Precious and Base Metals Market has witnessed a growth from USD 2,098.52 Billion from 2022 to 2030 with a highest 12.5 % CAGR
The global precious and base metals market size reached USD 722.40 Billion in 2021 and is expected to register a revenue CAGR of 12.5% during the forecast period, according to latest analysis by Emergen Research. Rapid advancements in manufacturing technologies as well as increasing demand for high-performance base and precious metals from jewelry companies are major factors driving the market revenue growth. Precious metal additive manufacturing primarily based on laser beam powder bed fusion technology is gaining traction in the jewelry industry. Increasing application of precious and base metals in jewelry and watch-making activities is primarily attributed to their strong corrosion and thermal wear resistance properties.
Increasing demand for precious and base metals due to rising healthcare applications is a major factor driving the market revenue growth. For instance, the increasing population necessitates more access to innovative healthcare services. Platinum, which is a precious metal, is used to manufacture critical components for a variety of medical equipment such as pacemakers, implantable defibrillators, catheters, stents, and others. Platinum’s biocompatibility, durability, and electrical conductivity are key features that make it excellent for medical device applications.
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One of the report’s central components is the broad precious and base metals market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders. The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period. The key players’ financial positions, along with their gross profits, sales volumes, sales revenue, manufacturing costs, and other financial ratios, have been accurately gauged in the report. Furthermore, several analytical tools like investment assessment, SWOT analysis, and Porter’s Five Forces Analysis have been implemented by our analysts’ team to evaluate the production and distribution capacities of the precious and base metals market players.
Highlights of the TOC:
- Report Overview
1.1 Research Scope
1.2 Key precious and base metals market segments
1.3 Major players
1.4 Market analysis by product
1.5 Market analysis by application
1.6 Report timeline
- Global Growth Trends
2.1 Global precious and base metals market size
2.2 Latest precious and base metals market trends
2.3 Key growth trends
- Competitive Landscape
3.1 Global precious and base metals market key players
3.2 Global precious and base metals size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the precious and base metals market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances
Key geographical areas:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Leading Players Profiled in the Report:
Alcoa Corporation, Anglo American, BHP, Antofagasta plc, Freeport-McMoRan, First Quantum Minerals Ltd., Glencore, Lundin Mining Corporation, Rio Tinto, and Teck Resources Limited.
Some Key Highlights from the Report
- Copper segment accounted for a significant revenue share in 2021. Rapid adoption of Internet of Things (IoT)-based technologies and increasing demand for miniaturized devices and industrial equipment due to their portability are major factors driving the segment’s revenue growth. Copper is increasingly employed in the electrical and electronics industry because of its excellent electrical and thermal stability. In addition, copper is an energy-efficient metal that is employed in all aspects of electricity generation. It is also widely employed in a variety of applications, including microelectronics, personal computers, and household appliances. Increasing consumer awareness about the impacts of corrosion on electrical equipment is a crucial factor driving large-scale acceptance of copper in end-use industries. Copper’s corrosion resistance, impermeability, and non-inflammability ensure its long-term durability and reliability, as well as its cost efficiency. Copper and its alloys will gradually darken in color indoors but will not rust. This darkening has no effect on its ability to function. This is a critical characteristic of materials used in water pipes, gas pipes, taps, and electrical wires.
- Gold segment accounted for a significant revenue share in 2021. Increasing medical applications and significant investments in consumer electronics products are major factors driving the market revenue growth. Most electronic equipment operates on low voltages and currents, which are easily disrupted by corrosion or tarnish at the contact points. Gold can transport small currents while remaining corrosion-free because of gold’s effectiveness as a conductor. As a result, it can be frequently found in connectors, switch and relay contacts, soldered joints, connecting wires, and connection strips among others. Gold is also used in medicine. For instance, surgeons can place gold-plated medical instruments within the human body to diagnose various illnesses without the fear of corrosion.
- Automotive and Transportation segment accounted for a significant revenue share in 2021. Increasing demand for catalytic converters in the automotive industry is a major factor driving the market revenue growth in this segment. In addition, significant investments in platinum group metals is further anticipated to boost market revenue growth in this segment. For instance, platinum-cured silicones are utilized to coat and protect car airbags from explosive systems. This is owing mostly to the platinum treatment; these airbags remain stable and may be folded and packed for extended periods of time without deterioration. In addition, the airbags have an initiator sensor, which employs a fine platinum wire coated with explosive material to trigger the airbag.
- Market in North America accounted for the largest revenue share in 2021. Significant investments in the renovation of buildings and structures is a major factor driving the market revenue growth in this region. In addition, increasing demand for metal products that enable packaging industry professionals to protect against UV rays, water vapors, and oxygen is another key factor driving the market revenue growth in this region. For instance, aluminum enables ensuring long shelf life even after the product has been opened. In addition, it has recyclability properties. This means that a large proportion of the aluminum that has already been extracted is still in the recycling cycle and is used, for instance, in the building trade in the form of window frames or in the car industry.
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Key questions addressed in the report:
- What are the key factors driving the global precious and base metals market?
- Who are the key manufacturers in this market space?
- Who are the distributors, traders and dealers of this market?
- What are the market opportunities and risks affecting the performance of the vendors in the global precious and base metals market?
- What are the sales and revenue estimations for the top manufacturers in this market over the projected timeline?
How will this Report Benefit you?
An Emergen Research report of 250 pages features 194 tables, 189 charts, and graphics. Our new study is ideal for anyone who wants to learn about the global precious and base metals market commercially and deeply, as well as to analyze the market segments in depth. With the help of our recent study, you can analyze the entire regional and global market for precious and base metals. To increase market share, you must obtain financial analysis of the entire market and its segments. Our research suggests there are significant opportunities in this rapidly expanding market for energy storage technology. Look at how you might take advantage of these revenue-generating opportunities. Additionally, the research will help you develop growth strategies, strengthen competitor analysis, and improve business productivity by enabling you to make better strategic decisions.
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