The global precious metals market will be driven by the growth of its end-use sectors during the forecast period 2021-2026

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Expert Market Research’s new report titled ‘Global Precious Metals Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global precious metals market, assessing the market based on its segments such as Types , end-use sectors, and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.

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Key highlights of the report include:

Market Overview (2016-2026)

  • Historical market size (2020): 33,139 MT
  • Forecast CAGR (2021-2026): 2.34%
  • Forecast Market Size (2026): 39 KMT

The global precious metals market is driven by the growth of their end-use sectors such as automotive and jewelry. The boom in the automotive industry should propel the growth of several precious metals industries. The use of platinum in the automotive industry is believed to be increasing in emerging economies like India. The demand for palladium comes mainly from the automotive industry and will be driven by increased vehicle sales in countries like China and Europe, among other countries. The expansion of recycled automotive catalysts due to the incentive to collect and process old automotive catalysts will propel the increase in palladium supply. Precious metals, like the rhodium market, are being helped by growing demand for light vehicles from emerging economies. Global precious metals markets, like the silver industry, are expected to be aided by growing demand from its application sectors like the chemical industry. The platinum industry was also driven by increased demand from the chemical sector. The platinum industry is propelled forward by the increasing use of the metal in specialty silicones, which is the metal’s largest chemical end-use sector. The nitric acid industry is also a growing application area for platinum in the chemical industry.

Industry definition and major segments

Precious metals are natural elements that are distinguished by their high luster. Compared to base metals, these metals are rare, hard, less reactive and have high economic value. They are also ductile, malleable, corrosion resistant and have good conductors of heat and energy. Precious metals such as gold, silver, platinum and palladium are also valuable investment assets.

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The main types of precious metals are:

  • Gold
  • Money
  • Palladium
  • Platinum
  • Rhodium plated
  • Others

The different end-use sectors of these precious metals are:

Gold

Money

  • Electrical and Electronic
  • Coins and medals
  • Photography
  • Jewelry
  • Investment
  • Others

Palladium

  • Electrical and Electronic
  • Automotive
  • Medical applications
  • Jewelry
  • Others

Platinum

  • chemical treatment
  • Jewelry
  • Electrical and Electronic
  • Automotive
  • Medical applications
  • Others

Rhodium plated

  • Jewelry
  • Furnace winding
  • Thermocouple elements
  • nuclear reactors
  • Others

Based on region, the industry is divided into:

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

Market trends

The industry is growing due to changing lifestyles and increasing disposable incomes of individuals. In response to growing environmental concerns, major market players across several industry verticals are investing in the recycling of precious metals, which can then be used to manufacture artificial heart pacemakers and cochleas. Governments of various countries are enacting stringent emission regulations, which is helping the growth of the market as these metals are used to purify automobile exhaust. Mine expansion and an increase in recycling are driving up the supply of precious metals. The growing demand for renewable energy will act as a catalyst for the global precious metals market as the increase in solar installations around the world will support the demand for silver. The use of silver in wires and switches will increase in the coming years, as will its application in the electronics and electrical industries.

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Main market players

Major market players are Anglo American Plc, Southern Copper Corporation, Newmont Goldcorp Corporation, Norilsk Nickel PJSC, Northam Platinum Limited, North American Palladium Ltd, Newcrest Mining Limited, PJSC Polyus, Pan American Silver Corporation, Kinross Gold Corporation, Evolution Mining Ltd and Compania de Minas Buenaventura SAA The report covers market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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* At Expert Market Research, we always strive to give you the latest information. The figures in the article are only indicative and may differ from the actual report.

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