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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Precious Metals Market Analysis by Region
North America is one of the significant markets. Mineral exploration is a significant sector in Canada, with precious metals, in particular gold, being most sought-after. Gold is mined from 9 provinces and territories, led by Quebec and Ontario, with key uses including investment, jewellery, and technology.
Within Asia Pacific, the Chinese government is actively promoting the transition to a clean economy and the use of green hydrogen and fuel-cell electric vehicles to realise its aim to achieve carbon neutrality by 2060. This is anticipated to increase the demand for platinum, palladium, and rhodium, which play a critical role in proton-exchange membrane (PEM) electrolysers and power fuel hydrogen cell vehicles.
In Latin America, Mexico, Brazil, and Chile have significant reserves of precious metals such as gold and silver. Brazil is a sizable exporter of gold, with destination countries including Canada, Switzerland, the United Kingdom, the United Arab Emirates, and India. Gold imports in Brazil are substantially lower, and are primarily sourced from Singapore, South Korea, the United States, and Italy.
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 4.7% 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 659.30 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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