Precious Metals Industry Size, Industry Experts on Current Key Players, Forecast Report by 2028

Nov 23, 2022 · ,

The global precious metals industry size is expected to gain momentum by reaching USD 403.08 billion by 2028 from USD 275.40 billion in 2021, while exhibiting a CAGR of 5.6% between 2021 to 2028. In its report titled “Precious Metals Market, 2021-2028,” Fortune Business Insights™ mentions that the market stood at USD 261.94 billion in 2020.

The increasing investments in a commodity such as gold due to its low-risk factor compared to other investments such as equities, bonds, or real estate are fueling the market. Moreover, gold, silver, and platinum are the most preferred metals to produce jewelry due to their luster and malleability. Therefore, the increasing demand for jewelry from consumers is resulting in market growth.

Fortune Business Insights™ lists out all the precious metals market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

Newmont Corporation (U.S.) Barrick Gold Corporation (Canada) AngloGold Ashanti Limited (South Africa) Kinross Gold Corporation (Canada) Newcrest Mining Limited (Australia) Gold Fields Limited (South Africa) Freeport-McMoRan (U.S.) PJSC Polyus (Russia) Anglo American Platinum Limited (South Africa) Impala Platinum Holdings Limited (South Africa) Other Players What does the Report Provide?

The market report provides a detailed analysis of several factors, such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborate to contribute to the growth of the market.

Market Segmentation:

By type, the market for precious metals is divided into silver, gold, and platinum group metals. By application, it is divided into industrial, jewelry, investment, and others.

Based on type, the platinum segment held the largest market share of 26.1% in 2020. This is attributable to its increased demand in the auto-catalysts application. Moreover, platinum has the ability to capture carbon and other harmful emissions. Therefore, industries are increasingly using platinum group metals to curb pollution.

Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Key Industry Development

January 2020: Kinross Gold Corporation acquired Chulbatkan from N-Mining Limited, worth USD 283 million. It is a high-quality heap leap development project in Russia.

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