What is Platinum Jewelry Market?
Platinum is one of the most precious jewelry metals due to its strength and purity. Platinum’s natural color is silver-white. Platinum jewelry generally mixed with similar metals or other base metals. Hence, the higher the percentage of pure platinum, the higher the price of the jewelry. The platinum jewelry market is growing owing to changing lifestyle standards and rising disposable income in the developing countries. Further, increasing adoption of the as a platinum jewelry style statement among millennials expected to drive the platinum jewelry market over the forecasted period.
The market study is being classified by Type (Rings, Necklaces, Earrings, Bracelets and Others) and major geographies with country level break-up.
Harry Winston (United States), Société Cartier (France), Van Cleef & Arpels (France), Buccellati Holding Italia (Italy), Tiffany & Co. (United States), Graff (United Kingdom), Bulgari S.p.A (Italy), Piaget (Switzerland), Mikimoto America (United States), Chow Sang (Hong Kong), Asian Star Company (India), Forevermark Limited (United Kingdom) and Helzberg Diamonds (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Stuller Inc. (United States), Chow Tai Fook (Hong Kong) and Chopard (Switzerland).
Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Platinum Jewelry market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Platinum Jewelry market by Type, Application and Region.
On the basis of geography, the market of Platinum Jewelry has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Changing Style Statement Fueled By Rising Disposable Income.
- Emphasizing On Innovative Designs for Platinum Jewellery.
- Increasing Demand from Fashion Industry.
Market Trend
- Improved Lifestyle in Emerging Economies.
- Increasing Demand for Customized Platinum Jewellery.
Restraints
- High Cost of Platinum Jewellery.
- Fluctuating Raw Material Prizes.
Opportunities
- Increasing Disposable Income in Low and Middle-Income Countries.
- Growing Online Market for Platinum Jewellery and Rising Focus among Millennials.
Challenges
- Lack of Acceptance in Low and Middle Income Group People.
- Alternative Available such as Gold, Diamond, and Others.
“According to The Federal Trade Commission of the United States government, most platinum jewelry sold in the U.S. is 85% platinum and 15% other metals, either precious platinum group metals and/or base metals. Labels will look like this: 850Plat. = 85% pure platinum, 900Pt. = 90% pure platinum. For items containing between 50% and 85% pure platinum combined with other platinum group metals, marketers should state the amount of pure platinum and the amount of other platinum group metals. For example, 800 Pt. 200 Pd. = 80% pure platinum, 20% palladium, 750 Pt. 250 Rh. = 75% pure platinum, 25% rhodium, 600 Pt. 350 Ir. = 60% pure platinum, 35% iridium.”
Key Target Audience
Platinum Jewellery Manufacturers, Traders, Distributors, and Dealers, Regulatory and Research Organizations, Raw Material Producers, Suppliers, and Distributors, Potential Investors, Industry Associations and Others