In 2018, the global precious metals market attained a production volume of almost 32, 382 MT. The market is expected to witness a stable growth in the forecast period of 2019-2024, growing at a CAGR of 2.34%. The precious metal production is projected to reach nearly 38 KMT in 2024.
Silver is the leading precious metal, with the most significant production. Mexico accounts for the largest output of the metal, representing almost a fifth of its global production. In 2019, the silver supply is projected to witness a slight increase with mine supply forecasted to grow marginally. The increased supply of the precious metal is propelled by mine expansions and hike in recycling. While several major economies are expected to witness a slower economic growth in the coming year, the silver demand is still anticipated to see a growth in major end-use sectors. The silver application in the photovoltaic sector, especially, is forecasted to see a rise in demand. The rapidly growing demand for renewable energy will act as a catalyst for the global precious metals market as silver demand will be supported by the increase in solar installations across the globe. Silver application in the electronic and electrical sector will also accelerate in the coming years as the precious metal finds uses in wires and switches. The increasing proliferation of electrical vehicles is also aiding the global precious metals market.
Regionally, Mexico, China, and Peru are the major producing countries for precious metals by volume. China, Russia, and Australia, on the other hand, are the leading markets, by value. China is a significant producer of gold, accounting for over 10% of its global production. The gold market is being driven by the increased purchases from central banks in 2018, especially Russian and Chinese central banks. Palladium, on the other hand, is majorly produced in Russia. South Africa is a leading producer of platinum and rhodium accounting for over three-fifths of their global production. The global platinum supply is projected to expand in 2019 by 1% due to increased output from shafts in South Africa and the United States. The production of the precious metal is estimated to witness a hike of 12% in North America and 1% in South Africa. Rhodium output in South Africa is also expected to increase in 2019.
Properties and Applications
Precious metals are naturally occurring and rare metallic elements, which tend to have lower reactivity and high lustre. They also usually have higher economic value. Their various types are gold, silver, palladium, platinum, and rhodium, among others. The various end-use sectors of these precious metals are:
The report looks into the various regional markets like North America, LATAM, Middle East and Africa, Europe, and the Asia Pacific.
The global precious metals market being driven by the growth of their end-use sectors like automobile and jewellery. The rise in automotive industry is expected to propel the growth of multiple precious metal industries like silver, platinum, and palladium. Platinum use in the automotive industry is estimated to grow in emerging economies like India. The demand for palladium comes primarily from the automotive industry and will be driven by the increasing sales of vehicles in countries like China and Europe, among other countries. The expansion of recycled autocatalysts due to the incentivisation of the collection and processing of the old autocatalysts will propel the rise of palladium supply. The supply of the precious metal is also expected to see a growth in North America, South Africa, and Russia. Rhodium also finds extensive use as an autocatalyst, with the end-use sector accounting for almost 80% of the metal’s global consumption. Thus, global precious metals markets like rhodium market is aided by the rising demand for light-vehicles from emerging economies. Rhodium demand is anticipated to grow by nearly 2% in 2019 due to a hike in demand from autocatalyst and industrial sectors.
Global precious metals markets like the silver industry is expected to be aided by the rising demand from its applications sectors like the chemical industry. The platinum industry has also been driven by the rise in demand from the chemical sector. The industry for platinum is being propelled forward by the increasing use of the metal in the specialty silicones, which is the largest chemical end-use sector for the metal. The nitric acid industry is also a growing application sector for platinum within the chemical industry. The market for platinum is finding impetus from its strengthening sales to various Chinese industries like glass, petroleum, and chemicals. The expected miners’ strike in South Africa in the coming year due to wage negotiations might detrimentally affect several precious metals industries.
The report provides a detailed analysis of the key players in the global precious metals market, looking into their market share, capacity, and latest developments like plant turnarounds, capacity expansions, and mergers and acquisitions:
The comprehensive report assesses the global precious metals market based on Porter’s Five Forces model. A SWOT analysis of has also been provided.
2 Research Methodology
3 Executive Summary
3.1 Market Overview
3.2 Key Demand Drivers
3.3 Key Players
3.4 Supply Market Changes
4 Global Precious Metals Market Outlook
5 Global Precious Metals Market
5.1 Global Precious Metals Market Analysis
5.1.1 Figure: Global Precious Metals Historical Market (2014-2018) & Forecast (2019-2024)
5.1.2 Chart: Global Precious Metals Market Breakup by Type
5.1.3 Figure: Global Precious Metals Market Breakup by Type: Historical Market (2014-2018) & Forecast (2019-2024)
5.1.4 Chart: Global Gold Market Breakup by End Use
184.108.40.206 Coins and Medals
5.1.5 Figure: Global Gold Market Breakup by End Use: Historical Market (2014-2018) & Forecast (2019-2024)
220.127.116.11 Coins and Medals
5.1.6 Chart: Global Silver Market Breakup by End Use
18.104.22.168 Electric and Electronics
22.214.171.124 Coins and Medals
5.1.7 Figure: Global Silver Market Breakup by End Use: Historical Market (2014-2018) & Forecast (2019-2024)
126.96.36.199 Electric and Electronics
188.8.131.52 Coins and Medals
5.1.8 Chart: Global Palladium Market Breakup by End Use
184.108.40.206 Electric and Electronics
220.127.116.11 Medical Applications
5.1.9 Figure: Global Palladium Market Breakup by End Use: Historical Market (2014-2018) & Forecast (2019-2024)
18.104.22.168 Electric and Electronics
22.214.171.124 Medical Applications
5.1.10 Chart: Global Platinum Market Breakup by End Use
126.96.36.199 Chemical Processing
188.8.131.52 Electric and Electronics
184.108.40.206 Medical Applications
5.1.11 Figure: Global Platinum Market Breakup by End Use: Historical Market (2014-2018) & Forecast (2019-2024)
220.127.116.11 Chemical Processing
18.104.22.168 Electric and Electronics
22.214.171.124 Medical Applications
5.1.12 Chart: Global Rhodium Market Breakup by End Use
126.96.36.199 Furnace Windings
188.8.131.52 Thermocouple Elements
184.108.40.206 Nuclear Reactors
5.1.13 Figure: Global Rhodium Market Breakup by End Use: Historical Market (2014-2018) & Forecast (2019-2024)
220.127.116.11 Furnace Windings
18.104.22.168 Thermocouple Elements
22.214.171.124 Nuclear Reactors
5.1.14 Chart: Global Precious Metals Market Breakup by Region
126.96.36.199 North America
188.8.131.52 Asia Pacific
184.108.40.206 South America
220.127.116.11 Middle East & Africa
5.1.15 Figure: Global Precious Metals Market Breakup by Region: Historical Market (2014-2018) & Forecast (2019-2024)
18.104.22.168 North America
22.214.171.124 Asia Pacific
126.96.36.199 South America
188.8.131.52 Middle East & Africa
5.2 SWOT Analysis
5.3 Value Chain Analysis
5.4 Porter’s Five Forces Analysis
5.4.2 Buyer’s Power
5.4.3 Supplier’s Power
5.4.4 New Entrants
5.4.5 Degree of Rivalry
5.5 Global (HS Code-7106,7108,7110) Trade Analysis (2018)
5.5.1 Major Exporting Countries by Value & Volume
5.5.2 Major Importing Countries by Value & Volume
5.6 Regional Price Analysis
5.6.1 North America Precious Metals Historical Price Trends (2014-2018) & Forecast (2019-2024)
5.6.2 Europe Precious Metals Historical Price Trends (2014-2018) & Forecast (2019-2024)
5.6.3 Asia Pacific Precious Metals Historical Price Trends (2014-2018) & Forecast (2019-2024)
5.6.4 South America Precious Metals Historical Price Trends (2014-2018) & Forecast (2019-2024)
5.6.5 Middle East & Africa Precious Metals Historical Price Trends (2014-2018) & Forecast (2019-2024)
6 Manufacturing Process
6.1 Detailed Process Flow
6.2 Operations Involved
6.3 Mass Balance
7 Cost Analysis
7.1 Land, Location and Site Development
7.3 Plant Machinery
7.4 Cost of Raw Material
7.9 Other Capital Investment
8 Competitive Landscape & Supplier Analysis
8.1 Anglo American Plc
8.2 Southern Copper Corporation
8.3 Newmont Goldcorp Corporation
8.4 Norilsk Nickel PJSC
8.5 Northam Platinum Limited
8.6 North American Palladium Ltd
8.7 Newcrest Mining Limited
8.8 PJSC Polyus
8.9 Pan American Silver Corporation
8.10 Kinross Gold Corporation
8.11 Evolution Mining Ltd
8.12 Compania de Minas Buenaventura S.A.A
9 Events and Developments
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