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IMARC Group has published a market research report titled“ Vietnam Precious Metals Market Report by Metal Type (Gold, Platinum, Silver, Palladium, and Others), Application (Jewelry, Investment, Electricals, Automotive, Chemicals, and Others), and Region 2024-2032 “, Vietnam precious metals market size is projected to exhibit a growth rate (CAGR) of 6.30% during
2024-2032.
Precious metals are naturally occurring metallic elements of high economic value. They include gold, silver, platinum, and palladium, each with unique aspects, such as color, density, and melting point, influencing their application and value. They are often characterized by their lustrous appearance, inherent corrosion resistance, and remarkable physical and chemical properties. They are resistant to corrosion and tarnish, which makes precious metals ideal for long-lasting goods and investments. They can be recycled indefinitely without degradation of their properties, promoting sustainability in their use.
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Vietnam Precious Metals Market Trends and Drivers
At present, the rising demand for precious metals as investments among the masses represents one of the key factors strengthening the growth of the market in Vietnam. Additionally, the increasing advances in mining technology, extraction methods, and exploration techniques are enhancing the supply of precious metals. This also includes advancements in refining processes and recycling technologies. Besides this, the growing employment of gold to craft intricate designs for rings, necklaces, bracelets, and other ornaments due to its luster and malleability is offering a favorable market outlook in the country. Moreover, the rising utilization of silver in the electronics industry for the production of electrical contacts, switches, connectors, and printed circuit boards (PCBs) due to its excellent conductivity is contributing to the market growth. Additionally, precious metals like gold and platinum are used in electronic components, semiconductors, and sensors for their conductivity, corrosion resistance, and catalytic properties. In addition, the increasing adoption of platinum and palladium in catalytic converters used in vehicles to reduce emissions of harmful gases like nitrogen oxides (NOx), carbon monoxide (CO), and hydrocarbons (HC) is bolstering the market growth in the country. Apart from this, the rising usage of silver in healthcare applications, such as wound dressings, surgical instruments, and medical devices, for its antimicrobial properties is supporting the market growth in the country.
Report Segmentation:
The report has segmented the market into the following categories:
Metal Type Insights:
Gold Jewelry Investment Technology Others
Platinum Auto-Catalyst Jewelry Chemical Petroleum Medical Others
Silver Industrial Application Jewelry Coins and Bars Silverware Others
Palladium Auto-Catalyst Electrical Dental Chemical Jewelry Others
Others
Application Insights:
Jewelry Investment Electricals Automotive Chemicals Others
Regional Insights:
Northern Vietnam Central Vietnam Southern Vietnam
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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