Demand for silver is predicted to reach a record total in 2022, driven by new highs in industrial use, jewellery, silverware and physical investment.
A new report from The Silver Institute, Metals Focus and Mine Supply shows that global silver demand is set to reach a new high of 1.21bn ounces this year – an increase of 16% from 2021. Almost half this figure (539m ounces) is expected to come from industry, where – despite slow vehicle sales – ongoing vehicle electrification, growing 5G technologies and increasing green infrastructure is expected to push up demand.
Physical investment is predicted to jump to a new record of 329m ounces, whilst silver jewellery (235m ounces) and silverware (73m ounces) are set to surge.
To read the full report, click here.