2021 Silver Demand Expected to Break Record and Other Silver News
Silver demand is expected to chart a new record high in 2021 with every key area showing an increase based on preliminary data.
This is one of several silver-related stories covered in the latest edition of Silver News published by the Silver Institute.
According to the Silver Institute, based on preliminary data, overall demand is expected to come in at 1.029 billion ounces in 2021. That will mark the first year of demand of over 1 billion ounces since 2015.
Physical silver investment is projected to show a jump by 32% in 2021 for a 6-year high.
Industrial demand will achieve a new high of 524 million ounces. This includes a 13% rise to over 110 million ounces in photovoltaic demand, a new high showing silver’s key role in the green economy. In addition, brazing alloy and solder demand is set to expand by 10% in 2021, helped by a recovery in housing and construction.
Silver ETFs are projected to see total holdings rise by 150 million ounces once all the data is in for 2021.
The latest edition of Silver News also highlights some other fascinating technological advances utilizing the white metal, along with some developments in the silver market. Here are some highlights.
- The use of silver-laced dressings for wounds has been shown to be effective at not only reducing infection but accelerating healing. And, because it is accepted practice among the best healthcare providers to deliver medicine only when necessary, according to the American Medical Association, a research team at the University of South Australia’s Future Industries Institute, has developed a hydrogel-coated dressing, aimed at children, that only releases silver nanoparticles when an infection is present.
- Argentum Medical’s Silverlon Wound Contact dressing has received US Food and Drug Administration approval for its Breakthrough Device Program. The silver-based dressing contains 50 to 100 times more metallic silver ions than other silver-impregnated dressings, company officials say it is approved for an application up to seven days for patients who have suffered skin injury due to radiation treatment.
- Lithium batteries hold great promise for powering electric cars, but these all-solid-state batteries (ASSBs) have a big problem. After many charges, they tend to short circuit internally, which destroys the battery. Silver could help alleviate this problem.
- Silver nanowires are finding increasing use in consumer electronics, medical apparatuses, environmental devices and more, so making them quickly, at lower cost and higher quality has become a dream of many engineers. Indian developers at the CSIR-National Chemical Laboratory, Pune, have taken a step forward towards that goal.
- About 11 years ago, Cape Town, South Africa jewelry maker Ashley Heather wanted to see if she could make a silver ring from silver halide taken from used photographic films and X-Rays. She was successful, but with the growth of digital photos, that source went sour. Looking for a sustainable supply of used silver, she stumbled upon E-waste, mainly from discarded smartphones and computers, and began to break it down into its component parts that could be used to make jewelry, namely silver and gold.