PUBLISHER: Value Market Research | PRODUCT CODE: 1547842
PUBLISHER: Value Market Research | PRODUCT CODE: 1547842
The global demand for Precious Metals Market is presumed to reach the market size of nearly USD 506.14 Billion by 2032 from USD 274.15 Billion in 2023 with a CAGR of 7.05% under the study period 2024-2032.
Precious metals are naturally occurring rare metallic chemical element of high economic value. They are ductile and have a high luster. These are important as currency but are now regarded mainly as investment and industrial commodities. Gold, silver, platinum, and palladium are examples of precious metals. Precious metals are used for making jewelry, electronics, medicine, awards, cutlery, photography, antibiotics, catalytic conversion, computer parts, oil refining, and medical needs.
Growing demand for industrial purposes and jewelry making is driving the global precious metal market. Platinum as a catalyst is gaining importance in refining and automotive filtration. Companies in the automotive catalytic converter industry are switching from palladium to platinum. Rising sales of fuel-driven automotive will propel global precious metal demand. An increase in the platinum demand is mostly caused by markets such as China, Europe, and India, due to the market shift from light-duty diesel to light-duty gasoline. However, the emergence of appealing artificial jewelry and sluggish mining activities is projected to hamper the market's growth.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Precious Metals. The growth and trends of Precious Metals industry provide a holistic approach to this study.
This section of the Precious Metals market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Precious Metals market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Precious Metals market include Newmont Goldcorp, Barrick Gold, AngloGold Ashanti, Kinross Gold, Newcrest Mining, Freeport-McMoRan, Polyus Gold International, Goldcorp, Gold Fields, Randgold. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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