Precious Metal Market Overview
As per Roots Analysis, the global precious metal market size is estimated to grow from USD 275.5 billion in the current year to USD 526.9 billion by 2035, at a CAGR of 6.07% during the forecast period, till 2035.
The opportunity for precious metal market has been distributed across the following segments:
Type of Precious Metal
- Gold
- Platinum Group Metal
- Silver
Type of Application
- Industrial
- Investment
- Jewelry
- Semiconductors
- Others
Type of End-User
- Aerospace
- Automotive
- Electronics
- Medical
- Oil and gas
- Others
Geographical Regions
- North America
- US
- Canada
- Mexico
- Other North American countries
- Europe
- Austria
- Belgium
- Denmark
- France
- Germany
- Ireland
- Italy
- Netherlands
- Norway
- Russia
- Spain
- Sweden
- Switzerland
- UK
- Other European countries
- Asia
- China
- India
- Japan
- Singapore
- South Korea
- Other Asian countries
- Latin America
- Brazil
- Chile
- Colombia
- Venezuela
- Other Latin American countries
- Middle East and North Africa
- Egypt
- Iran
- Iraq
- Israel
- Kuwait
- Saudi Arabia
- UAE
- Other MENA countries
- Rest of the World
- Australia
- New Zealand
- Other countries
Precious Metal Market: Growth and Trends
Precious metals are rare metallic elements that occur naturally and hold significant economic value due to their scarcity, beauty, and various industrial uses. The most commonly known precious metals include gold, silver, and the platinum group metals (PGMs), which comprise platinum, palladium, and rhodium. Precious metals are utilized in several industries, including aerospace, automotive, electronics, and renewable energy. These metals are characterized by unique properties such as luster, malleability, resistance to corrosion, and excellent electrical conductivity. Interestingly, around 7% of the world's gold is contained within electronic waste, which has become one of the fastest-growing waste streams globally.
Additionally, the precious metals industry is currently experiencing a transformative phase, fueled by rising demand from various end users. Advances in technology, including artificial intelligence and automation, are expected to optimize processes and improve the efficiency of metal extraction. Importantly, sustainable mining practices, such as integrating precious metals into renewable energy solutions and implementing advanced waste management methods, will help lessen the environmental footprint of the industry. As a result, owing to the above mentioned factors, the precious metal market is expected to grow significantly during the forecast period.
Precious Metal Market: Key Segments
Market Share by Type of Precious Metal
Based on type of precious metal, the global precious metal market is segmented into gold, platinum group metal and silver. According to our estimates, currently, the gold segment captures the majority of the market share. This growth can be linked to its dependable protection against inflation, escalating gold market trends, increased reserves held by central banks, and growing demand from retailers.
Market Share by Type of Application
Based on type of application, the global precious metal market is segmented into industrial, investment, jewelry, semiconductors and others. According to our estimates, currently, the industrial segment captures the majority of the market share, due to the increasing use of industrial applications across various sectors such as electronics, automotive production, aerospace, and healthcare.
Market Share by Type of End-User
Based on type of end-user, the global precious metal market is segmented into aerospace, automotive, electronics, medical, oils and gas and others. According to our estimates, currently, the precious metals in electronics are capturing the majority of the market share. This can be linked to the increasing need for electronic devices and components that depend on materials such as gold, silver, and platinum due to their distinct characteristics.
Market Share by Geographical Regions
Based on geographical regions, the precious metal market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently, Asia captures the majority share of the market, driven by the increasing need for electronic devices and components that depend on materials such as gold, silver, and platinum due to their distinct characteristics.
Example Players in Precious Metal Market
- Anglo American Platinum
- AngloGold Ashanti
- Barrick Gold
- First Quantum Minerals
- Freeport-McMoRan
- Gabriel Resources
- Gold Fields
- Impala Platinum Holdings
- Kinross Gold
- Lundin Mining
- Newcrest Mining
- Newmont
- Wheaton Precious Metals
Precious Metal Market: Research Coverage
The report on the precious metal market features insights on various sections, including:
- Market Sizing and Opportunity Analysis: An in-depth analysis of the precious metal market, focusing on key market segments, including [A] type of precious metal, [B] type of application, [C] type of end-user, and [D] geographical regions.
- Competitive Landscape: A comprehensive analysis of the companies engaged in the precious metal market, based on several relevant parameters, such as [A] year of establishment, [B] company size, [C] location of headquarters and [D] ownership structure.
- Company Profiles: Elaborate profiles of prominent players engaged in the precious metal market, providing details on [A] location of headquarters, [B] company size, [C] company mission, [D] company footprint, [E] management team, [F] contact details, [G] financial information, [H] operating business segments, [I] precious metal portfolio, [J] moat analysis, [K] recent developments, and an informed future outlook.
- Megatrends: An evaluation of ongoing megatrends in the precious metal industry.
- Patent Analysis: An insightful analysis of patents filed / granted in the precious metal domain, based on relevant parameters, including [A] type of patent, [B] patent publication year, [C] patent age and [D] leading players.
- Recent Developments: An overview of the recent developments made in the precious metal market, along with analysis based on relevant parameters, including [A] year of initiative, [B] type of initiative, [C] geographical distribution and [D] most active players.
- Porter's Five Forces Analysis: An analysis of five competitive forces prevailing in the precious metal market, including threats of new entrants, bargaining power of buyers, bargaining power of suppliers, threats of substitute products and rivalry among existing competitors.
- SWOT Analysis: An insightful SWOT framework, highlighting the strengths, weaknesses, opportunities and threats in the domain. Additionally, it provides Harvey ball analysis, highlighting the relative impact of each SWOT parameter.
- Value Chain Analysis: A comprehensive analysis of the value chain, providing information on the different phases and stakeholders involved in the precious metal market.
Key Questions Answered in this Report
- How many companies are currently engaged in precious metal market?
- Which are the leading companies in this market?
- What factors are likely to influence the evolution of this market?
- What is the current and future market size?
- What is the CAGR of this market?
- How is the current and future market opportunity likely to be distributed across key market segments?
Reasons to Buy this Report
- The report provides a comprehensive market analysis, offering detailed revenue projections of the overall market and its specific sub-segments. This information is valuable to both established market leaders and emerging entrants.
- Stakeholders can leverage the report to gain a deeper understanding of the competitive dynamics within the market. By analyzing the competitive landscape, businesses can make informed decisions to optimize their market positioning and develop effective go-to-market strategies.
- The report offers stakeholders a comprehensive overview of the market, including key drivers, barriers, opportunities, and challenges. This information empowers stakeholders to stay abreast of market trends and make data-driven decisions to capitalize on growth prospects.
Additional Benefits
- Complimentary Excel Data Packs for all Analytical Modules in the Report
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