India Silver Market (2023-2029) | COVID-19 IMPACT, Value, Share, Companies, Size, Revenue, Growth, Industry, Trends, Analysis & Forecast

Topics Covered in India Silver Market Report

India Silver Market report thoroughly covers the market by type, by application. The market report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

India Silver Market Synopsis

The India silver market has been witnessing significant growth and the market is projected to rise more during the forecast period due to the strong domestic investment and export opportunities offered by scrap exports from countries like China & South Korea amongst others coupled with improved awareness regarding its safekeeping capabilities amidst stock markets volatility & fluctuations.

According to 6Wresearch, the India Silver Market size is projected to register a CAGR of 22% during 2023–2029. The India silver market is experiencing steady growth as the country`s jewelry and industrial sectors drive demand for the precious metal. This market`s outlook is driven by factors such as the increasing demand for silver jewelry, coins, and bullion in the luxury and investment segments, the growth of the electronics and electrical industries, and the adoption of silver in various industrial applications. Additionally, the development of silver-based technologies and the rising focus on sustainable and eco-friendly materials are further contributing to market growth. The market faced some impact during the COVID-19 pandemic due to changes in consumer spending patterns and disruptions in industrial activities. However, it is expected to recover with the rebound in economic activities and the growing demand for silver products. These factors are highly contributing to the India Silver Market Growth.

The India silver market is experiencing growth as consumer preferences shift towards precious metal investments and jewelry. This market`s outlook is driven by factors such as the increasing demand for silver in jewelry, coins, and bars, the growth of the wedding and gifting industry, and the adoption of silver as an investment and store of value. Additionally, the development of innovative and contemporary silver jewelry designs and the rising focus on sustainable and ethical sourcing of silver are further contributing to market growth. Challenges in this market include price fluctuations due to changes in global demand and supply dynamics and competition from other precious metals like gold.

COVID-19 Impact on the Market

The India silver market which is a prominent part of the Asia Pacific Silver Market is experiencing growth as the country`s economy expands and consumers embrace precious metals as investment and adornment options. This market`s outlook is driven by factors such as the increasing demand for silver jewelry and decorative items, the growth of the financial and investment sectors, and the adoption of silver as a store of value and inflation hedge. Additionally, the development of innovative silver products and the rising focus on sustainable and ethical sourcing of silver are further contributing to market growth. The market faced challenges during the COVID-19 pandemic as disruptions in economic activities and changes in consumer spending affected the demand for luxury items. However, it is expected to recover with the rebound in economic conditions and renewed interest in precious metal investments.

India Silver Industry: Key Players

The India silver market involves several key players that contribute to the production and distribution of silver products and commodities. Some of the major players in the market include Hindustan Zinc Limited, National Mineral Development Corporation (NMDC), Sesa Goa Limited, and Sterlite Industries (India) Limited. These companies are actively involved in silver mining, refining, and trading activities, catering to the demand from various industries, including jewelry, electronics, and investment sectors.

Silver Market in India: Government Regulations

The Multi Commodity Exchange of India (MCX) as well as the National Commodity and Derivatives Exchange (NCDEX) are the two prominent commodity exchanges where silver is traded. Both these exchanges run under the guidelines set forth by SEBI and they facilitate trading in many silver contracts, including futures and options, offering a platform for buyers and sellers to hedge against the volatility of price. Reserve Bank of India (RBI) also play a significant role in regulating the silver market. Policies of RBI on foreign exchange as well as trade financing impact silver import and export, this in turn, influence pricing and availability of silver in India.

Market by Type

Sterling silver, in terms of type, dominated the market as it is widely used in creating silverware jewellery and other items for decorate. This segment will remain significant during the forecast period.

Market by Application

In terms of application, electrical and electronics dominated the market as silver is a key conductor of electricity, which makes it essential material in production of electrical connectors, switches, and contacts.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• India Silver Market Outlook
• Market Size of India Silver Market, 2022
• Forecast of India Silver Market, 2029
• Historical Data and Forecast of India Silver Revenues & Volume for the Period 2019 - 2029
• India Silver Market Trend Evolution
• India Silver Market Drivers and Challenges
• India Silver Price Trends
• India Silver Porter's Five Forces
• India Silver Industry Life Cycle
• Historical Data and Forecast of India Silver Market Revenues & Volume By Type for the Period 2019 - 2029
• Historical Data and Forecast of India Silver Market Revenues & Volume By Sterling Silver for the Period 2019 - 2029
• Historical Data and Forecast of India Silver Market Revenues & Volume By German Silver for the Period 2019 - 2029
• Historical Data and Forecast of India Silver Market Revenues & Volume By Coin Silver for the Period 2019 - 2029
• Historical Data and Forecast of India Silver Market Revenues & Volume By Britannia Silver for the Period 2019 - 2029
• Historical Data and Forecast of India Silver Market Revenues & Volume By Mexican Silver for the Period 2019 - 2029
• Historical Data and Forecast of India Silver Market Revenues & Volume By Russian Silver for the Period 2019 - 2029
• Historical Data and Forecast of India Silver Market Revenues & Volume By Oxidized Silver for the Period 2019 - 2029
• Historical Data and Forecast of India Sterling Silver Silver Market Revenues & Volume By Others for the Period 2019 - 2029
• Historical Data and Forecast of India Silver Market Revenues & Volume By Application for the Period 2019 - 2029
• Historical Data and Forecast of India Silver Market Revenues & Volume By Silverware for the Period 2019 - 2029
• Historical Data and Forecast of India Silver Market Revenues & Volume By Industrial for the Period 2019 - 2029
• Historical Data and Forecast of India Silver Market Revenues & Volume By Jewelry for the Period 2019 - 2029
• Historical Data and Forecast of India Silver Market Revenues & Volume By Investment for the Period 2019 - 2029
• Historical Data and Forecast of India Silver Market Revenues & Volume By Photographic for the Period 2019 - 2029
• Historical Data and Forecast of India Silver Market Revenues & Volume By Films for the Period 2019 - 2029
• Historical Data and Forecast of India Silver Market Revenues & Volume By Electrical And Electronics for the Period 2019 - 2029
• Historical Data and Forecast of India Silver Market Revenues & Volume By Pharmaceuticals for the Period 2019 - 2029
• India Silver Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Application
• India Silver Top Companies Market Share
• India Silver Competitive Benchmarking By Technical and Operational Parameters
• India Silver Company Profiles
• India Silver Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Type

• Sterling Silver
• German Silver
• Coin Silver
• Britannia Silver
• Mexican Silver
• Russian Silver
• Oxidized Silver
• Others

By Application

• Silverware
• Industrial
• Jewelry
• Investment
• Photographic
• Films
• Electrical And Electronics
• Pharmaceuticals