Silver's Growing Industrial Demand

Posted by Adam Sharp - Monday, April 4th, 2011

Chart of industrial demand for silver by country:

silver industrial demand

From the Silver Institute's latest report (PDF).

Breakdown of industrial demand by product, via BullionVault.com:

  • Cell phones used 404.35 tonnes of silver;
  • Computers consumed 684.29 tonnes;
  • Thick film PV consumed 1,461.90 tonnes;
  • Automobiles which used 1,119.75 tonnes;
  • Electrical and electronics demand for silver reached an all-time high of 7,555.21 tonnes;
  • Solar power demand in 2011 is expected to reach 2,177.29 tonnes, up 40% from 2010;
  • RFID tags in 2010 reached between 31 and 62 tonnes with a long way to go before reaching full market;
  • Water purification used 62 tonnes, and is set to grow to 74.65 tonnes;
  • Medical applications may grow strongly to reach 93.3 tonnes by 2015;
  • The use of nano-silver in goods packaging and hygiene combined would consume 124.4 tonnes of silver over the next five years.

Silver is up nearly 2% today (4/4). Chart:

View the full SI00 chart at Wikinvest

 

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