Summary

Precious Metal Market Growth & Trends

The global precious metal market size is estimated to reach USD 414.57 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.8% from 2023 to 2030. 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 nitric acid 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 2022 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.

The industry comprises multinational vendors,along with few regional vendors. Industry participants are forming joint ventures to target development activities in African countries, wherein majority of precious metal reserves are located.

Precious Metal Market Report Highlights

• Gold is expected to remain the dominant product segment in terms of revenue in the years to come. Growing prices of the commodity due to global pandemic is likely to aid the segment growth over the forecast period

• The silver segment is projected to grow at a CAGR of 2.7% over the forecast period. The intense use of the product in the electrical and electronics sector is likely to promote its growth over the projected period

• The industrial application segment is projected to remain the dominant segment in terms of volume as well as revenue over the forecast period. Rising scrutiny to reduce vehicle pollutant emission by regulators around the globe is projected to remain a key driver for the segment

• The investment application segment is expected to witness the highest growth in terms of volume over the forecast period. The segment is primarily driven by countries like Russia and Kyrgyzstan. Both country’s central bank is buying the highest stock of gold commodities over the last seven years. For instance, in 2019, central bank of the country brought nearly 149 tons of gold commodity in first 11 months

• Asia Pacific is projected to remain the dominant regional market in the years to come. In an optimistic scenario, India and China are projected to continue their growth trajectories post corona situation, and thereby likely to remain key gold consuming countries over the forecast period.

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Table of Contents

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.1.1. Product
1.1.2. Application
1.1.3. Regional scope
1.1.4. Estimates and forecast timeline
1.2. Research Methodology
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. GVR’s internal database
1.3.3. Secondary sources
1.3.4. Primary research
1.3.5. Details of primary research
1.4. Information or Data Analysis
1.5. Market Formulation & Validation
1.6. Model Details
1.7. List of Secondary Sources
1.8. List of Primary Sources
1.9. Objectives
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Product outlook
2.2.2. Application outlook
2.2.3. Regional outlook
2.3. Competitive Insights
Chapter 3. Precious Metal Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Value Chain Analysis
3.4. Regulatory Framework
3.5. Market Dynamics
3.5.1. Market driver analysis
3.5.2. Market restraint analysis
3.5.3. Industry opportunities & challenges
3.6. Precious Metal Market Analysis Tools
3.6.1. Industry Analysis - Porter’s
3.6.1.1. Supplier power
3.6.1.2. Buyer power
3.6.1.3. Substitution threat
3.6.1.4. Threat of new entrant
3.6.1.5. Competitive rivalry
3.6.2. PESTEL Analysis
3.6.2.1. Political landscape
3.6.2.2. Technological landscape
3.6.2.3. Economic landscape
3.6.2.4. Social landscape
3.6.2.5. Environmental landscape
3.6.2.6. Legal landscape
Chapter 4. Supplier Portfolio Analysis
4.1. List of Suppliers
4.2. Kraljic Matrix
4.3. Sourcing Best Practices
4.4. Negotiation Strategies
Chapter 5. Precious Metal: Product Estimates & Trend Analysis
5.1. Precious Metal Market: Key Takeaways
5.2. Precious Metal Market: Movement & Market Share Analysis, 2022 & 2030
5.3. Gold
5.3.1. Gold market estimates and forecasts, 2018 to 2030 (USD Million, Tons)
5.4. Silver
5.4.1. Silver market estimates and forecasts, 2018 to 2030 (USD Million, Tons)
5.5. PGM
5.5.1. PGM market estimates and forecasts, 2018 to 2030 (USD Million, Tons)
Chapter 6. Precious Metal: Application Estimates & Trend Analysis
6.1. Precious Metal Market: Key Takeaways
6.2. Precious Metal Market: Movement & Market Share Analysis, 2022 & 2030
6.3. Jewelry
6.3.1. Jewelry market estimates and forecasts, 2018 to 2030 (USD Million, Tons)
6.4. Industrial
6.4.1. Industrial market estimates and forecasts, 2018 to 2030 (USD Million, Tons)
6.5. Investment
6.5.1. Investment market estimates and forecasts, 2018 to 2030 (USD Million, Tons)
Chapter 7. Precious Metal Market: Regional Estimates & Trend Analysis
7.1. Regional Outlook
7.2. Precious Metal Market by Region: Key Takeaway
7.3. North America
7.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Tons)
7.3.2. U.S.
7.3.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Tons)
7.3.3. Canada
7.3.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Tons)
7.3.4. Mexico
7.3.4.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Tons)
7.4. Europe
7.4.1. Germany
7.4.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Tons)
7.4.2. France
7.4.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Tons)
7.4.3. Italy
7.4.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Tons)
7.4.4. Russia
7.4.4.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Tons)
7.4.5. Switzerland
7.4.5.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Tons)
7.4.6. UK
7.4.6.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Tons)
7.4.6.2. forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Tons)
7.5. Asia Pacific
7.5.1. Japan
7.5.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Tons)
7.5.2. China
7.5.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Tons)
7.5.3. India
7.5.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Tons)
7.5.4. Vietnam
7.5.4.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Tons)
7.5.5. South Korea
7.5.5.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Tons)
7.6. Central & South America
7.6.1. Brazil
7.6.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Tons)
7.6.2. Argentina
7.6.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Tons)
7.7. MEA
7.7.1. Saudi Arabia
7.7.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Tons)
7.7.2. Qatar
7.7.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Tons)
7.7.3. UAE
7.7.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million; Volume, Tons)
Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Market Participant Categorization
8.2.1. Freeport-McMoRan
8.2.1.1. Company overview
8.2.1.2. Financial performance
8.2.1.3. Product benchmarking
8.2.1.4. Strategic initiatives
8.2.2. Polyus
8.2.2.1. Company overview
8.2.2.2. Financial performance
8.2.2.3. Product benchmarking
8.2.2.4. Strategic initiatives
8.2.3. Newmont Corporation
8.2.3.1. Company overview
8.2.3.2. Financial performance
8.2.3.3. Product benchmarking
8.2.3.4. Strategic initiatives
8.2.4. Gold Fields Limited
8.2.4.1. Company overview
8.2.4.2. Financial performance
8.2.4.3. Product benchmarking
8.2.4.4. Strategic initiatives
8.2.5. Randgold & Exploration Company Limited
8.2.5.1. Company overview
8.2.5.2. Financial performance
8.2.5.3. Product benchmarking
8.2.5.4. Strategic initiatives
8.2.6. Barrick Gold
8.2.6.1. Company overview
8.2.6.2. Financial performance
8.2.6.3. Product benchmarking
8.2.6.4. Strategic initiatives
8.2.7. AnglogoldAshanti
8.2.7.1. Company overview
8.2.7.2. Financial performance
8.2.7.3. Product benchmarking
8.2.7.4. Strategic initiatives
8.2.8. Kinross Gold Corporation,
8.2.8.1. Company overview
8.2.8.2. Financial performance
8.2.8.3. Product benchmarking
8.2.8.4. Strategic initiatives
8.2.9. Newcrest Mining Limited
8.2.9.1. Company overview
8.2.9.2. Financial performance
8.2.9.3. Product benchmarking
8.2.9.4. Strategic initiatives