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Global precious metals market is propelled by the growing demand for renewable energy. They are in demand by various industries like jewellery, chemical industry, and automobile industry, among others. Precious metals are metals that are naturally occurring and are less reactive than most metals. They have high economic value on account of but not limited to their rarity. Usually, they are ductile and have high lustre. Regional markets for global precious metals are North America, Europe, Asia Pacific, South America, and the Middle East and Africa. These regions are headed by many companies such as Southern Copper Corporation (NYSE: SCCO) and Newmont Goldcorp Corporation (NYSE: NEM).
The market for gold, which is one of the types, is less volatile, and therefore investors are looking to invest in it. Gold demand is boosted by Central Banks' purchases and lowering the value of the dollar. The demand for silver is predicted to rise further due to the rise in solar installations across many markets. In 2020, the market for palladium market is going to increase moderately as the demand from the automotive sector is anticipated to grow. The industrial demand for platinum is forecasted to increase this year as a result of the increase in demand in petroleum and chemical sectors. In emerging economies like India, platinum use in the automotive industry is estimated to grow. Rhodium demand is expected to increase by 2% due to an increase in the market for autocatalyst and industrial sector.
Market Analysis by Types, Applications, and Regions:
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Anglo American Plc, Southern Copper Corporation, Newmont Corporation, Northam Platinum Holdings Limited, Newcrest Mining Limited, Kinross Gold Corporation, Others are the key players in the global precious metals market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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