Global Precious Metals Market to hit $300.3B by 2031, driven by green tech, electronics demand, and rising consumption across Asia-Pacific and beyond.

SAN FRANCISCO, CA, UNITED STATES, May 23, 2025 /EINPresswire.com/ -- The global precious metals market achieved a valuation of US$ 209.4 billion in 2023 and is projected to reach US$ 300.3 billion by 2031, reflecting a 5.2% CAGR over the 2024-2031 forecast period. This sustained expansion is driven by a proliferation of industrial applications, a pivot toward green technologies and evolving consumer preferences across key regions.

Market Growth Drivers:

Increasing Precious Metals Demand in the Electronics Industry

As the push for green technology and renewable energy accelerates, the electronics industry’s appetite for precious metals is soaring. Silver, in particular, plays a vital role in the production of photovoltaic cells for solar panels an essential component in the global transition to clean energy. This surge in silver usage not only underscores its strategic importance but also highlights how sustainability initiatives are reshaping material requirements across the sector.

Simultaneously, China’s ambitious drive to expand its share of global semiconductor manufacturing is further fueling demand for refined metals. In July 2021, the National IC Fund of China committed US$ 39 billion, allocating nearly 70% of that investment to front-end fabrication facilities. Beyond the National Fund’s US$ 73 billion support package, over fifteen city-level industrial-community funds totaling an additional US$ 25 billion have been established to bolster domestic semiconductor and electronics firms. As these substantial investments translate into new manufacturing capacity, the need for precious-metal refining will climb in lockstep with the production of semiconductors, electronic components, and finished devices

Market Restraints:

Environmental Footprint of Mining:
Mining operations for gold, platinum and other metals often involve extensive land disruption, water contamination and deforestation. Heightened scrutiny from regulators and pressure from civil-society groups are prompting stricter environmental controls, which can inflate operational costs and elongate project timelines.

Social and Governance Challenges:
Concerns over labor practices, community displacement and human-rights violations have placed a premium on ethical sourcing. Companies are increasingly subjected to reputational and legal risks if their supply chains fail to meet emerging “conflict-free” and “fair-labor” standards, potentially constraining market growth.

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Market Segments
• By Type (Gold, Silver, Platinum, Palladium, Ruthenium, Rhodium, Iridium, Osmium, Others)
• By Application (Jewelry, Electronics, Automotive, Chemicals, Catalysts, Others)
• By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa)

Market Regional Insights:
Asia-Pacific: A Powerhouse of Consumption
Accounting for over one-third of global consumption, the Asia-Pacific region leads in both demand and production of precious metals. In China and India—where gold and silver carry deep cultural and ceremonial value—consumer buying remains robust for weddings, festivals and investments. Beyond cultural drivers, Japan and South Korea’s advanced electronics and automotive sectors fuel industrial demand for silver, palladium and platinum.

North America and Europe: Technology and Investment Hubs
In North America, stringent emissions regulations accelerate demand for catalytic-converter metals. Meanwhile, Europe’s green-energy directives spur deployment of solar installations and fuel-cell infrastructure, bolstering silver and platinum markets. Investor appetite for precious-metal-backed exchange-traded funds (ETFs) also endures as a hedge against macroeconomic volatility.

Latin America and Middle East & Africa
Rich mining belts in Latin America (notably Peru, Chile and Mexico) and Africa (South Africa and Zimbabwe) contribute substantially to global metal supplies. However, shifting political landscapes and regulatory reforms can lead to production volatility.

Competitive Landscape
Key global players driving innovation, sustainability and market penetration include:
• Newmont Corporation
• Barrick Gold Corporation
• Anglo American Platinum Limited
• Impala Platinum Holdings Limited
• Norilsk Nickel
• Wheaton Precious Metals
• Polyus Gold International Limited
• Kinross Gold Corporation
• Sibanye-Stillwater
• Royal Gold, Inc.

Market Highlights
Silvercorp Metals Inc. – OreCorp Limited (2023):
Silvercorp’s binding acquisition of all remaining OreCorp shares under an Australian scheme of arrangement positions the combined entity with a pro forma market cap of US$ 630 million, a diversified asset portfolio and exposure to a burgeoning West African jurisdiction.

A-Mark Precious Metals, Inc. – LPM Group Limited (2024):
A-Mark’s purchase of LPM, a leading Asian precious-metals merchant, is slated to close by February 2024, pending customary approvals. This move expands A-Mark’s footprint in fast-growing Asian markets.

Anglo American Platinum Limited (Amplats)
Anglo American plans to retain a 19.9% stake in Amplats following a demerger scheduled for June 2025. The move aims to manage share sales post-demerger and includes a $600 million special dividend from Amplats. This strategic overhaul is part of Anglo American's efforts to fend off a takeover approach from BHP and to refocus on core operations.

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Sai Kiran
DataM Intelligence 4market Research LLP
+1 877 441 4866
sai.k@datamintelligence.com
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