The Gold Ore by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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https://www.thebusinessresearchcompany.com/report/gold-ore-global-market-report
According to The Business Research Company’s Gold Ore, The gold ore market size has grown strongly in recent years. It will grow from $17.88 billion in 2023 to $19.5 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to gold as a store of value, jewelry and ornamental uses, currency and financial markets, industrial applications, investment and speculation.
The gold ore market size is expected to see strong growth in the next few years. It will grow to $27.71 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to continued investment demand, emerging market growth, government initiatives, environmental and ethical considerations, global economic conditions.. Major trends in the forecast period include integration of digital technologies, strategic partnerships and mergers, government regulations and compliance, investments in infrastructure, global economic trends.
The increase in demand for gold jewelry propelled the growth of the gold ore market. Gold jewelry refers to ornaments that are made of gold as a primary material. Gold is extracted from the gold ores by using the gold mining process, and the extracted gold is then converted into a form such that it can be used for making gold jewelry. For instance, in January 2022, according to the World Gold Council, a UK-based market development organization for the gold industry, worldwide annual jewelry consumption of gold was 2,123 tons in 2021, a 52% increase from 1,401 tons in 2020. The increase in demand for gold jewelry is driving the gold ore market.
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The gold ore market covered in this report is segmented –
1) By Mining: Placer Mining, Hardrock Mining, Other Minings
2) By Application: Cupellation Method Refining, Inquartation Method Refining, Miller Chlorination Process Refining, Wohlwill Electrolytic Process Refining, Aqua Regia Process Refining
3) By End-User: Investment, Jewelry, Other End-Users
Top Major Players:
- Barrick Gold Corporation
- Newmont Mining Corporation
- AngloGold Ashanti Limited
- Kinross Gold Corporation
- Newcrest Mining Limited
Asia-Pacific was the largest region in the gold ore market in 2023.
Technological advancements are a key trend gaining popularity in the gold ore market. Companies operating in the gold ore market are adopting new technologies to sustain their position in the market. For instance, in October 2022, RG Gold, a Kazakhstan-based gold mining company, launched a processing plant. In accordance with all international safety and environmental requirements, the plant is designed and constructed. The new gold processing plant deploys CIP (carbon in pulp) technology. Carbon in pulp (CIP) technology is a process used in the extraction of gold from gold ore using activated carbon. Its annual processing capacity amounts to approximately 5 million metrics tons of gold-containing ore.
The gold ore market report table of contents includes:
1. Executive Summary
2. Gold Ore Market Characteristics
3. Global Gold Ore Market Trends And Strategies
4. Gold Ore Market – Macro Economic Scenario
5. Global Gold Ore Market Size and Growth
…….
26. Global Gold Ore Market Competitive Benchmarking
27. Global Gold Ore Market Competitive Dashboard
28. Key Mergers and Acquisitions In Gold Ore Market
29. Gold Ore Market Future Outlook and Potential Analysis
30. Appendix
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