According to the latest report by IMARC Group, titled “Precious Metals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global precious metals market reached a value of US$ 192.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 254.3 Billion by 2027, exhibiting at a CAGR of 5.3% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Precious metals are chemically inert elements that are not found abundantly in nature. Historically, they were used as the basis for money; however, nowadays, they are traded as portfolio diversifiers and hedges against inflation. Precious metals have a high economic value due to various factors, including their scarcity, use in industrial processes, and role throughout history as a store of value. In recent years, precious metals have gained popularity across the globe as investors nowadays purchase these valuable metals mainly as financial assets.
Market Trends and Drivers:
The global precious metals market is primarily driven by their increasing demand in jewelry application and various industrial processes. For instance, gold finds applications in the dentistry and electronics industry due to its durability, malleability, and ability to conduct heat and electricity. On the other hand, silver is utilized in batteries, superconductors, and microcircuit applications. Apart from this, the rising concerns over financial stability, fear of inflation, and the perceived risk of war are other growth-inducing factors contributing to the market. Furthermore, several regulatory bodies are implementing stringent regulations to limit the black-market activities of precious commodities. Moreover, increasing purchasing power, improving living standards and changing lifestyles of individuals have also encouraged them to make investments in precious metals to survive the rapidly changing market conditions.
Precious Metals Market 2022-2027 Competitive Landscape and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the precious metals market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Gabriel Resources Ltd.
- Harmony Gold
- Fresnillo Plc (Peñoles Group)
- Pan American Silver Corporation
- Glencore International AG
- Gold Fields Limited
- Lundin Mining Corporation
- Impala Platinum Holdings Limited
- Anglo American Platinum Limited (Anglo American PLC)
Key Market Segmentation:
The report has segmented the global precious metals market on the basis of metal type, application and region.
Breakup by Metal Type:
- Industrial Application
- Coins and Bars
Breakup by Application:
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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