The PGM catalyst market sits where clean transport, industrial chemistry and the hydrogen economy meet. Catalysts built on platinum, palladium, rhodium, ruthenium and iridium convert harmful exhaust gases, speed up chemical reactions and help split water into hydrogen. According to the IG Transformation Partners report, the platinum group metal catalyst market was valued at USD 23.8 billion in 2025 and is projected to reach USD 34.5 billion by 2034, growing at a 4.2% CAGR from 2026 to 2034.
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