About Silver-
Silver is a soft, white, lustrous transition metal that exhibits the highest electrical conductivity, thermal conductivity, and reflectivity of any metal. Silver is typically found in nature in conjunction with other metals or in minerals containing silver compounds, most commonly in the form of sulfides. Silver used in the production of jewelry, coins, electronics, and photography.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 9.61% |
Silver is a fragmented market due to the presence of less players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that China Vendors will contribute the maximum growth to Global Silver- market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Coeur Mining (United States), Henan Yuguang Gold and Lead (China), Goldcorp (Canada), Grupo Mexico (Mexico), Boliden (Sweden), Zijin Mining Group (China), Barrick Gold (Canada), Pasminco (Australia), Glencore Xstrate (Switzerland), Western Mining (China), Fresnillo (Mexico), Yunnan Chihong Zn&Ge (China), BHP Billion (Australia) and KGHM Polska Miedsz (Poland) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Pan American Silver (Canada), Jiangxi Copper (China), Tongling Nonferrous Metals (China) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Silver- market by Type (Fine Silver, Sterling Silver, German Silver, Coin Silver, Britannia Silver, Mexican Silver, Russian Silver, Oxidized Silver and Others), Application (Silverware, Industrial, Jewellery, Photographic Films, Electrical & Electronics, Pharmaceutical, Food & Beverages, Clothing & Textile and Others) and Region.
On the basis of geography, the market of Silver- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Growing interest in sustainable and responsibly sourced silver products. and Advancements in silver nanoparticles for medical and industrial applications
Market Growth Drivers:
Rising demand for silver in jewelry and silverware., Increasing use of silver in the healthcare industry, particularly in antimicrobial applications. and Rise in renewable energy technologies, such as photovoltaic cells.
Challenges:
Stricter environmental regulations affecting silver production. and Consumer education on the benefits and uses of silver.
Restraints:
Price volatility of silver affecting production costs., Limited availability of silver resources. and Environmental concerns related to silver mining and extraction processes
Opportunities:
Development of silver-based catalysts for chemical processes. and Investment in research and development for new silver technologies.
Market Leaders and their expansionary development strategies
In March 2023, Pan American Silver Corp announced the USD 4.8 billion acquisition of all the issued and outstanding common shares of Yamana Gold, following the sale by Yamana of its Canadian assets, including certain subsidiaries and partnerships. With this acquisition, the company expects a material increase in the production of silver and gold, while also continuing to provide a preferred way to invest in silver through large silver mineral reserves and growth opportunities.
In April 2023, Impact Silver Corp. announced the completion of the share purchase and sale agreement with Consolidated Zinc Limited of Australia, the purchase of all outstanding shares of its subsidiary, Minera Latin America Zinc S.A.P.I de C.V., which holds a 100% interest in the high-grade, Plomosas zinc-lead-silver mine in the state of Chihuahua, northern Mexico.
Key Target Audience
Silver Manufacturer, Silver Provider, Investor, Research and Development, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.