26-Feb-2020 | Facts and Factors
Facts and Factors have authored “Precious Metal Market By Product (Gold, Silver, & Platinum Group Metals (PGM)), By Application (Jewelry, Industrial, & Investment), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026”. The rising demand for the global precious metals market in 2020 was above USD 192.7 Billion and is expected to reach above USD 364.89 Billion by 2026. The anticipated CAGR for the precious metals market is around 8.5% from 2021 to 2026.
The precious metals are a metallic element that is natural, rare, and difficult to find. Due to its rarity, precious metals have high economic value. Precious metals are solid at room temperature and possess high luster and are usually ductile. They are good conductors of electricity and heat. Predominantly they are referred to as an investment. They are less reactive than other elements. Platinum and gold are prominent metals while silver and other metals are used in industrial applications. All these metals are well known due to their use in art and jewelry.
Browse the full “Precious Metal Market By Product (Gold, Silver, & Platinum Group Metals (PGM)), By Application (Jewelry, Industrial, & Investment), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026" report at https://www.fnfresearch.com/precious-metal-market-report
Due to increasing uncertainty in the market, most stockholders are looking for a safe haven in the precious metals commodity. Growing mining sectors are expected to boom the precious metals market. The growing use of precious metals in several industries such as electronics,chemical, jewelry, automotive, oil, and gas, etc. is driving precious metals market growth. Growing consumption of gold and platinum is the major driver of the market. Precious metals are very expensive, if they are not polished properly, they become impure and may lose their luster and make them dull. This factor may curb the growth of the market. Illegal gold mining, political instability may impede market growth. The use of metals such as gold, silver, platinum, etc. in the jewelry, and in investment offers a lucrative opportunity for market growth.
By type segment, the precious metals are divided into gold, silver, platinum, palladium, and others. Among these, the gold category highly penetrated the market in 2019, it accounted for more than 40% market share of the global precious metals market. Gold was followed by silver and platinum in 2019. Furthermore, the silver category is expected to grow with high demand globally throughout the estimated period 2020-2026.
By end-user, the global precious metals market is classified into individual, and broker. The individual segment is anticipated to grow in the near future. Increasing interest and knowledge of customers regarding trading is supporting the segment growth. Growing awareness regarding investments and stocks among the people is increasing the customer base for the individual application segment.
By geography, the Asia-pacific region dominated the global precious metals market in 2019. The Asia-pacific region was valued at around USD 140 billion in 2019, owing to the rising demand for gold and silver in various countries of this region. Low-interest rates and negative yields, with stringent monetary policies in developing and developed countries may project the precious metals market’s growth.
Top Market Players
The key market participants for the global precious metal market are Freeport-McMoRan, Polyus Gold International, Goldcorp, Gold Fields, Randgold Resources, Newmont Goldcorp, Barrick Gold, AngloGold Ashanti, Kinross Gold, Newcrest Mining, First Quantum Minerals, North American Palladium Ltd, Harmony Gold Mining Limited, and GlencoreXstrata, among others.
This report segments the precious metals market as follows:
Global Precious Metal Market: By Product Segment Analysis
- Platinum Group Metals (PGM)
Global Precious Metal Market: By Application Segment Analysis
Global Precious Metals Market: Regional Segment Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- The Middle-East and Africa
- GCC Countries
- South Africa
- Rest of Middle-East Africa
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