Latest News- Precious Metals Market: Gold is expected to lead the Type segment during 2025-2029

The Precious Metals Market is being driven by Precious metals shine as safe havens amid economic turbulence

The Precious Metals Market is expected to grow at a CAGR of 6.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 105.3 billion. The precious metals market is experiencing a significant shift as Environmental, Social, and Governance (ESG) considerations increasingly influence the industry. Mining companies are responding to this trend by implementing sustainable and ethical practices, addressing environmental concerns through responsible mining processes, carbon emission reduction, and reclamation projects. For instance, Newmont Corporation, a leading gold miner, prioritizes water management and biodiversity protection. Investors are favoring ESG-compliant enterprises, leading to increased financial inflows towards companies demonstrating high ESG performance. Furthermore, MKS PAMP GROUP, a strategic partner in the precious metals sector, recently announced a partnership with Karo Sambhav to enhance e-waste recycling and recover precious metals and critical raw materials in India. This collaboration underscores the industry's commitment to sustainable practices and circular economy principles. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Gold
  • Silver
  • Platinum
• Application
  • Industrial
  • Jewelry
  • Investment
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Precious metals shine as safe havens amid economic turbulence
• Growing use of precious metals in electronics, renewable energy, and medical sectors
• Rising middle-class populations

However, the market also witnesses some limitations, which are as follows:

• Environmental concerns regarding mining and extraction processes
• Presence of counterfeit products in e-retailing space
• Shifting regulations around mining, trading, and environmental standards

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Market Scope in Precious Metals Market Research Report

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Research Analysis Overview

The Precious Metals Market encompasses various processes and techniques, including ore grade estimation, refining process optimization, metal purity verification, alloy microstructure control, precious metal valuation, metallurgical engineering, chemical analysis methods, material property testing, surface finish quality, wastewater treatment methods, and environmental regulations compliance. Industrial applications span from jewelry manufacturing techniques and electronic component fabrication to catalytic reaction kinetics, nanomaterial characterization, and electrochemical processes. Metallurgical engineering principles guide material degradation analysis, corrosion inhibition strategies, alloy design, and metallographic examination. Quality control procedures, process efficiency improvement, cost reduction strategies, supply chain management, investment casting processes, precious metal trading, precious metal investment, metal recycling technologies, and nanomaterial synthesis are essential aspects of the market.

Market Research Overview

The precious metals market encompasses the refining and processing of precious metals, including gold, platinum group metals (PGMs), and silver alloys. Gold karat testing is a crucial aspect of the gold market, ensuring the authenticity and purity of the precious metal. PGMs, such as palladium, are essential components in various industries, notably catalytic converters. The diversified metals and mining industry, a sector within the global metals and mining market, includes companies specializing in the production or extraction of non-ferrous metals, such as lead, nickel, tin, and PGMs, as well as alloys and other minerals like phosphate rock and salt. Technavio's market analysis calculates the industry size based on the combined revenue generated by these companies, providing valuable insights into market trends and growth opportunities.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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