Global Silver Ore Market Report 2023: Forecast Market Size, Growth Rate And Key Drivers
12 Jul, 2023
The global silver ore market size is expected to grow from $6.74 billion in 2022 to 7.39 billion in 2023 at a compound annual growth rate (CAGR) of 9.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global silver ore market size is expected to reach $10.48 billion in 2027 at a CAGR of 9.1%.
Global Silver Ore Market Key Driver
Growing demand for silver in jewellery and industrial uses is likely to drive the silver ore market forward. Because of its lustre, affordability, and durability, silver is a popular metal for jewellery. As the world economy has risen, more individuals have been able to purchase jewellery, increasing demand for silver ore. Silver investment bars and coins are in high demand, and use in the silver jewellery and silverware industries is increasing.
Get a sample of the global silver ore market reportGlobal Silver Ore Market Segments
The global silver ore market is segmented:
1) By Type: Acanthite, Proustite, Pyrargyrite, Others
2) By Applications: Jewelry, Electronics And Electrical, Photography, Medicine
3) By Geography: The regions covered in the silver ore market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global silver ore market.
Major Silver Ore Industry Players
Industrias Peñoles, Volcan Compania Minera S A A, Glencore plc, Compania de Minas Buenaventura S A A, Hindustan Zinc Ltd., Polymetal International Plc, First Majestic Silver Corp, Hochschild Mining Plc, Newmont Goldcorp, KGHM Polska Miedz SA, Pan American Silver Corporation, Asahi Refining, Endeavour Silver Corporation, Wheaton Precious Metals Corporation, Hecla Mining Company, Fresnillo
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Silver Ore Market Overview
Silver ore is a type of rock or mineral from which silver metal can be extracted. Silver ore is often found in combination with other valuable metals, such as gold, zinc, and copper, and is commonly mined from underground veins or open-pit mines.
Silver Ore Global Market Report 2023 provides data on the global silver ore market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The silver ore market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.