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.
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