Global Precious Metals Market Size To Hit US$ 267.5 Billion By 2028 | IMARC Group

The latest report published by IMARC Group, titled "Precious Metals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," offers a comprehensive analysis of the industry, which comprises insights on the market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global precious metals market size reached US$ 198.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 267.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.49% during 2023-2028.

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Precious Metals Market Trends:

The changing lifestyle represents one of the key factors driving the market growth across the globe. In line with this, the rising demand for the product in industrial applications, including electronics and automobile manufacturing, is contributing to the growth of the market. Apart from this, the increasing demand for silver by solar panel manufacturers is further facilitating the growth of the market. In addition to this, the significantly expanding fashion industry is acting as a major growth-inducing factor. The market is also driven by the rising worldwide demand for jewelry. Other factors, such as increasing disposable incomes of consumers and the increasing demand for precious metals as an investment mode, are creating a positive outlook for the market across the globe.

Precious Metals Market 2023-2028 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:

• Anglo American Platinum Limited (Anglo American PLC)
• Barrick Gold Corporation
• First Majestic Silver Corp.
• First Quantum Minerals Ltd.
• Freeport-Mcmoran Inc.
• Fresnillo Plc (Peñoles Group)
• Gabriel Resources Ltd.
• Glencore International AG
• Gold Fields Limited
• Harmony Gold
• Impala Platinum Holdings Limited
• Lundin Mining Corporation
• Pan American Silver Corporation.

Key Market Segmentation:

The report has segmented the global precious metals market based on metal type, application and region.

Breakup by Metal Type:

• Gold:
o Jewelry
o Investment
o Technology
o Others

• Platinum:
o Auto-catalyst
o Jewelry
o Chemical
o Petroleum
o Medical
o Others

• Silver:
o Industrial Application
o Jewelry
o Coins and Bars
o Silverware
o Others

• Palladium:
o Auto-catalyst
o Electrical
o Dental
o Chemical
o Jewelry
o Others

• Others

Breakup by Application:

• Automotive
• Electronics
• Jewelery
• Chemicals
• Others

Breakup by Region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

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Industry Definition and Application:

Precious metals are rare and valuable metals that have a variety of uses, including jewelry, currency, and industrial applications. The most recognized precious metals are gold, silver, and platinum and are considered a haven investment, meaning they are often used as a hedge against inflation or economic uncertainty. Because of their limited supply and high demand, precious metals are generally viewed as a reliable store of value and a means of diversifying investment portfolios. In addition to their practical applications, precious metals have played important cultural and historical roles, dating back thousands of years.

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• 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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