Contact us
CALL US NOW 1-888-GOLD-160
(1-888-465-3160)

Silver Demand in Auto Industry Expected to Surge and Other Silver News

  by    0   0

The use of silver in the automotive sector is expected to surge in the coming years, according to the feature story in this month’s edition of the Silver Institute’s Silver News.

With modern cars using more silver than ever in their advanced technology components, analysts project the auto industry will likely need nearly 90 million ounces of silver annually by 2025.

In four years, silver consumption in the automotive sector should rival that of the photovoltaic (solar) industry. The solar energy market is currently the largest industrial user of silver. Demand is forecast to reach 98 million ounces in 2025.

But it’s taking more and more silver to build modern automobiles. According to the Silver Institute, the white metal is used extensively in vehicle electrical control units that manage a wide range of functions in the engine and main cabin. These functions include infotainment systems, navigation systems, electric power steering, and safety features, such as airbag deployment systems, automatic braking, security, and driver alertness systems.

The move to autonomous driving should also lead to an escalation of vehicle complexity, requiring even more silver consumption.

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.

  • Metrolink — Southern California’s regional passenger train service — has added silver and copper-based antimicrobial filters to its train cars to keep passengers and train employees safe from airborne germs.
  • Led by industrial use and physical silver investment, global silver demand is projected to achieve an eight-year high of 1.025 billion ounces in 2021, according to an analysis published by the Silver Institute.
  • Scientists at Kanazawa University in Japan have developed a method for extracting silver and other metals from acidic wastewater using an environmentally-friendly method that involves cellulose, the main building block of green plants.
  • What if wearables could be powered by electricity generated by the body’s own heat? Researchers at the Korea Institute of Science and Technology (KIST) are studying whether an ordinary thermocouple — two different pieces of metal that generate electricity when sandwiched together in the presence of heat — could generate enough electrical energy to operate a wearable device like heart rate or blood pressure monitors without the need for batteries.
  • Scientists at Brown University in Providence, Rhode Island, have found a new way to harden metals, including silver, by smashing together nanoclusters of the metal. Not only were the metals harder, but in the case of silver, in particular, the metal’s exceptional reflective and electrical conductivity properties remained the same. This is especially important for silver because it is too soft for some industrial applications where its other properties would be welcomed.
  • Silver aids faster and more accurate diagnosis of tumors and other growths.

Get Peter Schiff’s key gold headlines in your inbox every week – click here – for a free subscription to his exclusive weekly email updates.
Interested in learning how to buy gold and buy silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!

Related Posts

Atlanta Fed Lowers Q3 GDP Growth Forecast Close to Zero

The Atlanta Fed has lowered its GDP estimate for the third quarter to 0.3%, and the trend is downward. That means the economy is teetering on the verge of another quarter of negative GDP growth. Would that be enough to raise recession alarms?

READ MORE →

Fed Rate Hikes Will Add Trillions to National Debt

Federal Reserve rate hikes will add trillions to the national debt, according to an analysis by the Committee for a Responsible Federal Budget.

READ MORE →

Chinese Gold Demand Appears to Be Picking Up Again

Gold demand in China showed renewed strength over the last two months despite scattered COVID-19 lockdowns. Both gold withdrawals from the Shanghai Gold Exchange (SGE) in August and gold imports in July were up. China ranks as the world’s number one gold consumer.

READ MORE →

Some Things Never Change: US Government Runs Another Big Deficit in August

Some things never change — such as the federal government spending more money than it has month after month after month. August was no different. The US government ran a massive $219.6 billion budget deficit last month, according to the latest Monthly Treasury Statement. That nudged out July as the second-largest monthly deficit in fiscal […]

READ MORE →

Queen Elizabeth’s Death Puts Squeeze on Already Tight Bullion Coin Market

The recent death of Queen Elizabeth II is squeezing gold and silver bullion coin markets that were already strained by tight supplies. There was an immediate and dramatic surge in demand for gold and silver bullion coins bearing the queen’s effigy upon her passing. According to News.com.au in Australia, “Collectors are scrambling to get their […]

READ MORE →

Comments are closed.

Call Now