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Report Overview
The global precious metals market reached a volume of 436.05 KMT in 2023. The market is further estimated to grow at a CAGR of 4.70% during 2024-2032 to reach a volume of 659.26 KMT by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- The rapid transition from fossil fuels to renewable energy, such as solar power, supports silver use.
- Latin America has abundant reserves for silver as well as plenty of reserves for gold, and with limited local demand, the region has emerged as a natural exporter.
- Investors are inclined towards precious metals such as gold and silver as they are considered safe haven investments.
Global Precious Metals Market Size
The global precious metals market reached a volume of 436.05 KMT in 2023. The market is further estimated to grow at a CAGR of 4.7% during 2024-2032 to reach a volume of 659.30 KMT by 2032.
Precious Metals Market Outlook
- The rapid transition from fossil fuels to renewable energy, such as solar power, supports silver use.
- Latin America has abundant reserves for silver as well as plenty of reserves for gold, and with limited local demand, the region has emerged as a natural exporter.
- Investors are inclined towards precious metals such as gold and silver as they are considered safe haven investments.
Precious Metals Market Report Snapshots
Precious Metals Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market reached a volume of 436.05 KMT in 2023.
The market is projected to grow at a CAGR of 4.70% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a volume of 659.26 KMT by 2032.
The key types are gold, silver, platinum, palladium, and rhodium.
The key regional markets for precious metals are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The factors driving the growth of the market are the rising demand for precious metals in jewellery, the increasing use of platinum and palladium in the automotive sector, and the emerging demand for lightweight vehicles.
The key trends of the market include the increasing adoption of gold and silver as investments, rising technological advancements, and the expansion of the semiconductor manufacturing sector.
The key players in the market include Anglo American Plc, Southern Copper Corporation, Newmont Corporation, Northam Platinum Holdings Limited, Newcrest Mining Limited, and Kinross Gold Corporation, among others.
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Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124