Precious Metals Market Outlook, Size, Demand, Price Trends, Business Opportunities and Forecast 2023-2028

The latest report published by IMARC Group, titled "Precious Metals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," offers a comprehensive analysis of the industry, which comprises insights on the market trends. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global precious metals market size reached US$ 198.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 267.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.49% during 2023-2028.

Year Considered to Estimate the Market Size:

• Base Year of the Analysis: 2022

• Historical Period: 2017-2022

• Forecast Period: 2023-2028

Precious Metals Market Trends:

The rising demand for precious metals due to changing lifestyles and increasing consumer disposable incomes represents one of the primary factors accelerating the market growth. Additionally, the escalating environmental awareness has compelled key market players to invest heavily in recycling precious metals, which, in turn, is positively supporting the market growth. Moreover, the surging product application in medical devices, such as heart pacemakers and artificial cochlea, and stringent emission regulations imposed by governments of various nations are contributing to the market growth. Other factors, such as the increasing trend of investing in precious metals, growing recognition of the value and versatility of precious metals, and rapid technological innovations, are providing an impetus to the market growth.

Download a free sample report to get a detailed overview of the market: https://www.imarcgroup.com/precious-metals-market/requestsample

Precious Metals Market 2023-2028 Competitive Landscape and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the precious metals market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Anglo American Platinum Limited (Anglo American PLC)
• Barrick Gold Corporation
• First Majestic Silver Corp.
• First Quantum Minerals Ltd.
• Freeport-Mcmoran Inc.
• Fresnillo Plc (Peñoles Group)
• Gabriel Resources Ltd.
• Glencore International AG
• Gold Fields Limited
• Harmony Gold
• Impala Platinum Holdings Limited
• Lundin Mining Corporation
• Pan American Silver Corporation.

Key Market Segmentation:

The report has segmented the global precious metals market based on metal type, application and region.

Breakup by Metal Type:

• Gold:
o Jewelry
o Investment
o Technology
o Others

• Platinum:
o Auto-catalyst
o Jewelry
o Chemical
o Petroleum
o Medical
o Others

• Silver:
o Industrial Application
o Jewelry
o Coins and Bars
o Silverware
o Others

• Palladium:
o Auto-catalyst
o Electrical
o Dental
o Chemical
o Jewelry
o Others

• Others

Breakup by Application:

• Automotive
• Electronics
• Jewelry
• Chemicals
• Others

Breakup by Region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

Ask Analyst for 10% Free Customized Report: https://www.imarcgroup.com/request?type=report&id=2351&flag=C

Industry Definition and Application:

Precious metals are rare and valuable metallic elements with high ductility and luster. The most recognized precious metals include gold, silver, platinum, and palladium. They are extracted from the earth through mining and refining processes and then shaped and processed into a desired form. They offer various advantages, such as durability, high electrical conductivity, and resistance to corrosion, making them ideal for use in jewelry and industrial applications. Besides this, precious metals are used in electronic devices due to their non-reactive properties and as valuable assets for investment purposes.

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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This release was published on openPR.