Precious Metals Market Increasing at A Phenomenal Pace to Reach USD 240.08 Billion by 2028

Some of key players in precious metals market are Barrick Gold, Goldcorp Freeport McMoRan Copper & Gold Inc., First Quantum Minerals, Gold Fields Limited, Goldcorp Inc., Gabriel Resources Ltd., Lundin Mining, North American Palladium Ltd., Harmony Gold Mining Company Ltd., BASF, Clariant, Johnson Matthey, Umicore Galvanotechnik GmbH, GlencoreXstrata, and Evonik Industries AG, among others. These players are set to bolster the development of global precious metals market.

According to analysts at Zion Market Research, the global precious metals market accounted for USD 142.54 Billion in 2020 and is expected to reach USD 240.08 Billion by 2028, growing at a CAGR of more than 7.6% from 2021 to 2028.

This review is based on a report by Zion Market Research, titled “Precious Metals Market By Type (Platinum, Gold, Ruthenium, Palladium, Silver, and Others), By End-Use Industry (Automotive, Electronics, Jewelry, Chemicals, Investment, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”

The wedding market segment to Spur Growth

Gold and silver, specifically in jewelry market, is estimated to witness a steady growth over the forecast period. Gold and silver have played an important part in marriages, especially in China and India. A significant amount of gold and silver is used in the form of ornaments and jewelry. The wedding market segment of India and China is likely to show numerous growth opportunities for the gold and silver jewelry market over the coming years.

Precious metals like gold are also used for investment purposes. It is usually traded in stock exchange market associated with decreasing share prices attributed to its intensifying high prices.

Presence of Big Players in The Region Support Asia Pacific Dominance

Asia Pacific accounted for a share of around 35% in 2020. China has an extensive influence over the precious metals market. The country is leading in consumption of gold and PGM. Strong manufacturing sector of China is the main factor spurring the demand in the country. India is the second largest consumer for gold in Asia Pacific. India also has a strong jewelry market due to the wedding industry. Similarly, the country is also evolving its capabilities in manufacturing industry by attracting foreign investors in the field of energy, construction, automotive, chemical, and many more.

Browse the full “Precious Metals Market By Type (Platinum, Gold, Ruthenium, Palladium, Silver, And Others), By End-Use Industry (Automotive, Electronics, Jewelry, Chemicals, Investment, And Others): Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/precious-metals-market

The global precious metals market is segmented as follows:

By Type

• Platinum
• Gold
• Ruthenium
• Palladium
• Silver
• Others

By End-Use Industry

• Automotive
• Electronics
• Jewelry
• Chemicals
• Investment
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

About Us:

Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Contact Us:

Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: https://www.zionmarketresearch.com