PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1392109
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1392109
The Global Argentite Market is estimated to be valued at US$ 6.93 billion in 2023 and is expected to reach US$ 13.08 billion by 2030, growing at a compound annual growth rate (CAGR) of 9.5% from 2023 to 2030.
Report Coverage | Report Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 6.93 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 9.50% | 2030 Value Projection: | US$ 13.08 Bn |
A blackish-grey metallic mineral which tarnishes rapidly in air and it is the predominant silver mineral in the Fresnillo district. Silver extraction from this ore is improved greatly by the sulphur dioxide treatment and cyanide extraction. It occurs combined with sulphur (as in horn silver and pyrargyrite) or with copper, sulphur, antimony, and arsenic (as in polybasite). It forms massive, platy masses and coatings, and may show arborescent groups of crystals. Its crystals are cubic but convert to monoclinic form at ordinary temperatures.
Growing demand for silver, industrial applications, and investment and speculation is anticipated to drive the growth of the global argentite market over the forecast period. Moreover, silver mining is also expected to boost the growth of the global argentite market over the forecast period. Exploration and mining investments, silver recycling and e-waste management, research and development, and silver nanoparticles and biomedical applications are expected to create growth opportunities for the global argentite market during the forecast period. Argentite, a silver sulfide mineral, is a significant source of silver. Silver has numerous industrial applications, including in electronics, photography, and jewelry, which drives the demand for Argentite. Advancements in mining technology have made it easier and more cost-effective to extract silver from Argentite, which could potentially drive market growth. However, the Argentite market may face challenges due to environmental concerns related to mining and fluctuations in the price of silver. Emerging markets, particularly in Asia and South America, present significant opportunities for the expansion of the Argentite market due to their growing industrial sectors and increasing demand for silver. In conclusion, the global Argentite market has a promising scope with opportunities for growth in both developed and emerging markets.
However, price volatility, environmental and regulatory challenges, and competition from alternative sources are expected to hamper the growth of the argentite market over the forecast period.
Argentite Market Detailed Segmentation: