You are currently viewing Global Precious Metals Market Size to Grow at a CAGR of 4.54% in the Forecast Period of 2024-2032

Global Precious Metals Market Size to Grow at a CAGR of 4.54% in the Forecast Period of 2024-2032

The ‘Global Precious Metals Market Report and Forecast 2024-2032’ by Expert Market Research, gives an extensive outlook of the global precious metal market trends, assessing the market on the basis of its segments like type and major regions.

The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.

Precious Metals Market Share, Size, Price, Growth, Trends, Industry Report, Key Player, Major Segments and Forecast

The key highlights of the report include:

Market Overview (2018-2032)

Historical Market Size (2023): 42.76 KMT
Forecast CAGR (2024-2032): 4.54%
Forecast Market Size (2032): 54.44 KMT

The demand for precious metals, specifically silver is on a rise owing to the expanding mining operations and heightened recycling activities due to sustainability initiatives. Growing applications of precious metals in the solar installations and electronic devices are key factors that are driving the precious metals market. Due to its malleable, ductile, and anti-corrosive nature, silver is alloyed with zinc and copper and used in high-melting solders, which is a compelling factor for the surging demand for precious metals and the growth of this market.

Get a Free Sample Report with Table of Contents@ https://www.expertmarketresearch.com/reports/precious-metals-market/requestsample

Palladium, another precious metal, is increasingly being used to create dental inlays and other orthodontic devices, driven by the medical applications of the precious metals market.  Platinum and its alloys, owing to their thermos-electric properties, are widely utilised in the glass industry for the production of optical glass and cookware.

The expansion of cinema and entertainment industry has further induced the demand for precious metals like silver, as it is an important component of the photography sector, as well as for gold, which is increasingly being used for making jewellery. Silver precious metals are likely to witness a steep demand due to the low cost of silver in comparison to its counterparts and its widening electronic applications, which is anticipated to further bolster the precious metals market.

Precious Metals Industry Definition and Major Segments

Precious metals are naturally occurring metals that are rare, have a high economic value, high lustre, and lower reactivity. These metals easily mix with other metals to make stronger alloys in order to improve the properties of the final product. These metals are often sought after particularly as a hedge against inflation and in case of financial uncertainties.

Read Full Report with Table of Contents@ https://www.expertmarketresearch.com/reports/precious-metals-market

On the basis of type, the market is classified into:

  • Gold
    • Breakup by end use
      • Jewellery
      • Electronics
      • Coins and Medals
      • Investment
      • Others
  • Silver
    • Breakup by end use
      • Jewellery
      • Electric and Electronics
      • Coins and Medals
      • Investment
      • Photography
      • Silverware
      • Others
  • Palladium
    • Breakup by end use
      • Electric and Electronics
      • Automotive
      • Medical Applications
      • Jewellery
      • Others
  • Platinum
    • Breakup by end use
      • Chemical Processing
      • Jewellery
      • Electric and Electronics
      • Automotive
      • Medical Applications
      • Others
  • Rhodium
    • Breakup by end use
      • Automotive
      • Glass Production
      • Electric and Electronics
      • Others

Based on region, the market is classified into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Precious Metals Market Trends

The growing usage of precious metals like platinum, rhodium, and palladium in the automotive industry as a catalytic convertor for the purpose of reducing harmful emissions is a key trend of this market. Furthermore, the growing importance of gold in wedding ceremonies has further provided lucrative opportunities to jewellery market vendors and augmented the growth of the precious metals market. Due to the catalytic properties of platinum, it is increasingly being used for cleaning up air pollution in line with the growing need for sustainability around the world.

With rising disposable incomes, investment activities are surging and the demand for precious metals like silver and gold is on a rise. Thus, a sizeable population is investing in the ownership of minted coins and bars and purchasing shares of companies associated with the exploration of precious metals. In line with growing environmental concerns, various market players are investing in recycling these metals and eventually using them to manufacture heart pacemakers and cochlea, thus leading to the growth of the precious metals market.

Key Market Players

The major players in the global precious metals market report are:

  • Anglo American Plc
  • Southern Copper Corporation
  • Newmont Corporation
  • Northam Platinum Holdings Limited
  • Newcrest Mining Limited
  • Kinross Gold Corporation
  • Others

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

Read More Reports:

Hops Market: https://www.expertmarketresearch.com/reports/hops-market

Food Binders Market: https://www.expertmarketresearch.com/reports/food-binders-market

Generator Sales Market: https://www.expertmarketresearch.com/reports/generator-sales-market

CRISPR Technology Market: https://www.expertmarketresearch.com/reports/crispr-technology-market

Brain Tumor Treatment Market: https://www.expertmarketresearch.com/reports/brain-tumor-treatment-market

About Us:

Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

Media Contact:

Company Name: Claight Corporation
Contact Person: Steven Luke, Corporate Sales Specialist – U.S.A.
Email: sales@expertmarketresearch.com
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gloud Street, Sheridan, WY 82801, USA
Website: https://www.expertmarketresearch.com

Expert Market Research

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally. At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.