In its latest article, published in December 2023, The Silver Institute reports that silver’s industrial demand is projected to surge by 8%, reaching a record high of 632 million ounces in 2023. This uptick is primarily fuelled by investments in photovoltaics, power grid infrastructure, 5G networks, expanding consumer electronics, and increased vehicle production.
However, despite these gains, a counterbalancing trend emerges as losses in other crucial segments are anticipated, resulting in an overall 10% decrease in total silver demand to 1.14 billion ounces.
Read the full article published by The Silver Institute here.
