Silver, the next generation metal

 

Expands across key technology sectors  

Silver’s superior electrical and thermal conductivity properties are increasingly essential to the technological transformation driving the global economy. As a result, global silver industrial demand is poised to grow further as demand from vital technology sectors accelerates over the next five years.  

Sectors such as solar energy (PV), automotive electric vehicles (EVs) and their infrastructure, and data centers and artificial intelligence (AI) will drive industrial demand higher through 2030.    

According to a new report released by the Silver Institute, silver will remain an essential component across multiple high-growth sectors as industries race to embrace digital innovation and meet clean energy mandates. 

The report, Silver, The Next Generation Metal, was researched and produced by London-based Oxford Economics, a leading independent economic advisory and consultancy.  

The report examines three key areas of future growth, 1: Solar Photovoltaics, 2:  Automotive, EV Vehicles & their Infrastructure, 3: Data Centers & AI.  

1: Solar Photovoltaics: As countries worldwide commit to renewable energy transitions and solar installations expand, solar photovoltaic technology is among the most significant and fastest-growing applications of silver demand.  

2: Automotive, EV & their Infrastructure: The report forecasts global automotive silver demand to increase at a compound annual growth rate of 3.4 percent between 2025 and 2031. The rapid increase in EV demand and production means that EV vehicles will overtake ICE vehicles as the primary source of automotive silver demand by 2027, and account for 59 percent of the market by 2031.  

3: Data Centers & AI: Data centers are providing the physical infrastructure needed to run cloud computing services, store and manage data, and, increasingly, power Artificial Intelligence [AI] systems. The report estimates that even in the absence of precise silver-loading data, the link is clear: a 5,252% increase in IT power demand translates into more computing hardware and, consequently, greater demand for silver.