Global precious metals market is
expected to grow at a CAGR between 4.0% and 4.5% over the period of 2017
– 2023. Precious metals are naturally occurring high value and rare
metals such as silver, gold, and platinum group metals. These metals are
traded and are also treated as currency in the world market, however,
these metals are also in several industrial applications. Although these
metals are traded as high investment metals, the report covers the
precious metals used in industrial applications. A research study has
found out that precious metals are used in industrial applications
including photovoltaics and jewelry among others. These materials of not
reactive and are increasingly used in the industrial applications.
Figure 1: Global Precious Metals Market by Value
Increase in applications of precious
metals such as silver and platinum group metals in the end use
industries is a primary factor promoting the growth in the world market.
Moreover, globally rise in per capita income among the consumers in the
world market is expected to drive the demand for jewelry of precious
metals over the forecast period. However, regulatory aspects pertaining
to the mining of precious metals is one of the primary restraining
factors affecting the growth of this market, furthermore, rise in demand
for imitation and quoted jewelry is expected to affect the market
growth of the precious metals over the forecast period.
The report covers the analysis of global
as well as regional markets of Precious metals market. Moreover, the
global precious metals market is segmented by type, by end user
applications. On the basis of types the precious metals market is
segmented as platinum group metals, silver, gold and others. On the
basis of the end use applications include silver nitrate applications-
photovoltaics, jewelry and others; gold applications- jewelry and
others, platinum group metals- photovoltaics, jewelry and others. Other
applications include healthcare and automotive among others. Among the
product types silver accounted for the largest market size in terms of
volume over the period of 2015 and 2016.
The global Precious metals market covers
analysis of regions such as North America, Europe, Asia-Pacific and RoW
(including Latin America, Middle East and Africa). Increase in the
application industries in the Asia-Pacific region accounts for the
largest market size in the world, moreover this regions is expected to
grow at the highest CAGR over the forecast period. Moreover, the North
America region accounted for the second largest market.
Figure 2: Global Precious Metals Market by Region
The companies covered in the report
include manufacturers of global precious metals include Anglo American,
Barrick Gold, Impala, Johnson Matthey, Lonmin, Newmont Mining, Aquarius
Platinum, BHP Billiton, GoldCorp, and KGHM PolskaMiedz.
The report provides deep insights on
demand forecasts, market trends and micro and macro indicators. In
addition, this report provides insights on the factors that are driving
and restraining the demand of precious metals globally as well as
regionally. Moreover, IGR-Growth Matrix analysis given in the report
brings an insight on the investment areas that existing or new market
players can consider. The report provides insights into the market
using analytical tools such as Porter’s five forces analysis and value
chain analysis of precious metals.
Moreover, the study highlights
current market trends and provides forecast from 2017 to 2023. We also
have highlighted future trends in the precious metals market that will
impact the demand during the forecast period. Moreover, the competitive
analysis given in each regional market brings an insight on the market
share of the leading players. Additionally, the analysis highlights rise
and fall in the market shares of the key players in the market. This
report will help manufacturers, suppliers and distributors of the
precious metals market to understand the present and future trends in
this market and formulate their strategies accordingly.