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Precious Metals Market is expected to grow at 9.1 % through 2024 to 2030, reaching nearly US$ 474.65 Bn Says Maximize Market Research
Precious Metals Market
The Precious Metals Market was valued at USD 257.98 billion in 2023 and is projected to grow at a CAGR of 9.1%, reaching USD 474.65 billion by 2030. This market includes metals such as gold, silver, platinum, and palladium, which are known for their scarcity, ductility, and high economic value. These metals have broad applications in industries such as jewelry, electronics, automotive, chemical, and medical devices.
๐๐จ๐ฎ๐ซ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฌ ๐๐ฎ๐ฌ๐ญ ๐ ๐๐ฅ๐ข๐๐ค ๐๐ฐ๐๐ฒ:https://www.maximizemarketresearch.com/request-sample/65161/
Drivers in the Precious Metals Market:
The precious metal market is growing attributed to increasing discretionary income and constantly changing lifestyle preferences. The strong demand for jewellery at wedding rituals in China, India, as well as other South East asian countries, for example, is expected to increase precious metals production. In comparison to equities, bonds, and cryptocurrency, gold is regarded a safe refuge for capital.
๐๐ฅ๐ข๐๐ค ๐๐๐ซ๐ ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐ ๐จ๐ซ ๐๐จ๐ซ๐ ๐๐๐ญ๐๐ข๐ฅ๐ฌ:https://www.maximizemarketresearch.com/request-sample/65161/
Precious Metals Market Trends:
Active components with a high brilliance are known as precious metals. In comparison to base metals, certain metals are scarce, hard, and have a high economic worth. They're ductile, malleable, corrosion-resistant, and excellent electricity and heat conductors. As a result, they're used in jewellery, consumer electronics, autos, chemicals, and medical devices all around the world. Gold, silver, platinum, and palladium are financially attractive metals.
Precious Metals Market Opportunities:
Environmental and legal restrictions: Stringent regulations related to mining practices and their environmental impact may impede market growth.
Economic volatility: The effects of economic downturns, like the one witnessed during the COVID-19 pandemic, can affect demand for precious metals.
๐๐ฅ๐ข๐๐ค ๐ก๐๐ซ๐ ๐๐จ๐ซ ๐๐ซ๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ + ๐ซ๐๐ฅ๐๐ญ๐๐ ๐ ๐ซ๐๐ฉ๐ก๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ:https://www.maximizemarketresearch.com/request-sample/65161/
What is Precious Metals Market Regional Insight?
Asia-Pacific: Dominates the market with 37% market share, largely driven by demand from India and China for both jewelry and industrial uses.
North America: Expected to see significant growth, bolstered by strong silver production in the U.S. and Canada, as well as optimized value chains.
Segmentation Analysis of the Precious Metals Market:
by Type
Gold
Silver
Platinum
Palladium
Osmium
Iridium
Ruthenium
Rhodium
by Applications
Jewellery
Industrial
Electronics
Automotive industry
Chemical
Medical
Others
๐ ๐จ๐ซ ๐ฆ๐จ๐ซ๐ ๐ข๐ง๐๐จ๐ซ๐ฆ๐๐ญ๐ข๐จ๐ง ๐๐๐จ๐ฎ๐ญ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ฏ๐ข๐ฌ๐ข๐ญ: https://www.maximizemarketresearch.com/market-report/global-precious-metals-market/65161/
Who is the largest manufacturers of Precious Metals Market worldwide?
1. Anglo American
2. Barrick Gold
3. Impala Platinum
4. Lonmin
5. Newmont Mining
6. Johnson Matthey
7. Goldcorp
8. Norilsk Nickel
9. Northam Platinum
10.North American Palladium
11.Freeport-McMoRan
12.First Quantum Minerals
13.Fresnillo plc
14.Pan American Silver Corporation
15.Kinross Gold
Key Offerings:
โข Past Market Size and Competitive Landscape
โข Precious Metals Market Size, Share, Size & Forecast by different segment
โข Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
โข Precious Metals Market Segmentation - A detailed analysis by Product
โข Competitive Landscape - Profiles of selected key players by region from a strategic perspective
โข Competitive landscape - Market Leaders, Market Followers, Regional player
โข Competitive benchmarking of key players by region
โข PESTLE Analysis
โข PORTER's analysis
โข Value chain and supply chain analysis
โข Legal Aspects of business by region
โข Lucrative business opportunities with SWOT analysis
โข Recommendations
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About Us
Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.
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