Precious Metals Chemicals is expected to grow possess significant economic value of CAGR, electrical, chemical, metal | Market Research Future (MRFR)
Precious
Metals, also called as noble metals are rare and possess significant economic
value. They are inert in nature and exhibits high ductility, excellent
electrical conductivity, luster, and superior chemical resistance. Owing to its
relatively inert nature, they find widespread applications in jewelry and
electronics industries.
Market Segmentation
The
Global Precious Metals Market has been categorized on the basis of Type,
Application, End-Use Industry and Region.
By Type, the Global
Precious Metals Market has been classified into gold, silver, and platinum
group metals. The platinum group metals segment has been further segmented into
platinum, palladium, ruthenium, rhodium, osmium, and iridium.
On the basis of Application,
the Global Precious Metals Market has been divided into jewelry, investments,
electronic components, dentistry, computer parts, cutlery, photography, and
others.
Based on End-Use Industry, the
Global Precious Metals Market has been categorized into electronics, medical,
automotive, aerospace, oil & gas, and others.
The
Global Precious Metals Market has been analyzed across five key regions,
namely, Asia-Pacific, North America, Europe, Latin America, and the Middle
East & Africa.
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Competitive Analysis
Some
of the market players involved in the Global Precious Metals Market are Newmont
Mining Corporation. (US), Hycroft Mining Corporation (US), Freeport-McMoRan
(US), Norilsk Nickel (Russia), Anglo American (UK), Sumitomo Metal Mining Co.,
Ltd. (Japan), Asahi Refining (US), Russian Platinum (Russia), Barrick Gold
Corporation (Canada), GOLDCORP INC. (Canada), Kinross Gold Corporation
(Canada), Lonmin Plc (South Africa), and PAN AMERICAN SILVER. (Canada).
Regional Analysis
The
Global Precious Metals Market has been studied for five major
regions, namely Asia-Pacific, North America, Latin America, Europe, and
the Middle East & Africa.
The
Asia-Pacific is the leading market due to the growing demand for Precious
Metals such as gold and silver in jewelry making. China is the leading market
in the region owing to the rising investments of gold and silver, growing
retail outlets of jewelry, increasing disposable income, and healthy growth of
the electronics industry. The North American market is projected to
register the highest CAGR during the forecast period due to large mining
activities and recovery of economy.
The
Global Precious Metals Market has been segmented on the basis of Type,
Application, and End-Use Industry.
Based on Type, the Global
Precious Metals Market has been divided into gold, silver, and platinum group
metals. The gold segment was the largest in 2017 and is expected to continue
its dominance during the forecast period due to the surging demand for gold in
jewelry, awards, bullion and coins as investment, dentistry, and in
microelectronics. The market for silver is projected to grow at the highest
CAGR in the following years owing to its low cost and surging demand in diverse
applications such as electronics, photography, cutlery, medical, and
investments.
By Application, the Global
Precious Metals Market has been categorized into jewelry, investments,
electronic components, dentistry, computer parts, cutlery, photography, and
others. The jewelry segment dominated the Precious Metals Market in 2017 owing
to the product’s inert nature, aesthetic appeal, and ductility. Increasing
purchasing power and surging demand for the personal adornment are the key
factors anticipated to drive the market growth during the forecast period. The
investments segment is projected to grow at the highest CAGR during the
assessment period owing to the growing demand for gold and silver in coins,
bars, and bullion. These precious metals are a good investment during financial
crisis and inflation.
On the basis of End-Use Industry,
the Global Precious Metals Market has been segmented into electronics, medical,
automotive, aerospace, oil & gas, and others. The electronics industry
segment was the largest in 2017 owing to the rising consumption of gold and
silver in photovoltaic cells, batteries, computer parts, and smart phones. The
medical industry is estimated to register the highest CAGR in the coming years
due to the rising applications in dental crowns and fixtures, cancer treatment,
and antibiotics.
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