United States Precious Metal Market to Grow at 5.2% CAGR, Led by Newmont Corporation, Barrick Gold, and Wheaton Precious Metals | DataM Intelligence

The global Precious Metal Market reached USD 209.4 billion in 2023 and is projected to reach USD 300.3 million by 2031, growing at a CAGR of 5.2% during the forecast period 2024-2031, according to DataM Intelligence.

United States: Recent Industry Developments

✅ In October 2025, Newmont Corporation announced the expansion of its Nevada Gold Mines complex, increasing gold production capacity by 15% through advanced extraction technologies.
✅ In October 2025, The U.S. Mint launched a new series of investment-grade platinum and palladium bullion coins to meet growing investor demand.
✅ In October 2025, Hecla Mining Company commissioned a new silver processing facility in Idaho, positioning it as the largest primary silver producer in the United States.

Japan: Recent Industry Developments

✅ In October 2025, Tanaka Kikinzoku Group opened a new precious metal recycling facility in Tokyo, focusing on recovery from electronic waste and catalytic converters.
✅ In October 2025, The Japanese government increased its strategic reserves of platinum group metals by 20% to secure supply for automotive and industrial applications.
✅ In October 2025, Mitsubishi Materials Corporation developed an advanced purification technology that increases platinum recovery efficiency by 30% from spent automotive catalysts.

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Market Trends & Drivers

The Precious Metal Market is experiencing robust growth driven by economic uncertainty, rising industrial demand, and increasing adoption in renewable energy technologies. Key trends include the expansion of recycling infrastructure, technological advancements in mining efficiency, and growing investment demand for inflation hedging. The transition to green energy, expanding electronics manufacturing, and geopolitical factors influencing supply security are significantly accelerating market demand across all precious metal categories.

Competitive Landscape

The market features strong competition among mining corporations, refining specialists, and recycling companies.

Newmont Corporation leads the gold mining sector with extensive operations across the Americas, Africa, and Australia.
Barrick Gold Corporation maintains major gold and copper mining operations with focus on tier-one asset portfolio.
Wheaton Precious Metals Corp. dominates the precious metals streaming business with agreements covering 20 operating mines.
Tanaka Kikinzoku Group is Japan's leading precious metal manufacturer and recycler with advanced refining technologies.
AngloGold Ashanti Limited operates significant gold mining assets across Africa, Australia, and the Americas.
Polymetal International PLC focuses on gold and silver mining in Russia and Kazakhstan with expanding processing capabilities.
Fresnillo PLC is the world's largest primary silver producer with extensive mining operations in Mexico.
Impala Platinum Holdings Limited leads in platinum group metals production with major operations in South Africa and Zimbabwe.
Sibanye-Stillwater Limited operates integrated precious metal mining and processing operations across multiple continents.
Heraeus Holding GmbH specializes in precious metal trading, refining, and recycling with global operations.

Segmentation

By Type (Gold, Silver, Platinum, Palladium, Ruthenium, Rhodium, Iridium, Osmium, Others)
By Application (Jewelry, Electronics, Automotive, Chemicals, Catalysts, Others)

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Regional Analysis:

⇥ North America (U.S., Canada, Mexico)
⇥ Europe (Germany, U.K., Switzerland, Russia, France, Spain, Rest of Europe)
⇥ Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia Pacific)
⇥ South America (Brazil, Peru, Chile, Argentina, Rest of South America)
⇥ Africa (South Africa, Ghana, Tanzania, Zimbabwe, Rest of Africa)

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✅ Import-Export Data Monitoring
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