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Fabricated Gold Market: Global Industry Analysis, Size, Share, Growth, Forecast 2019
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The market for gold fabrication was mainly driven by increasing demand from jewelry & art market. The demand has been increasing owing to growing disposable income and changing lifestyles of the consumers. In addition, gold is also used in fabrication of ornaments and idols which has huge demand from Asian countries. Electrical & electronics market is likely to open new markets for fabricated gold in near future due to gold fabricated devices. The major restraint for the market would be higher cost of gold as compared to other metals used for fabrication.
In terms of demand, Asia Pacific is the leading region for fabricated gold. The demand is higher from India and China and accounted for more than half of the global demand for fabricated gold. The demand is huge owing to large disposable incomes and larger number of high-net-worth individuals (HNIWs) in these countries. Asia Pacific was followed by European countries. The demand in North America is likely to grow in near future due to rising demand from electrical & electronics market. The Rest of the World is expected to exhibit higher demand for fabricated gold, especially from the Middle East countries where there are large numbers of HNIWs.
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