Precious Metal - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Precious Metal Market is accounted for $182.10 billion in 2019 and is expected to reach $419.66 billion by 2027 growing at a CAGR of 11.0% during the forecast period. Demand for the product in jewelry application and increasing use of palladium & platinum metal in electric vehicles industry are the major factors driving the market growth. However, government restriction on mining and rare availability of the coal, gold, platinum, and silver is restraining the market growth.
A precious metal is a unique, naturally occurring metallic chemical metal of high financial value. Chemically, these are less reactive than most of the other elements. They have high luster and are usually ductile in nature. Historically, these products were significant as currency but are now more viewed mostly as investments and industrial commodities.
Based on product, the silver segment is likely to have a huge demand due to its wide usage across the industrial and jewelry sector, coupled with low cost as compared to its counterparts. By geography, Asia Pacific is going to have a lucrative growth during the forecast period. The region comprises the upcoming global powerhouses, such as India, Japan, and China. The strong domestic manufacturing sector of China is the key factor driving the demand for the aforementioned commodities in the country.
Some of the key players profiled in the Precious Metal Market include AngloGold Ashanti, Barrick Gold, Eurasia Mining PLC, Freeport-McMoRan, Gold Fields, Goldcorp, Kinross Gold, Newcrest Mining, Newmont Goldcorp, Polyus Gold International, Randgold Resources and Vale SA.
• Reserve and Currency
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
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- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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