How Much Platinum Is Recycled Each Year
Platinum recycling plays a big role in keeping the metal supply steady, as it comes from old car parts, jewelry, and industrial scraps. In 2025, experts project about 1,619 thousand ounces of platinum will be recycled worldwide, up 7 percent from the year before. This boost comes mainly from higher prices for platinum group metals, which encourage more people to recycle spent car catalysts and jewelry, especially in places like China (https://platinuminvestment.com/files/954835/WPIC_PR_PQ_Q3_2025_20251119.pdf).
Most recycled platinum starts in cars. Catalytic converters in exhaust systems use platinum to clean emissions, and with millions of vehicles scrapped each year, these become a key source. For example, around 27 million cars get scrapped globally every year, providing a steady flow of material from autocatalysts (https://www.interactivebrokers.com/campus/traders-insight/securities/commodities/why-a-structural-deficit-and-hydrogen-economy-could-boost-platinum/). In the third quarter of 2025 alone, recycling hit 400 thousand ounces, an 8 percent rise year-over-year, though it dipped a bit due to some U.S. tariff issues on spent catalysts (https://platinuminvestment.com/files/954835/WPIC_PR_PQ_Q3_2025_20251119.pdf).
Recycling helps offset shortages in new mining output. Mine production is expected to drop 5 percent to 5,510 thousand ounces in 2025, the lowest in five years, while total platinum supply falls to 7,129 thousand ounces. Even with recycling growth, demand stays strong at around 7,821 thousand ounces, creating a market deficit (https://platinuminvestment.com/files/954835/WPIC_PR_PQ_Q3_2025_20251119.pdf). Higher prices in 2025, which jumped over 80 percent, support this recycling uptick but have not yet pushed automotive scrap back to 2021 peaks (https://www.ipmi.org/ipmi-news).
Looking ahead, recycling should keep growing. Forecasts show it reaching 1,782 thousand ounces by some future years, helping balance supply as mine output inches up slowly. The automotive sector will remain the main driver, fueled by stricter emission rules and more vehicles hitting scrap age, though challenges like refinery limits can slow things down (https://platinuminvestment.com/files/954835/WPIC_PR_PQ_Q3_2025_20251119.pdf; https://www.imarcgroup.com/news/platinum-price-index).
Companies are investing more in recycling to meet demand from cars, hydrogen fuel cells, and other uses. This secondary supply cushions the overall platinum market, which faces ongoing deficits through at least 2029 (https://www.interactivebrokers.com/campus/traders-insight/securities/commodities/why-a-structural-deficit-and-hydrogen-economy-could-boost-platinum/; https://www.ipmi.org/ipmi-news).
Sources
https://platinuminvestment.com/files/954835/WPIC_PR_PQ_Q3_2025_20251119.pdf
https://www.interactivebrokers.com/campus/traders-insight/securities/commodities/why-a-structural-deficit-and-hydrogen-economy-could-boost-platinum/
https://www.ipmi.org/ipmi-news
https://www.imarcgroup.com/news/platinum-price-index
https://www.mordorintelligence.com/industry-reports/platinum-market
https://www.verifiedmarketresearch.com/product/catalytic-converter-recycling-market/
https://www.scottsdalemint.com/articles/2025/tds-ghali-says-platinum-setting-up-for-big-squeeze-now/