Precious Metal Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2020-2027

Published Date : Dec 2020 | No. of Pages : 250 Pages | Category : Chemical and Material

The global Precious Metal market size is expected to be worth around US$ 362.2 billion by 2027, according to a new report by Vision Research Reports.

The global Precious Metal market size was valued at US$ 182.2 billion in 2019 and is anticipated to grow at a CAGR of 9.01% during forecast period 2020 to 2027.

Growth Factors

Rising demand for precious metals in industrial applications is likely to positively influence the market growth.

The precious metals including gold, silver, and platinum group metal (PGM) are widely used across various industrial applications. For instance, platinum and palladium are specifically used as an auto catalyst to reduce pollutant emission from vehicles. Similarly, the product is also used as catalyst in the production of chemicals, such as and fertilizers. The industrial sector primarily comprises automotive and transportation, chemical, energy, electrical and electronics, glass, and water management. The steady growth in the energy sector owing to rising scrutiny by regulators to promote renewable energy development is likely to augment the product’s growth over the forecast period. For instance, total renewable energy capacity has witnessed steady growth from 2014 to 2018. As per the stats released by the International Renewable Energy Association (IRENA) in 2019, total renewable energy capacity has increased from approximately 1,693.2 gigawatt in 2014 to nearly 2,350.7 gigawatt in 2018.

Another key factor for the market growth is likely to be the jewelry sector. Within the jewelry sector, gold is likely to remain the dominant product segment in future owing to its intense demand from countries, such as India and China. Both countries are among the largest consumers of gold commodity as of 2019 and represents strong marriage rates with high population index. For instance, in 2018, nearly 10.1 million marriages were registered in 2018. Gold, which has remained an intricate part of the marriages in India and China largely due to its historical significance, is thus likely to remain a key product category within the market of precious metals.

Report Highlights

Silver led the market and accounted for more than 84.01% share of the global volume in 2019. The market is segmented into gold, silver, and platinum group metals (PGM). The silver is likely to dominate the market over the forecast period owing to its wide usage across the industrial and jewelry sector, coupled with low cost as compared to its counterparts.

Mexico and Peru are projected to remain the key production hubs for the silver commodities in 2019. As per the stats released by USGS in 2020, Mexico’s silver production was 6,120 metric tons, followed by Peru at 4,160 metric tons as of 2018. Other key producing nations are Russia, China, Australia, and Chile.

In terms of revenue, gold led the market and held 77.4% share in 2019 due to its high trading prices and greater usage in the jewelry sector. The gold production for 11 years is witnessing continuous growth with new mines got commissioned in 2019. Among these, Meliadine mine by Agnico Eagle Mines Ltd. and Gruyere mine by Gold Fields Ltd. and Gold Road Resources Ltd. are likely to add a major chunk of the new production. Thus, new product additions are likely to further aid the demand trend of the commodity over the coming years.

The industrial application segment led the market and accounted for more than 44.01% share of the global volume in 2019. The segment growth is largely attributed to the growth of the electrical and electronics sector, wherein majority of silver commodity is used for various purposes.

The Asia Pacific dominated the market and accounted for over 37.01% share of the global volume in 2019. The region comprises the upcoming global powerhouses, such as India, Japan, and China. Among these, China has the widest influence over the market space of precious metals industry. The country is the leading consumer of gold and PGM as of 2019. The strong domestic manufacturing sector of China is the key factor driving the demand for the aforementioned commodities in the country.

The Middle East and Africa accounted for a small revenue share in the industry in 2019. However, the region is expected to expand at the highest CAGR in terms of revenue over the forecast period. The growth is largely attributed to the Gulf countries, which are expanding their economies from oil reliant to service and tourism based economy. This is likely to play a major role in boosting the growth of the region, thereby positively influencing the market growth over the projected period.

Key Players

  • Freeport-McMoRan

  • Polyus Gold International

  • Goldcorp

  • Gold Fields

  • Randgold Resources

  • Newmont Goldcorp

  • Barrick Gold

  • AngloGold Ashanti

  • Kinross Gold

  • Newcrest Mining

Market Segmentation

  • Product Outlook 

    • Gold

    • Silver

    • Platinum Group Metals (PGM)

  • Application Outlook 

    • Jewelry

    • Industrial

    • Investment

  • Regional Outlook 

    • North America

      • U.S.

    • Europe

      • Germany

      • France

      • Russia

    • Asia Pacific

      • China

      • India

    • Central & South America

      • Brazil

    • Middle East & Africa

The Precious Metal market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Precious Metal market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Precious Metal market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Precious Metal market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Precious Metal market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Precious Metal capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Precious Metal by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Precious Metal market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Precious Metal market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Precious Metal market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Precious Metal industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Precious Metal market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Precious Metal market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Precious Metal market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Precious Metal market. These factors have benefited the growth of the global market for Precious Metal. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Precious Metal. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Precious Metal are as follows:

  • Historic Year: 2016-2019
  • Base Year: 2020
  • Forecast Year 2020 to 2027

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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