Precious Metals Market Set to Shine: Forecasts Show Robust Growth Through 2030
Precious Metal Market Growth & Trends According to a recent report by Grand View Research, Inc., the global precious metal market is projected to attain a valuation of USD 865.3 billion by 2030, expanding at a compound annual growth rate (CAGR) of 9.1% from 2025 to 2030. One of the primary drivers of this growth is the increasing utilization of precious metals across a wide range of industrial applications, which continues to enhance their global demand and market value. Precious metals—including gold, silver, and platinum group metals (PGMs) such as platinum and palladium—serve critical functions across multiple industries. In the automotive sector, platinum and palladium are key materials used in automotive catalytic converters, which help in reducing harmful emissions from internal combustion engines. Additionally, these metals function as catalysts in the chemical industry, supporting the production of essential chemicals like nitric acid and fertilizers. The broader...