Industrial Silver Demand to Increase 27% by 2018
The Silver Institute forecasts that demand for industrial silver will increase by 142 million ounces by 2018 – a 27% rise from 2013 levels. The majority of this growth will come from the electronics sector, where silver is used as one of the most reliable and efficient electrical conductors on earth.
However, every major application of industrial silver will experience considerable growth by 2018. These include batteries, ethylene oxide (EO), photovoltaic power, automative, brazing and alloys, bearings, printed silver inks, medical, and water purification. Here’s a break-down of silver demand by geographical region:
Notice the predominance of EO production around the world. This chemical as an under appreciated essential to our modern world. Most people can immediately grasp the importance of electronics, but have no idea how central a role ethylene oxide plays in their lives.
EO is used to make chemicals and products we all rely upon every single day. These include anti-freeze, polyester, solvents, cosmetics, pharmaceuticals, lubricants, soaps, detergents, gas purification, and emulsifiers. You know those super strong plastics we find in everything from water bottles to kitchen utensils to sports equipment? EO is essential to creating it, and you need silver to efficiently make EO.
So unless you plan on giving up your modern lifestyle, or believe developing countries are going to stop demanding the modern amenities listed above, industrial silver demand is here to stay.
You can learn more about all of these uses of silver, as well as the fascinating history of silver industrial demand in the Silver Institute’s free special report – Glistening Particles of Industrial Silver.
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