World - Precious Metal Ores And Concentrates - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPrecious Metal Ore And Concentrate Market
The global market for precious metal ores and concentrates is projected to see continued growth in consumption, with China leading the way as the largest consuming country. Consumption has been on the rise, with notable growth in Brazil as well. Production and exports have also been increasing steadily, with Australia, Brazil, and Russia being the largest producers and exporters. Import prices have seen fluctuations over the years, with Germany having the highest import price per ton. Overall, the market is expected to see steady growth in the coming years.
Market Forecast
Driven by increasing demand for precious metal ores and concentrates worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market volume to 7.2M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +5.9% for the period from 2022 to 2030, which is projected to bring the market value to $106.3B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Precious Metal Ores And Concentrates
For the fifth year in a row, the global market recorded growth in consumption of precious metal ores and concentrates, which increased by 14% to 5.7M tons in 2022. Over the period under review, the total consumption indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +34.2% against 2016 indices. Global consumption peaked in 2022 and is expected to retain growth in the near future.
The revenue of the market for precious metal ores and concentrates worldwide stood at $67B in 2022, with an increase of 6.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed notable growth. As a result, consumption attained the peak level of $84.5B. From 2017 to 2022, the growth of the global market remained at a lower figure.
Consumption By Country
China (2.9M tons) remains the largest precious metal ore and concentrate consuming country worldwide, comprising approx. 51% of total volume. Moreover, precious metal ore and concentrate consumption in China exceeded the figures recorded by the second-largest consumer, Brazil (764K tons), fourfold. Mexico (245K tons) ranked third in terms of total consumption with a 4.3% share.
From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to +18.5%. The remaining consuming countries recorded the following average annual rates of consumption growth: Brazil (+10.8% per year) and Mexico (+1.9% per year).
In value terms, Brazil ($29.3B) led the market, alone. The second position in the ranking was held by China ($6.3B). It was followed by Papua New Guinea.
From 2012 to 2022, the average annual rate of growth in terms of value in Brazil totaled +10.8%. In the other countries, the average annual rates were as follows: China (+18.1% per year) and Papua New Guinea (-1.7% per year).
In 2022, the highest levels of precious metal ore and concentrate per capita consumption was registered in Namibia (39 kg per person), followed by Papua New Guinea (11 kg per person), Zimbabwe (8 kg per person) and Australia (4.4 kg per person), while the world average per capita consumption of precious metal ore and concentrate was estimated at less than 0.1 kg per person.
In Namibia, precious metal ore and concentrate per capita consumption increased at an average annual rate of +54.3% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Papua New Guinea (-2.2% per year) and Zimbabwe (+0.3% per year).
Production
World Production of Precious Metal Ores And Concentrates
In 2022, approx. 4M tons of precious metal ores and concentrates were produced worldwide; surging by 7.2% compared with 2021 figures. The total output volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by 31%. Global production peaked in 2022 and is likely to see steady growth in years to come.
In value terms, precious metal ore and concentrate production rose to $38.9B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 7.2% against the previous year. As a result, production attained the peak level of $39.6B. From 2021 to 2022, global production growth failed to regain momentum.
Production By Country
The countries with the highest volumes of production in 2022 were Brazil (765K tons), Australia (471K tons) and Russia (314K tons), together comprising 39% of global production.
From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +10.7%), while production for the other global leaders experienced more modest paces of growth.
Imports
World Imports of Precious Metal Ores And Concentrates
For the fifth year in a row, the global market recorded growth in supplies from abroad of precious metal ores and concentrates, which increased by 18% to 3.6M tons in 2022. In general, imports saw a remarkable increase. The pace of growth was the most pronounced in 2013 when imports increased by 37%. Over the period under review, global imports attained the maximum in 2022 and are likely to continue growth in years to come.
In value terms, precious metal ore and concentrate imports totaled $13.5B in 2022. Overall, imports posted a strong expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 27% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the near future.
Imports By Country
China dominates imports structure, reaching 2.9M tons, which was near 81% of total imports in 2022. Kazakhstan (133K tons), Namibia (103K tons), Russia (66K tons), Georgia (64K tons) and Germany (55K tons) held a relatively small share of total imports.
From 2012 to 2022, average annual rates of growth with regard to precious metal ore and concentrate imports into China stood at +18.4%. At the same time, Namibia (+223.2%), Georgia (+115.9%), Germany (+13.9%), Russia (+10.6%) and Kazakhstan (+3.4%) displayed positive paces of growth. Moreover, Namibia emerged as the fastest-growing importer imported in the world, with a CAGR of +223.2% from 2012-2022. From 2012 to 2022, the share of China, Namibia and Georgia increased by +16, +2.9 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, China ($6.6B) constitutes the largest market for imported precious metal ores and concentrates worldwide, comprising 49% of global imports. The second position in the ranking was held by Germany ($2.9B), with a 21% share of global imports. It was followed by Kazakhstan, with a 3% share.
From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +17.9%. In the other countries, the average annual rates were as follows: Germany (+16.6% per year) and Kazakhstan (-0.6% per year).
Import Prices By Country
The average import price for precious metal ores and concentrates stood at $3,761 per ton in 2022, which is down by -13.1% against the previous year. Overall, the import price recorded a noticeable reduction. The most prominent rate of growth was recorded in 2017 when the average import price increased by 14%. Global import price peaked at $5,119 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($52,105 per ton), while Georgia ($1,358 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+10.6%), while the other global leaders experienced mixed trends in the import price figures.
Exports
World Exports of Precious Metal Ores And Concentrates
In 2022, the amount of precious metal ores and concentrates exported worldwide stood at 1.9M tons, surging by 5.8% against the previous year's figure. Over the period under review, total exports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -1.6% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 25% against the previous year. The global exports peaked at 1.9M tons in 2020; afterwards, it flattened through to 2022.
In value terms, precious metal ore and concentrate exports fell modestly to $11B in 2022. Overall, exports enjoyed a moderate expansion. The pace of growth was the most pronounced in 2019 with an increase of 34%. The global exports peaked at $11.2B in 2021, and then dropped slightly in the following year.
Exports By Country
Australia (357K tons), Ecuador (264K tons), Russia (185K tons), Peru (154K tons), Kazakhstan (129K tons), Greece (125K tons), Kyrgyzstan (106K tons) and Mongolia (104K tons) represented roughly 76% of total exports in 2022. Turkey (58K tons), Tajikistan (44K tons), Colombia (40K tons), Georgia (30K tons) and South Africa (30K tons) followed a long way behind the leaders.
From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Tajikistan (with a CAGR of +202.2%), while the other global leaders experienced more modest paces of growth.
In value terms, the largest precious metal ore and concentrate supplying countries worldwide were South Africa ($1.9B), Australia ($1.8B) and Peru ($862M), together comprising 41% of global exports. Russia, Ecuador, Kazakhstan, Tajikistan, Turkey, Colombia, Kyrgyzstan, Mongolia, Georgia and Greece lagged somewhat behind, together accounting for a further 27%.
Tajikistan, with a CAGR of +122.1%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Export Prices By Country
In 2022, the average export price for precious metal ores and concentrates amounted to $5,914 per ton, declining by -6.6% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average export price increased by 22% against the previous year. The global export price peaked at $6,330 per ton in 2021, and then contracted in the following year.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Africa ($63,519 per ton), while Greece ($569 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+11.2%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global market for precious metal ore and concentrate. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 07291400 - Precious metal ores and concentrates
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
This report provides an in-depth analysis of the global market for precious metal ore and concentrate.
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