Silver consumption accounted for 37,704 tons in 2016 and expected to reach 49,860 tons by 2022 growing at a CAGR of 4.6% from 2017 to 2022.

Portland, OR -- (SBWire) -- 07/06/2018 --The global silver consumption accounted for 37,704 tons in 2016 and expected to reach 49,860 tons by 2022, growing at a CAGR of 4.6% from 2017 to 2022. Silver is white, soft, and glossy metallic element, which exhibits high thermal conductivity, electrical conductivity, and reflectivity. It is found in its pure & free elemental form in earths crust, with gold & other metals as an alloy, and in minerals such as chlorargyrite & argentite. It is produced as a byproduct during gold, copper, zinc, and lead refining.

For centuries, silver is being used for jewelry, currency, and as a long-term investment option. It is one of the most invested precious metal commodity, and carries few similar properties as gold with lesser cost and can be a remarkable substitute metal for gold. Furthermore, advancement in techniques in ore separation and improvements in electrorefining techniques increase the production of refined silver.

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On the basis of application, the global silver market is segmented into metallurgical additives, pharmaceuticals & chemicals, fusible alloys, solders & ammo, and others. The geographical breakdown and analysis of each of the aforementioned segments are covered for China, Mexico, Canada, Bolivia, Russia, Vietnam, and others.

Market Dynamics

Drivers

Rise in utilization of sliver for industrial applications
Increase in use in medicine, owing to its ability to resist the growth of microbes
Inexpensive alternative for gold
Restraints

Volatility in economic growth
Need for more complex and expensive refineries
Market Players

The top players operating in the global silver market include Yunnan Copper Company, Xinda Silver Industry Co., Ltd., Jiangxi Copper, Shandong Zhaojin Group Co., Ltd., Shandong Humon, Xiangguang Copper, Yunnan Tin, Fresnillo Plc., KGHM Polska Mied S.A, Polymetal International Plc., Boliden, Baiyin Nonferrous Metals Corporation, Henan Yuguang, Zijin Mining, Henan Jinli, Yubei Yelian, Minshan Group, Hunan Yuteng, Daye Nonferrous Metals Group Holdings Co., Ltd., Hunan Jinwang, and others.

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KEY TAKEAWAYS

MARKET LANDSCAPE

By Application

Industrial Applications
Jewelry & Silverware
Coins & Bars
By Geography

U.S.
Market Share Analysis of Leading Players
Canada
Market Share Analysis of Leading Players
Mexico
Market Share Analysis of Leading Players
Bolivia
Market Share Analysis of Leading Players
Russia
Market Share Analysis of Leading Players
Poland
Market Share Analysis of Leading Players
China
Market Share Analysis of Leading Players
Australia
Market Share Analysis of Leading Players
Peru
Market Share Analysis of Leading Players
Chile
Market Share Analysis of Leading Players
Others
Market Share Analysis of Leading Players