Russia’s Nornickel, the world’s largest palladium producer, forecasts rising demand from China’s fibreglass sector, offsetting expected declines from automotive applications.
The company estimates China’s fibreglass industry could consume up to 0.8 million ounces annually over the medium term, creating a significant new demand channel.
Nornickel, responsible for roughly 40% of global supply, is expanding palladium’s industrial use beyond autocatalysts, which currently dominate consumption.
China purchased 20,000 ounces last year to test palladium in glass production, with successful 300-day industrial trials encouraging further adoption.
Large-scale testing is scheduled for April 2026, as manufacturers increasingly shift from platinum to palladium-based solutions in production processes.
Globally, glass industry demand could reach up to 2 million ounces, according to company projections, strengthening palladium’s long-term outlook.
Nornickel is investing $100 million to generate approximately 1.7 million ounces of new annual demand by 2030 through diversified applications.
The company also expects emerging demand in electrochemistry, particularly for anodes in water treatment, supporting a balanced market outlook in coming years.
