The demand for silver ore in the automotive sector will almost double by 2025 (Report)
The consumption of silver ore in the automotive sector will reach 88 million ounces by 2025, according to the latest report released on January 12 by the Silver Institute which specifies that this represents a 73% increase over demand from the ‘past year (51 million ounces)
According to the Metals Focus firm which prepared the document, it is the technological advances made in recent years and the boom in the electric vehicle sector that will drive this increase.
Note that silver is already widely used in the automotive industry due to its status as an excellent electric conductor, navigation systems, assisted driving and automation. And therefore other functions should increase this consumption.
In addition, electric vehicles naturally consume more white metal. It would be 25 to 50 grams for the latter against 15 to 28 grams for traditional vehicles. Hybrid engines are not left out with a consumption of between 18 and 34 grams for each vehicle.
If Africa is not one of the first silver producing regions, Morocco, leader of the sector on the continent, will be able to take advantage of the opportunity. The opening of new mines can thus be envisaged to meet this growing demand.
