Press Releases

Global Market for Gold to Reach $189.6 Billion by 2022

May 15, 2018

Additional Reports

WELLESLEY, Mass., May 15, 2018– Due to a resurgence in economic growth across multiple emerging countries, the global market for gold is looking toward a promising future, according to a new report from BCC Research. However, there are many restraints facing the industry including pressure to reduce costs and improve margins, depleting gold reserves, shortage of skilled labor, fatal mining accidents and increasing trade protectionism.

The global market for gold was worth $163.9 billion during 2017. It is estimated to be valued at $189.6 billion by 2022, indicating a compound annual growth rate (CAGR) of 3%, according to the new report Global Markets for Gold.

Prominent players within this market include Barrick Gold Corp., Newmont Mining Corp., Zijin Mining Group, AngoGold Ashanti and Kinross Gold Corp.

Research Highlights

  • In 2017, jewelry accounted for the largest share of the global gold market at 61.6%. However, technology is expected to have the highest growth during the five-year-period by having a CAGR of 4%.
  • The Asia-Pacific region dominates 67% of the market. It is followed by the Middle East and North America which is expected to grow at a CAGR of 7%.
  • Though China is the largest market in terms of value, other countries are experiencing significant CAGRs such as India (3.3%) and Japan (2.5%).

“Due to its conductive and anti-corrosive properties, gold is a critical component in the electronics industry,” the report states. “As the electronics and computers market is expected to continue to grow in the future, demand for gold will consequently push the gold market. In 2014, total industrial demand for gold was 346.5 metric tons, which accounted for 9% of total gold demand for that year. In addition, demand for gold in the electronics sector was 277.6 tons.”

Editors/reporters requesting analyst interviews should contact steven.cumming@bccresearch.com.

Global Markets for Gold( CHM098A )
Publish Date: May 2018    

Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC, 49 Walnut Park, Building 2, Wellesley, MA 02481, Telephone: 866-285-7215; Email: editorial@bccresearch.com as the source and publisher. Thank you.