Silver Industrial Use Growing

On Friday we wrote about current industrial solar demand for silver and the first graph below shows the phenomenal growth in other uses too but what about forward projections on silver’s industrial use?

You will notice that many of the uses are what you might consider essentials in the modern world.  So lets look at just 2 uses going forward.

Firstly, still on solar, the graph below shows the increase in silver demand for silver up to 2012 and Friday’s news shows you more recent demand.

To put this already strong growth into perspective the following graph shows the quite extraordinary growth in solar use:

Another key growth sector for silver is its essential use in RFID’s (Radio Frequency Identification Devices) equating to roughly 10-20% of new demand in 2015 and projected to grow 50% over the next 5 years.