high temperature and sulfur poisoning. Palladium is also used in the hydrogenation of unsaturated hydrocarbon, jewelry, and dental fillings. Based on the application, the global precious metals forecast Market is segmented into automotive, refining, pharmaceuticals, petrochemicals, oil, mining, electronics, and others. The automotive segment accounted for the largest market share in the precious metal catalysts as a resul