SHOW X2
Need investment support? Book a call back now
Book an appointment

Global Silver Industrial Demand Forecast to Reach New High in 2023

The Silver Institute

January 2024

Category: Invest

Silver News Report Image - 700x700.png

 

In its latest article, published in December 2023, The Silver Institute reports that silver’s industrial demand is projected to surge by 8%, reaching a record high of 632 million ounces in 2023. This uptick is primarily fuelled by investments in photovoltaics, power grid infrastructure, 5G networks, expanding consumer electronics, and increased vehicle production.

However, despite these gains, a counterbalancing trend emerges as losses in other crucial segments are anticipated, resulting in an overall 10% decrease in total silver demand to 1.14 billion ounces.

Read the full article published by The Silver Institute here.

 

Related Articles

November 2023 Market Roundup

November 2023 Market Roundup

READ MORE
Silver Continues to Shine for US Jewellery Retailers

Silver Continues to Shine for US Jewellery Retailers

Read more
Indian Investors Embrace New Silver Trends

Indian Investors Embrace New Silver Trends

Read More
The Relevance of Silver in a Global Multi-Asset Portfolio

The Relevance of Silver in a Global Multi-Asset Portfolio

Read More
Feefo logo