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TMCNet:  Global Precious Metals Market Driven by the Extensive Use of Platinum in Glass and Chemical Industries, Finds Technavio

[April 13, 2017]

Global Precious Metals Market Driven by the Extensive Use of Platinum in Glass and Chemical Industries, Finds Technavio

According to the latest market study released by Technavio, the global precious metals market is projected to grow to 1,757.4 million ounces by 2021, at a CAGR of more than 4% over the forecast period.

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Technavio has announced the release of their 'Global Precious Metals Market 2017-2021' report. (Grap ...

Technavio has announced the release of their 'Global Precious Metals Market 2017-2021' report. (Graphic: Business Wire)

This research report titled 'Global Precious Metals Market 2017-2021' provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.



 
Precious metals are naturally occurring rare metallic chemical elements which have high economic value. The extensive use of platinum in the glass and chemical industries due to its high melting point, strength, and corrosion resistance will be a key driving factor impacting the global precious metals market.

Request a sample report: https://www.technavio.com/request-a-sample?report=56102

Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Based on product type, the report categorizes the global precious metals market into the following segments:

  • Silver
  • Gold
  • Palladium
  • Platinum

The top three revenue-generating product segments in the global precious metals market are discussed below:

Silver

"Silver dominates the precious metals market and holds over 85% of the global shares. This metal is in high demand for various industrial applications, in jewelry making, and for investment purposes," says Mahitha Mallishetty, a lead analyst in Technavio for metals and minerals research.

The global silver market is mainly driven by the growing usage of silver in photovoltaic devices and jewelry, from countries such as the US, China, India, Japan, and Russia. Apart from the above-mentioned applications, it is also used in the fashion and glass industries.

Gold

Gold is the second most popular product of the global precious metals market, projected to reach 210.2 million ounces by 2021. The high demand for this metal from East Asia, India, and the Middle East will be responsible for the growth of the market segment over the forecast period. Other factors that are likely to influence the global gold market include the above-ground supply of gold from central banks' sale, official gold loans, hedging interests of producers, the construction of new production facilities or processes, unexpected mine or plant closures, and industry restructuring.

Palladium

"Most of the demand for palladium originates from the autocatalyst sector, which is used in the expanding automotive output from swiftly developing nations such as India and China. The jewelry industry also creates a significant demand for palladium," says Mahitha.

Region wise, Europe, Japan, and North America create moderate demand for palladium. Other important industries where palladium is used include electrical, dental, chemical, and investment sectors.

The top vendors highlighted by Technavio's research analysts in this report are:

  • Anglo American
  • Impala Platinum
  • Lonmin
  • Newmont Mining

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Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they're published in addition to all 6,000+ existing reports covering segments like glass and ceramics, industrial gases, and olefins. This subscription nets you thousands in savings, while staying connected to Technavio's constant transforming research library, helping you make informed business decisions more efficiently.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.


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