Silver has the attributes of currency, investment and commodity. Global silver demand is expected to reach 1.025 billion ounces in 2021, an eight-year high, and industrial demand is expected to reach 510 million ounces in 2021, an increase of 9 percent over 2020 and a four-year high.
U.S. president Joe Biden hopes to install 500 million solar panels over the next five years.
Solar power generation will nearly double in 2025, and the industry's demand for silver will increase to 81 million ounces by 2030.
In addition to photovoltaic power generation, the silver consumption of electric vehicles will also increase. It is understood that the automotive industry uses more than 55 million ounces of silver every year, and with the development of electric vehicles, the consumption of silver will continue to increase.
New energy vehicles, especially pure electric vehicles, because of their strong electrical characteristics, many parts need silver, including silver-plated wires, contacts and so on. Pure electric vehicles consume about 1.6-2.2 times more silver per vehicle than conventional internal combustion engine vehicles.
With the popularity of 5G and the Internet of things driven by 5G, the demand for related electronic materials is surging. Due to the demand of technology, silver is used in these electronic materials to varying degrees, so the silver demand market of 5G industry has a broad prospect.
There are huge business opportunities in China's silver consumer market in the future. SMM brings together customers from the upper and lower reaches of the whole silver industry chain to create a Chinese silver event. We look forward to your joining us.
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Luan Kunru
Landline: 021-51666735
Mobile phone: 18753522109
Contact email: luankunru@smm.cn
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