India Precious Metals Market Report by Metal Type (Gold, Silver, Platinum, Palladium, and Others), Application (Jewelry, Investment, Electricals, Automotive, Chemicals, and Others), and Region 2024-2032

India Precious Metals Market Report by Metal Type (Gold, Silver, Platinum, Palladium, and Others), Application (Jewelry, Investment, Electricals, Automotive, Chemicals, and Others), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A9235
Buy Now

Market Overview:

The India precious metals market size is projected to exhibit a growth rate (CAGR) of 8.6% during 2024-2032. The rising affluence of the expanding middle class, the implementation of favorable policies by the Government of India (GoI), increasing product utilization in the automotive industry, and the introduction of digital technologies represent some of the key factors driving the market.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Growth Rate 2024-2032 8.6%


Precious metals are naturally occurring metallic elements that hold high economic value due to their rarity, durability, and industrial applications. These include various metals, such as gold, silver, platinum, palladium, and rhodium. Their manufacturing process involves mining, extraction, refining, and shaping into various forms. Precious metals are widely used in jewelry making, coinage, investments, electronics, dentistry, automotive, pharmaceuticals, aerospace, glass manufacturing, photography, and catalytic converters. They are strong and durable materials that offer aesthetic appeal, conductivity, malleability, reflectivity, thermal stability, biocompatibility, and high resistance to corrosion. Precious metals also act as a hedge against inflation, provide portfolio diversification, offer stability during economic downturns, and hold universal acceptance.

India Precious Metals Market Trends:

The rising affluence of the expanding middle class in India is driving the market growth. The increased disposable income allows consumers to invest greatly in precious metals, such as gold and silver, as a means of wealth storage and for cultural traditions tied to marriages and festivals. Furthermore, the widespread product utilization in the automotive industry as catalytic converters to reduce emission levels, improve air quality, and extend engine lifespan is contributing to the market growth. Apart from this, the imposition of supportive policies by the Government of India (GoI) to increase investment in defense and aerospace industries that heavily rely on metals, such as platinum and silver, for manufacturing critical components is boosting the market growth. Additionally, the introduction of digital technologies, such as online platforms and mobile applications, to facilitate easier investment in precious metals and enhance user convenience is positively influencing the market growth. Moreover, the growing product demand for manufacturing photovoltaic (PV) cells used in solar panels, owing to the emerging shift towards renewable energy generation, is strengthening the market growth. Besides this, the significant growth in the jewelry industry is facilitating the product demand to create necklaces, wedding rings, bracelets, earrings, anklets, pendants, cufflinks, and toe rings. Along with this, the rising product adoption in the medical industry for dental fillings and manufacturing radiology equipment is supporting the market growth. In addition to this, growing product demand as a safe-haven asset that can preserve value and provide financial security during economic instability is catalyzing the market growth. Other factors, including rapid industrialization, increasing investment in advanced extraction processes, and growing demand for ethically sourced products, are anticipated to drive the market growth.

India Precious Metals Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the India precious metals market report, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on metal type and application.

Metal Type Insights:

  • Gold
  • Silver
  • Platinum
  • Palladium
  • Others
     

The report has provided a detailed breakup and analysis of the India precious metals market based on the metal type. This includes gold, silver, platinum, palladium, and others. According to the report, gold represented the largest segment.

Application Insights:

  • Jewelry
  • Investment
  • Electricals
  • Automotive
  • Chemicals
  • Others
     

A detailed breakup and analysis of the India precious metals market based on the application has also been provided in the report. This includes jewelry, investment, electricals, automotive, chemicals, and others. According to the report, jewelry accounted for the largest market share.

Regional Insights:

  • South India
  • North India
  • West and Central India
  • East India
     

The report has also provided a comprehensive analysis of all the major regional markets, which include South India, North India, West and Central India, and East India. According to the report, South India was the largest market for precious metals. The predominant consumption of precious metals, particularly gold, in South India can be ascribed to deep-rooted cultural, historical, and economic factors. The region, characterized by an abundance of temples and a robust middle-class demographic, perceives gold as more than mere ornamentation. It's seen as a symbol of affluence and a pragmatic financial investment. This consistently high demand solidifies South India's position as the largest market for precious metals in India.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the India precious metals market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Scope of the Report Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: 
  • Metal Type
  • Application
  • Region
Metal Types Covered Gold, Silver, Platinum, Palladium, Others
Applications Covered Jewelry, Investment, Electricals, Automotive, Chemicals, Others
Regions Covered South India, North India, West and Central India, South India
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

  • How has the India precious metals market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the India precious metals market?
  • What is the breakup of the India precious metals market on the basis of metal type?
  • What is the breakup of the India precious metals market on the basis of application?
  • What are the various stages in the value chain of the India precious metals market?
  • What are the key driving factors and challenges in the India precious metals market?
  • What is the structure of the India precious metals market and who are the key players?
  • What is the degree of competition in the India precious metals market?

Key Benefits for Stakeholders:

  • IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India precious metals market from 2018-2032.
  • The research study provides the latest information on the market drivers, challenges, and opportunities in the India precious metals market.
  • Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India precious metals industry and its attractiveness.
  • Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
India Precious Metals Market Report by Metal Type (Gold, Silver, Platinum, Palladium, and Others), Application (Jewelry, Investment, Electricals, Automotive, Chemicals, and Others), and Region 2024-2032
Purchase options




Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More