Precious Metals Market Trends, Applications, Analysis, Growth, And Forecast: 2018 To 2027
Overview:
Alpha-methylstyrene (AMS) is an insoluble colorless
liquid with an aromatic odor. AMS is obtained as a 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.
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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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).
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.
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.
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