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

US Stimmy Checks Support Foreign Manufacturing Economies

What do you get when you hand Americans big fat stimulus checks after decades of offshoring the country’s manufacturing economy? Massive trade deficits.

READ MORE →

Budget Deficit Surges to Record $1.7 Trillion in Just Six Months

The US government ran a budget deficit of $659.59 billion in March, pushing the budget shortfall to a record $1.7 trillion through the first half of fiscal 2021, according to the Treasury Department’s Monthy Treasury Statement. The March budget deficit ranks as the third biggest monthly shortfall in US history, driving Uncle Sam the biggest […]

READ MORE →

The Powerful Case for Silver: Free Updated and Revised Report

Silver enjoyed a brief moment in the limelight earlier this year when the so-called “Reddit Raiders” turned their attention to the white metal. The spotlight has dimmed somewhat, but there are still plenty of reasons to be bullish on silver. Our fully revised and updated The Powerful Case for Silver report provides an in-depth overview […]

READ MORE →

US Consumer Debt Spiked in February

Apparently, those stimulus checks weren’t enough. American consumers pulled out their credit cards and ran up big balances in February. According to the latest numbers from the Federal Reserve, consumer debt unexpectedly spiked in February, growing at an annual rate of 7.9%. Economists had expected a small uptick in consumer debt after a flat January, […]

READ MORE →

Central Banks Add Over 8 Tons of Gold to Reserves in February

Despite a significant selloff by Turkey, central banks globally added a net 8.8 tons of gold to their reserves in February, according to the latest data compiled by the World Gold Council. Gold-buying by central banks slowed last year from the record pace we saw in 2018 and 2019, and that trend has continued into […]

READ MORE →

Comments are closed.

Call Now