Global precious metals market expected to reach USD 450 Billion by 2026. The anticipated CAGR for the precious metals market is around 6% from 2020 to 2026.
NEW YORK, UNITED STATES, June 22, 2020 /EINPresswire.com/ — Facts and Factors have authored “Precious Metals Market By Type (Gold, Silver, Platinum, Palladium, Others) and By End-User (Individual, Broker): Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2019–2026”. The rising demand for the global precious metals market in 2019 was above USD 290 Billion and is expected to reach above USD 450 Billion by 2026. The anticipated CAGR for the precious metals market is around 6% from 2020 to 2026.
The precious metals are a metallic element that is natural, rare, and difficult to find. Due to its rarity, precious metals have high economic value. Precious metals are solid at room temperature and possess high luster and are usually ductile. They are good conductors of electricity and heat. Predominantly they are referred to as an investment. They are less reactive than other elements. Platinum and gold are prominent metals while silver and other metals are used in industrial applications. All these metals are well known due to their use in art and jewelry.
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Due to increasing uncertainty in the market, most stockholders are looking for a safe haven in the precious metals commodity. Growing mining sectors are expected to boom the precious metals market. The growing use of precious metals in several industries such as electronics,chemical, jewelry, automotive, oil, and gas, etc. is driving precious metals market growth. Growing consumption of gold and platinum is the major driver of the market. Precious metals are very expensive, if they are not polished properly, they become impure and may lose their luster and make them dull. This factor may curb the growth of the market. Illegal gold mining, political instability may impede market growth. The use of metals such as gold, silver, platinum, etc. in the jewelry, and in investment offers a lucrative opportunity for market growth.
By type segment, the precious metals are divided into gold, silver, platinum, palladium, and others. Among these, the gold category highly penetrated the market in 2019, it accounted for more than 40% market share of the global precious metals market. Gold was followed by silver and platinum in 2019. Furthermore, the silver category is expected to grow with high demand globally throughout the estimated period 2020-2026.
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By end-user, the global precious metals market is classified into individual, and broker. The individual segment is anticipated to grow in the near future. Increasing interest and knowledge of customers regarding trading is supporting the segment growth. Growing awareness regarding investments and stocks among the people is increasing the customer base for the individual application segment.
By geography, the Asia-pacific region dominated the global precious metals market in 2019. The Asia-pacific region was valued at around USD 140 billion in 2019, owing to the rising demand for gold and silver in various countries of this region. Low-interest rates and negative yields, with stringent monetary policies in developing and developed countries may project the precious metals market’s growth.
Key players holding the top position in the precious metals market are AvaTrade, XM Global Limited, XTB, Pepperstone, AxiTrader, EToro Ltd., Forex.com, Plus500 Ltd., Henyep Capital Markets (HYCM), iForex, Goodwill Wealth Management Private Limited, and others.
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This report segments the precious metals market as follows:
Global Precious Metals Market: By Type Analysis
Global Precious Metals Market: By End-User Analysis
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Source: EIN Presswire