Silver's Growing Industrial Demand
Chart of industrial demand for silver by country:
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:
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