Precious Metal-Clad Goldsmiths Article of Base Metals Market

The global market for precious metal-clad goldsmiths articles of base metals is expected to see growth in consumption, production, imports, and exports over the period from 2022 to 2030. Italy leads in both consumption and production, while the UK is a major player in imports and exports. Prices for these articles vary by country, with the UK commanding the highest average export price. Overall, the market is projected to see continued growth in the near future.

Market Forecast

Driven by increasing demand for precious metal-clad goldsmiths articles of base metals worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market volume to 2.1K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.8% for the period from 2022 to 2030, which is projected to bring the market value to $241M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Precious Metal-Clad Goldsmiths Articles of Base Metals

In 2022, approx. 1.7K tons of precious metal-clad goldsmiths articles of base metals were consumed worldwide; surging by 16% against 2021 figures. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak volume and is likely to continue growth in the immediate term.

The revenue of the market for precious metal-clad goldsmiths articles of base metals worldwide expanded sharply to $166M in 2022, rising by 7.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded a mild downturn. Over the period under review, the global market hit record highs at $183M in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Consumption By Country

The country with the largest volume of consumption of precious metal-clad goldsmiths articles of base metals was Italy (514 tons), accounting for 30% of total volume. Moreover, consumption of precious metal-clad goldsmiths articles of base metals in Italy exceeded the figures recorded by the second-largest consumer, Poland (167 tons), threefold. The third position in this ranking was held by France (148 tons), with an 8.7% share.

From 2012 to 2022, the average annual growth rate of volume in Italy was relatively modest. In the other countries, the average annual rates were as follows: Poland (+16.7% per year) and France (+2.5% per year).

In value terms, Italy ($48M) led the market, alone. The second position in the ranking was held by the UK ($16M). It was followed by India.

In Italy, the market of precious metal-clad goldsmiths articles of base metals remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: the UK (-2.6% per year) and India (+30.9% per year).

The countries with the highest levels of precious metal-clad goldsmiths article of base metals per capita consumption in 2022 were Italy (8.7 kg per 1000 persons), Hong Kong SAR (5.6 kg per 1000 persons) and Poland (4.4 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of metals, amongst the leading consuming countries, was attained by India (with a CAGR of +31.6%), while metals for the other global leaders experienced more modest paces of growth.

Production

World Production of Precious Metal-Clad Goldsmiths Articles of Base Metals

In 2022, approx. 1.8K tons of precious metal-clad goldsmiths articles of base metals were produced worldwide; surging by 2.8% on the previous year. In general, production recorded a relatively flat trend pattern. As a result, production attained the peak volume and is likely to continue growth in the immediate term.

In value terms, production of precious metal-clad goldsmiths articles of base metals expanded significantly to $252M in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 23%. Global production peaked in 2022 and is expected to retain growth in the near future.

Production By Country

Italy (700 tons) remains the largest precious metal-clad goldsmiths article of base metals producing country worldwide, comprising approx. 39% of total volume. Moreover, production of precious metal-clad goldsmiths articles of base metals in Italy exceeded the figures recorded by the second-largest producer, Israel (307 tons), twofold. France (211 tons) ranked third in terms of total production with a 12% share.

In Italy, production of precious metal-clad goldsmiths articles of base metals remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Israel (+1.8% per year) and France (+0.3% per year).

Imports

World Imports of Precious Metal-Clad Goldsmiths Articles of Base Metals

In 2022, the amount of precious metal-clad goldsmiths articles of base metals imported worldwide surged to 877 tons, rising by 75% on the previous year's figure. Over the period under review, total imports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +118.4% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of precious metal-clad goldsmiths articles of base metals soared to $74M in 2022. Overall, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, Poland (139 tons), France (130 tons) and Spain (125 tons) was the largest importer of precious metal-clad goldsmiths articles of base metals in the world, making up 45% of total import. It was distantly followed by India (59 tons), achieving a 6.7% share of total imports. Canada (36 tons), Germany (34 tons), the United Arab Emirates (26 tons), Bosnia and Herzegovina (24 tons), the UK (19 tons), Nigeria (17 tons), the Netherlands (16 tons), Romania (15 tons) and Italy (14 tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +35.5%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest precious metal-clad goldsmiths article of base metals importing markets worldwide were the UK ($6.1M), Poland ($4.9M) and Germany ($2.8M), together accounting for 19% of global imports.

Poland, with a CAGR of +38.9%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average import price for precious metal-clad goldsmiths articles of base metals stood at $83,940 per ton in 2022, shrinking by -10.3% against the previous year. In general, the import price recorded a noticeable curtailment. The growth pace was the most rapid in 2020 when the average import price increased by 15%. Global import price peaked at $109,169 per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the UK ($325,078 per ton), while Bosnia and Herzegovina ($10,656 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+12.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Precious Metal-Clad Goldsmiths Articles of Base Metals

Global exports of precious metal-clad goldsmiths articles of base metals soared to 963 tons in 2022, growing by 24% against 2021 figures. In general, total exports indicated mild growth from 2012 to 2022: its volume increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +69.7% against 2020 indices. The growth pace was the most rapid in 2015 when exports increased by 37% against the previous year. As a result, the exports attained the peak of 1K tons. From 2016 to 2022, the growth of the global exports of remained at a lower figure.

In value terms, exports of precious metal-clad goldsmiths articles of base metals soared to $197M in 2022. Over the period under review, exports posted resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports By Country

The shipments of the three major exporters of precious metal-clad goldsmiths articles of base metals, namely Israel, Italy and France, represented more than two-thirds of total export. It was distantly followed by Spain (59 tons), achieving a 6.1% share of total exports. The UK (27 tons), the Netherlands (27 tons), Lebanon (20 tons), the United States (15 tons), Germany (15 tons) and Norway (15 tons) held a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Norway (with a CAGR of +33.3%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Israel ($50M) remains the largest precious metal-clad goldsmiths article of base metals supplier worldwide, comprising 25% of global exports. The second position in the ranking was taken by France ($18M), with an 8.9% share of global exports. It was followed by Italy, with a 7.6% share.

In Israel, exports of precious metal-clad goldsmiths articles of base metals increased at an average annual rate of +25.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: France (-1.0% per year) and Italy (-9.1% per year).

Export Prices By Country

In 2022, the average export price for precious metal-clad goldsmiths articles of base metals amounted to $204,261 per ton, surging by 53% against the previous year. Overall, the export price posted strong growth. The pace of growth was the most pronounced in 2018 an increase of 54%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the UK ($207,472 per ton), while the Netherlands ($3,984 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+2.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform