Precious metals production market in the United Kingdom to grow 1.2% CAGR between 2014-19

New York (Nov 29)  The main products manufactured by the Precious Metals Production industry are refined silver, platinum and gold. Platinum sales are heavily influenced by the automotive industry where it is used for the manufacturing of catalytic converters. Gold and silver are both used for jewellery manufacturing and for investment purposes; though silver has many other industrial uses as well.

Industry performance has been highly volatile over the past few years, reflecting dramatic shifts in world prices of precious metals, declining industry participation and unsteady demand from downstream markets. The industry is expected to generate revenue of £1.27 billion in 2013-14, compared with £1.0 billion in 2008-09. This equates to compound annual revenue growth of 4.8%. Industry revenue is expected to grow 1.5% in 2013-14, as Britain begins its march toward economic recovery.