Burlingame, CA, May 10, 2025 (GLOBE NEWSWIRE) — The global precious metals market size is calculated at USD 327.47 billion in 2025 and is forecasted to reach around USD 533.12 billion by 2032, accelerating at a CAGR of 7.2% from 2025 to 2032.The market sizing and forecasts are revenue-based (USD Million/Billion), with 2024 as the base year. Rising disposable incomes and evolving lifestyle preferences are key factors fueling market growth.
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Global Precious Metals Market Key Takeaways
• According to Coherent Market Insights (CMI), the global precious metals market size is forecast to expand from USD 327.47 Bn in 2025 to USD 533.12 Bn by 2032, registering a CAGR of 7.2% throughout the forecast period.
• By metal type, gold segment is anticipated to account for more than two-fifths of the global precious metals market share in 2025.
• Based on application, jewelry segment is expected to generate a market revenue of about USD 117.56 Bn in 2025.
• Asia Pacific is set to dominate the global precious metals industry, accounting for more than half of the market share in 2025. This can be attributed to strong industrial demand and booming jewelry sector.
• As per Coherent Market Insights’ latest precious metals market analysis, North America, spearheaded by the United States, is set to emerge as the fastest-growing market during the assessment period.
Soaring Demand for Jewelry Fueling Precious Metals Market Growth
Coherent Market Insights’ latest precious metals market report highlights key factors driving the industry’s growth. One such factor is the increasing demand for gold and silver jewelry, especially across nations like India and China.
Precious metals like gold, platinum, silver, and palladium remain highly valued in the jewelry sector. They are being increasingly used for making items like rings, bangles, chains, earrings, and necklaces. Rising consumer demand for these jewelry products is expected to boost growth of the precious metals market.
Nations like India are witnessing high consumption of gold jewelry due to robust festival and wedding-related purchases as well as increased investment interest. According to World Gold Council, despite increasing gold prices, India’s gold consumption rose by 5% to 802.8 tonnes in 2024.
Also Read: Precious Metal Catalysts Market Size, Share, and Trends (2025-2032)
Volatility in Precious Metal Prices Limited Growth
The future precious metals market outlook appears optimistic, driven by rising jewerly demand and increasing industrial applications. However, volatility in precious metal market prices, along with environmental and ethical concerns associated with extraction of precious metals, can negatively impact industry growth to some extent.