Precious Metals Market Outlook: Global Size, Share, Trends, Growth Analysis and Research Report 2023-2028

SHERIDAN, WY, USA, February 27, 2023 /EINPresswire.com/ -- 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 represent naturally occurring elements that are distinguished by their high luster. These metals are hard, less reactive, rare, and have high economic value compared to base elements. They are malleable, resistant to corrosion, ductile, and good conductors of heat and energy. In addition, precious metals, such as silver, platinum, gold, and palladium, are also used as valuable assets for investment purposes. They are considered to be a suitable portfolio fence and diversifier against inflation that enables unique opportunities. As a result, precious metals find widespread applications in the manufacturing of consumer electronics, automobiles, jewelry, chemicals, and medical equipment across the globe.

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Precious Metals Market Trends:

The changing lifestyles and the inflating disposable incomes of individuals are among the primary factors driving the precious metals market. Besides this, the escalating product demand in the production of art and jewelry, owing to its aesthetic appearance and significant value, is further augmenting the market growth. Moreover, the leading players across various industry verticals are investing in the recycling of precious metals that can be utilized for manufacturing heart pacemakers and artificial cochlea, on account of the rising environmental concerns, which are also catalyzing the global market. Apart from this, the launch of several policies by the government bodies to promote the product usage for purifying exhaust gases in automobiles is acting as another significant growth-inducing factor. Additionally, the growing popularity of gold in designing picture frames and furniture items is also stimulating the market growth. Furthermore, the elevating requirement for these elements in the fabrication of memory chips and microprocessors integrated into smartphones and laptops is anticipated to propel the precious metals market over the forecasted period.

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

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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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About Us
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.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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IMARC Services Private Limited
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