Precious Metals Market type Phenomenal Growth, Booming Share, Key Players Review, Industry Segments and Business Development by 2027
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,