Precious Metal Wear Statistics

In this post, we explore the significant statistics shaping the global precious metals market, from the value of the industry to key consumer trends and regional insights. Spanning from the consumption patterns in China to the online sales channels, these data points offer a comprehensive overview of the precious metal wear landscape.

Statistic 1

"In 2020, the global precious metals market was valued at USD 193.3 billion."

Statistic 2

"The global gold jewelry market size was valued at USD 62.8 billion in 2020."

Statistic 3

"In 2020, China was the world's largest consumer of gold, consuming 700 tonnes in jewelry alone."

Statistic 4

"Platinum used in jewelry accounted for 31% of overall demand for the metal in 2019."

Statistic 5

"In 2021, the value of precious metal manufacturing in the U.S. amounted to about $13.6 billion."

Statistic 6

"Gold jewelry accounted for the largest market share of 46.6% in 2020 in terms of revenue."

Statistic 7

"Earrings product segment held the largest chunk of shares of 30.8% in the gold jewelry market."

Statistic 8

"The online sales channel segment for precious metals reached USD 19.1 billion in 2020."

Statistic 9

"Demand for Palladium, used in catalytic converters, reached 9.7 million ounces in 2021."

Statistic 10

"The U.S. accounted for 8.9% of global gold jewelry demand in 2020."

Statistic 11

"Silver bullion had its highest demand ever in 2021, accounting for 25% of total silver demand."

Statistic 12

"In 2020, 39% of platinum usage worldwide was for jewelry."

Statistic 13

"The United States imported $21.18 billion worth of gold jewelry in 2020."

Statistic 14

"The price of platinum jewelry increased by 12% in 2021."

Statistic 15

"More than 150 tons of gold are used in jewelry fabrication every year in the U.S alone."

Statistic 16

"Approximately 78% of all platinum mined is used in jewelry and industrial applications."

Statistic 17

"The gold and silver manufacturing industry in the UK isworth £2.5 billion annually."

Statistic 18

"India consumed a total of 446.4 tonnes of gold in the form of jewelry in 2019."

Statistic 19

"Italy occupies the 1st place in Europe for gold jewelry production, with 500 tons per year."

The global precious metals industry, particularly in jewelry manufacturing, showed significant economic value and demand in recent years, with substantial contributions from key players like China, the U.S., and India. Gold continues to dominate the market, driven by high demand for gold jewelry and its status as a safe-haven investment. Platinum and silver also play crucial roles, especially in jewelry and industrial applications. The online sales channel has emerged as a significant platform for precious metal transactions, reflecting shifting consumer preferences towards digital shopping experiences. Overall, the statistics paint a picture of a vibrant and dynamic industry with diverse market segments and global influences impacting its growth and development.