Silver Market Research Report - Global Forecast Till 2030

Silver Market: Information by Type (Fine Silver, Sterling Silver, German Silver, Coin Silver, Britannia Silver, Mexican Silver, Russian Silver, Oxidized Silver and others), Application (Silverware, Industrial, Jewelry, Investment, Photographic Films, Electrical and Electronics, Pharmaceuticals, Food and Beverage, Clothing and Textile, Personal Care and Cosmetics and Water Treatment) and Region (Asia-Pacific, North America, Latin America, Europe and Middle East & Africa) - Forecast till 2030

ID: MRFR/CnM/6530-HCR | February 2021 | Region: Global | 140 Pages         

Table of Contents

1 Executive Summary

2 Market Introduction

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

2.4 Key Takeaways

3 Market Research Methodology

3.1 Research Process

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

3.5 Forecast Model

4 Market Dynamics of Global Silver Market

4.1 Introduction

4.2 Drivers

4.3 Restraints

4.4 Opportunities

4.5 Challenges

4.6 Trends/Technology

5 Market Factor Analysis of Global Silver Market

5.1 Supply Chain Analysis

5.1.1 Raw Material Suppliers

5.1.2 Manufacturers/Producers

5.1.3 Distributors/Retailers/Wholesalers/E-Commerce

5.1.4 End User

5.2 Porter’s Five Forces Analysis

5.2.1 Threat of New Entrants

5.2.2 Bargaining Power of Buyers

5.2.3 Bargaining Power of Suppliers

5.2.4 Threat of Substitutes

5.2.5 Intensity of Competitive Rivalry

5.3 Pricing Analysis

6. Global Silver Market, by Type

6.1 Introduction

6.2 Fine Silver

6.2.1 Market Estimates & Forecast, 2020-2027

6.2.2 Market Estimates & Forecast, by Region, 2020-2027

6.3 Sterling Silver

6.3.1 Market Estimates & Forecast, 2020-2027

6.3.2 Market Estimates & Forecast, by Region, 2020-2027

6.4 German Silver

6.4.1 Market Estimates & Forecast, 2020-2027

6.4.2 Market Estimates & Forecast, by Region, 2020-2027

6.5 Coin Silver

6.5.1 Market Estimates & Forecast, 2020-2027

6.5.2 Market Estimates & Forecast, by Region, 2020-2027

6.6 Britannia Silver

6.6.1 Market Estimates & Forecast, 2020-2027

6.6.2 Market Estimates & Forecast, by Region, 2020-2027

6.7 Mexican Silver

6.7.1 Market Estimates & Forecast, 2020-2027

6.7.2 Market Estimates & Forecast, by Region, 2020-2027

6.8 Russian Silver

6.8.1 Market Estimates & Forecast, 2020-2027

6.8.2 Market Estimates & Forecast, by Region, 2020-2027

6.9 Oxidized Silver

6.9.1 Market Estimates & Forecast, 2020-2027

6.9.2 Market Estimates & Forecast, by Region, 2020-2027

6.10 Others

6.10.1 Market Estimates & Forecast, 2020-2027

6.10.2 Market Estimates & Forecast, by Region, 2020-2027

7. Global Silver Market, by Application

7.1 Introduction

7.2 Silverware

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast, by Region, 2020-2027

7.3 Industrial

7.3.1 Market Estimates & Forecast, 2020-2027

7.3.2 Market Estimates & Forecast, by Region, 2020-2027

7.4 Jewelry

7.4.1 Market Estimates & Forecast, 2020-2027

7.4.2 Market Estimates & Forecast, by Region, 2020-2027

7.5 Investment

7.5.1 Market Estimates & Forecast, 2020-2027

7.5.2 Market Estimates & Forecast, by Region, 2020-2027

7.6 Photographic films

7.6.1 Market Estimates & Forecast, 2020-2027

7.6.2 Market Estimates & Forecast, by Region, 2020-2027

7.7 Electrical and Electronics

7.7.1 Market Estimates & Forecast, 2020-2027

7.7.2 Market Estimates & Forecast, by Region, 2020-2027

7.8 Pharmaceuticals

7.8.1 Market Estimates & Forecast, 2020-2027

7.8.2 Market Estimates & Forecast, by Region, 2020-2027

7.9 Food and Beverage

7.9.1 Market Estimates & Forecast, 2020-2027

7.9.2 Market Estimates & Forecast, by Region, 2020-2027

7.10 Textile

7.10.1 Market Estimates & Forecast, 2020-2027

7.10.2 Market Estimates & Forecast, by Region, 2020-2027

7.11 Personal Care and Cosmetics

7.11.1 Market Estimates & Forecast, 2020-2027

7.11.2 Market Estimates & Forecast, by Region, 2020-2027

7.12 Water Treatment

7.12.1 Market Estimates & Forecast, 2020-2027

7.12.2 Market Estimates & Forecast, by Region, 2020-2027

8. Global Silver Market, by Region

8.1 Introduction

8.2 North America

8.2.1 Market Estimates & Forecast, 2020-2027

8.2.2 Market Estimates & Forecast, by Type, 2020-2027

8.2.3 Market Estimates & Forecast, by Application, 2020-2027

8.2.4 US

8.2.4.1 Market Estimates & Forecast, 2020-2027

8.2.4.2 Market Estimates & Forecast, by Type, 2020-2027

8.2.4.3 Market Estimates & Forecast, Application, 2020-2027

8.2.5 Canada

8.2.5.1 Market Estimates & Forecast, 2020-2027

8.2.5.2 Market Estimates & Forecast, by Type, 2020-2027

8.2.5.3 Market Estimates & Forecast, by Application, 2020-2027

8.3 Europe

8.3.1 Market Estimates & Forecast, 2020-2027

8.3.2 Market Estimates & Forecast, by Type, 2020-2027

8.3.3 Market Estimates & Forecast, by Application, 2020-2027

8.3.4 Germany

8.3.4.1 Market Estimates & Forecast, 2020-2027

8.3.4.2 Market Estimates & Forecast, by Type, 2020-2027

8.3.4.3 Market Estimates & Forecast, by Application, 2020-2027

8.3.5 France

8.3.5.1 Market Estimates & Forecast, 2020-2027

8.3.5.2 Market Estimates & Forecast, by Type, 2020-2027

8.3.5.3 Market Estimates & Forecast, by Application, 2020-2027

8.3.6 Italy

8.3.6.1 Market Estimates & Forecast, 2020-2027

8.3.6.2 Market Estimates & Forecast, by Type, 2020-2027

8.3.6.3 Market Estimates & Forecast, by Application, 2020-2027

8.3.7 Spain

8.3.7.1 Market Estimates & Forecast, 2020-2027

8.3.7.2 Market Estimates & Forecast, by Type,2020-2027

8.3.7.3 Market Estimates & Forecast, by Application, 2020-2027

8.3.8 UK

8.3.8.1 Market Estimates & Forecast, 2020-2027

8.3.8.2 Market Estimates & Forecast, by Type,2020-2027

8.3.8.3 Market Estimates & Forecast, by Application, 2020-2027

8.3.9 Russia

8.3.9.1 Market Estimates & Forecast, 2020-2027

8.3.9.2 Market Estimates & Forecast, by Type,2020-2027

8.3.9.3 Market Estimates & Forecast, by Application, 2020-2027

8.3.10 Poland

8.3.10.1 Market Estimates & Forecast, 2020-2027

8.3.10.2 Market Estimates & Forecast, by Type, 2020-2027

8.3.10.3 Market Estimates & Forecast, by Application, 2020-2027

8.3.11 Rest of Europe

8.3.11.1 Market Estimates & Forecast, 2020-2027

8.3.11.2 Market Estimates & Forecast, by Type, 2020-2027

8.3.11.3 Market Estimates & Forecast, by Application, 2020-2027

8.4 Asia-Pacific

8.4.1 Market Estimates & Forecast, 2020-2027

8.4.2 Market Estimates & Forecast, by Type, 2020-2027

8.4.3 Market Estimates & Forecast, by Application, 2020-2027

8.4.4 China

8.4.4.1 Market Estimates & Forecast, 2020-2027

8.4.4.2 Market Estimates & Forecast, by Type, 2020-2027

8.4.4.3 Market Estimates & Forecast, by Application, 2020-2027

8.4.5 India

8.4.5.1 Market Estimates & Forecast, 2020-2027

8.4.5.2 Market Estimates & Forecast, by Type, 2020-2027

8.4.5.3 Market Estimates & Forecast, by Application, 2020-2027

8.4.6 Japan

8.4.6.1 Market Estimates & Forecast, 2020-2027

8.4.6.2 Market Estimates & Forecast, by Type, 2020-2027

8.4.6.3 Market Estimates & Forecast, by Application, 2020-2027

8.4.7 Australia & New Zealand

8.4.7.1 Market Estimates & Forecast, 2020-2027

8.4.7.2 Market Estimates & Forecast, by Type, 2020-2027

8.4.7.3 Market Estimates & Forecast, by Application, 2020-2027

8.4.8 Rest of Asia-Pacific

8.4.8.1 Market Estimates & Forecast, 2020-2027

8.4.8.2 Market Estimates & Forecast, by Type, 2020-2027

8.4.8.3 Market Estimates & Forecast, by Application, 2020-2027

8.5 Middle East & Africa

8.5.1 Market Estimates & Forecast, 2020-2027

8.5.2 Market Estimates & Forecast, by Type, 2020-2027

8.5.3 Market Estimates & Forecast, by Application, 2020-2027

8.5.4 GCC

8.5.4.1 Market Estimates & Forecast, 2020-2027

8.5.4.2 Market Estimates & Forecast, by Type, 2020-2027

8.5.4.3 Market Estimates & Forecast, by Application, 2020-2027

8.5.5 Israel

8.5.5.1 Market Estimates & Forecast, 2020-2027

8.5.5.2 Market Estimates & Forecast, by Type, 2020-2027

8.5.5.3 Market Estimates & Forecast, by Application, 2020-2027

8.5.6 North Africa

8.5.6.1 Market Estimates & Forecast, 2020-2027

8.5.6.2 Market Estimates & Forecast, by Type, 2020-2027

8.5.6.3 Market Estimates & Forecast, by Application, 2020-2027

8.5.7 Turkey

8.5.7.1 Market Estimates & Forecast, 2020-2027

8.5.7.2 Market Estimates & Forecast, by Type, 2020-2027

8.5.7.3 Market Estimates & Forecast, by Application, 2020-2027

8.5.8 Rest of Middle East & Africa

8.5.8.1 Market Estimates & Forecast, 2020-2027

8.5.8.2 Market Estimates & Forecast, by Type, 2020-2027

8.5.8.3 Market Estimates & Forecast, by Application, 2020-2027

8.6 Latin America

8.6.1 Market Estimates & Forecast, 2020-2027

8.6.2 Market Estimates & Forecast, by Type, 2020-2027

8.6.3 Market Estimates & Forecast, by Application, 2020-2027

8.6.4 Brazil

8.6.4.1 Market Estimates & Forecast, 2020-2027

8.6.4.2 Market Estimates & Forecast, by Type, 2020-2027

8.6.4.3 Market Estimates & Forecast, by Application, 2020-2027

8.6.5 Argentina

8.6.5.1 Market Estimates & Forecast, 2020-2027

8.6.5.2 Market Estimates & Forecast, by Type, 2020-2027

8.6.5.3 Market Estimates & Forecast, by Application, 2020-2027

8.6.6 Mexico

8.6.6.1 Market Estimates & Forecast, 2020-2027

8.6.6.2 Market Estimates & Forecast, by Type, 2020-2027

8.6.6.3 Market Estimates & Forecast, by Application, 2020-2027

8.6.7 Rest of Latin America

8.6.7.1 Market Estimates & Forecast, 2020-2027

8.6.7.2 Market Estimates & Forecast, by Type, 2020-2027

8.6.7.3 Market Estimates & Forecast, by Application, 2020-2027

9. Company Landscape

9.1 Introduction

9.2 Market Strategy

9.3 Key Development Analysis (Expansion/Mergers & Acquisitions/Joint Venture/New Product Development/Agreement/Investments)

10. Company Profiles

10.1 Hindustan Zinc

10.1.1 Company Overview

10.1.2 Financial Updates

10.1.3 Product/Business Segment Overview

10.1.4 Strategy

10.1.5 Key Developments

10.1.6 SWOT Analysis

10.2 Asahi Refining

10.2.1 Company Overview

10.2.2 Financial Updates

10.2.3 Product/Business Segment Overview

10.2.4 Strategy

10.2.5 Key Developments

10.2.6 SWOT Analysis

10.3 Fresnillo plc

10.3.1 Company Overview

10.3.2 Financial Updates

10.3.3 Product/Business Segment Overview

10.3.4 Strategy

10.3.5 Key Developments

10.3.6 SWOT Analysis

10.4 KGHM

10.4.1 Company Overview

10.4.2 Financial Updates

10.4.3 Product/Business Segment Overview

10.4.4 Strategy

10.4.5 Key Developments

10.4.6 SWOT Analysis

10.5 Glencore

10.5.1 Company Overview

10.5.2 Financial Updates

10.5.3 Product/Business Segment Overview

10.5.4 Strategy

10.5.5 Key Developments

10.5.6 SWOT Analysis

10.6 Newmont Goldcorp

10.6.1 Company Overview

10.6.2 Financial Updates

10.6.3 Product/Business Segment Overview

10.6.4 Strategy

10.6.5 Key Developments

10.6.6 SWOT Analysis

10.7 Polymetal International plc

10.7.1 Company Overview

10.7.2 Financial Updates

10.7.3 Product/Business Segment Overview

10.7.4 Strategy

10.7.5 Key Developments

10.7.6 SWOT Analysis

10.8 Minas Buenaventura SAA

10.8.1 Company Overview

10.8.2 Financial Updates

10.8.3 Product/Business Segment Overview

10.8.4 Strategy

10.8.5 Key Developments

10.8.6 SWOT Analysis

10.9 PAN AMERICAN SILVER

10.9.1 Company Overview

10.9.2 Financial Updates

10.9.3 Product/Business Segment Overview

10.9.4 Strategy

10.9.5 Key Developments

10.9.6 SWOT Analysis

10.10 Hochschild Mining plc

10.10.1 Company Overview

10.10.2 Financial Updates

10.10.3 Product/Business Segment Overview

10.10.4 Strategy

10.10.5 Key Developments

10.10.6 SWOT Analysis

10.11 Volcan

10.11.1 Company Overview

10.11.2 Financial Updates

10.11.3 Product/Business Segment Overview

10.11.4 Strategy

10.11.5 Key Developments

10.11.6 SWOT Analysis

10.12 Wheaton Precious Metals Corp

10.12.1 Company Overview

10.12.2 Financial Updates

10.12.3 Product/Business Segment Overview

10.12.4 Strategy

10.12.5 Key Developments

10.12.6 SWOT Analysis

10.13 First Majestic

10.13.1 Company Overview

10.13.2 Financial Updates

10.13.3 Product/Business Segment Overview

10.13.4 Strategy

10.13.5 Key Developments

10.13.6 SWOT Analysis

10.14 ENDEAVOUR SILVER

10.14.1 Company Overview

10.14.2 Financial Updates

10.14.3 Product/Business Segment Overview

10.14.4 Strategy

10.14.5 Key Developments

10.14.6 SWOT Analysis

10.15 Hecla Mining Company

10.15.1 Company Overview

10.15.2 Financial Updates

10.15.3 Product/Business Segment Overview

10.15.4 Strategy

10.15.5 Key Developments

10.15.6 SWOT Analysis

11. Conclusion

LIST OF TABLES

Table 1 Global Silver Market: by Region, 2020-2027

Table 2 North America: Silver Market, by Country, 2020-2027

Table 3 Europe: Silver Market, by Country, 2020-2027

Table 4 Asia-Pacific: Silver Market. by Country, 2020-2027

Table 5 Middle East & Africa: Silver Market, by Country, 2020-2027

Table 6 Latin America: Silver Market, by Country, 2020-2027

Table 7 Global Silver Type Market, by Regions, 2020-2027

Table 8 North America: Silver Type Market, by Country, 2020-2027

Table 9 Europe: Silver Type Market, by Country, 2020-2027

Table10 Asia-Pacific: Silver Type Market, by Country, 2020-2027

Table11 Middle East & Africa: Silver Type Market, by Country, 2020-2027

Table12 Latin America: Silver Type Market, by Country, 2020-2027

Table13 Global Silver Application Market, by Regions, 2020-2027

Table14 North America: Silver Application Market, by Country, 2020-2027

Table15 Europe: Silver Application Market, by Country, 2020-2027

Table16 Asia-Pacific: Silver Application Market, by Country, 2020-2027

Table17 Middle East & Africa: Silver Application Market, by Country, 2020-2027

Table18 Latin America: Silver by Application Market, by Country, 2016-2023

Table19 Global Type Market, by Region, 2020-2027

Table20 Global Application Market, by Region, 2020-2027

Table21 North America: Silver Market, by Country, 2020-2027

Table22 North America: Silver Market, by Type, 2020-2027

Table23 North America: Silver Market, by Application, 2020-2027

Table24 Europe: Silver Market, by Country, 2020-2027

Table25 Europe: Silver Market, by Type, 2020-2027

Table26 Europe: Silver Market, by Application, 2020-2027

Table27 Asia-Pacific: Silver Market, by Country, 2020-2027

Table28 Asia-Pacific: Silver Market, by Type, 2020-2027

Table29 Asia-Pacific: Silver Market, by Application, 2020-2027

Table30 Middle East & Africa: Silver Market, by Country, 2020-2027

Table31 Middle East & Africa: Silver Market, by Type, 2020-2027

Table32 Middle East & Africa: Silver Market, by Application, 2020-2027

Table33 Latin America: Silver Market, by Country, 2020-2027

Table34 Latin America: Silver Market, by Type, 2020-2027

Table35 Latin America: Silver Market, by Application, 2020-2027

LIST OF FIGURES

FIGURE 1 Global Silver Market Segmentation

FIGURE 2 Forecast Research Methodology

FIGURE 3 Five Forces Analysis of Global Silver Market

FIGURE 4 Value Chain of Global Silver Market

FIGURE 5 Global Silver Market, 2020-2027, by Country, 2020

FIGURE 6 Share of Global Silver Market, by Country, 2020-2027

FIGURE 7 Global Silver Market Size, by Type, 2020

FIGURE 8 Share of Global Silver Market, by Type, 2020-2027

FIGURE 9 Global Silver Market Size, by Application, 2020

FIGURE10 Share of Global Silver Market, by Application, 2020-2027

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Silver Market Overview


As per the research report by MRFR, the global silver market will record a healthy CAGR of approximately 9.83% during the assessment era ending in 2030.


Silver (Ag) refers to soft, white, and lustrous transition metal having an atomic number 47. The metal has the highest electrical and thermal conductivity compared to other metals. Additionally, it presents ductility, malleability, and high reflectivity. It is hard compared to other precious metals and obtained from minerals or the earth's crust as an alloy with gold and other metals. Silver is produced as a byproduct of lead, copper, zinc, and gold refining in several cases. It is one of the valuable metals and has applications in photographic films, silverware, and jewelry. The global silver market has witnessed a massive spike in the growth rate in the past few years. The market's growth is mainly credited to the growing consumption of silver in ornaments and silverware.


Furthermore, the increasing demand for silver in industrial and electronic applications such as photovoltaic cells, high-capacity batteries, catalysts, and supercapacitors is also likely to boost the market's growth in the coming years. Moreover, factors such as applications in dentistry and increasing use as an affordable alternative to gold are projected to impact the silver market's growth positively. On the other hand, volatile prices of silver and the high reactivity of silver may impede the market's growth over the assessment timeframe.


Key Players



  • Hindustan Zinc (India)

  • Asahi Refining (US)

  • Fresnillo plc (Mexico)

  • KGHM (Poland)

  • Glencore (Switzerland)

  • Newmont Goldcorp (Canada)

  • Polymetal International plc (Russia)

  • Minas Buenaventura SAA (Peru)

  • PAN AMERICAN SILVER (Canada)

  • Hochschild Mining plc (UK)

  • Volcan (Peru)

  • Wheaton Precious Metals Corp (Canada)

  • First Majestic (Canada)

  • ENDEAVOUR SILVER (Canada)

  • Hecla Mining Company (US).


Silver Market Share, By Application, 2018 (%)  Silver Market_Image


Source: MRFR Analysis


Regional Analysis


The global silver market has been studied across five key regions, namely Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.


The Latin American market held the largest market share in 2018 and is projected to continue this trend in the coming years owing to the presence of large silver mines. Mexico is the leading country in the world owing to the presence of the largest silver mines possessing higher grades. The mine supply from this country increased to as high as 6,116 tons following a robust performance of the primary and gold sectors. Peru is another prominent country in the region and mined around 4,508 tons of silver in 2018, though it showed silver production drop by 2%. The North American market accounted for the second-largest market share in 2018 and is projected to register the highest CAGR during the forecast period owing to the increase in mining activities in the lead, gold, and zinc mines in the region. The Asia-Pacific market is projected to exhibit a significant CAGR in the coming years owing to rising mining activities and growing demand for silver in jewelry and industrial applications. China is the leading country in the region, followed by India owing to the growing demand for silver in the manufacturing of ornaments and coins. The European market held a substantial market share in 2018 and silver production in the region increased by 1% in 2017, which is the first increase in silver production rate after three consecutive years of downfall. Russia is the major contributor to the regional market growth followed by Poland. The Middle East & African market held a small market share in 2018 on account of the low purity of silver mines.


Segmentation Analysis


The global silver market has been segmented based on type, application, and region.


On the basis of type, the global silver market has been categorized into fine silver, sterling silver, German silver, coin silver, Britannia silver, Mexican silver, Russian silver, oxidized silver, and others.


Based on application, the global silver market has been classified into silverware, industrial, jewelry, investment, photographic films, electrical and electronics, pharmaceuticals, food and beverage, clothing and textile, personal care and cosmetics, and water treatment.


The global silver market, by region, has been studied for five key regionsAsia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.

Recent Development



  • February 2022 - Vizsla Silver Corp. happily announced the maiden mineral resource estimate for its leading, 100% owned Panuco silver-gold project situated in Sinaloa, Mexico. The resource estimate is built on a complete drill database of 445 holes finished by Vizsla during November 2019 and December 2021.

  • February 2022- Bald Eagle Gold Corp. happily announced the completion of a wide historical data compilation for the Company's lately acquired Hercules Silver Property located in the Heath Mining District of Washington County, Idaho, USA.


Target Audience



  • Silver, gold, and zinc mining companies

  • Silver manufacturers

  • Distributors and suppliers of Silver

  • Potential investors

  • Research institutes

  • Government bodies



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: Significant value
  CAGR   9.83% (2022–2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Type, Application and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Asahi Refining (US),Fresnillo plc (Mexico),KGHM (Poland),Glencore (Switzerland), Newmont Goldcorp (Canada), Polymetal International plc (Russia), Minas Buenaventura SAA (Peru), PAN AMERICAN SILVER (Canada), Hochschild Mining plc (UK), Volcan (Peru), Wheaton Precious Metals Corp (Canada), First Majestic (Canada), ENDEAVOUR SILVER (Canada),Hecla Mining Company (US).
  Key Market Opportunities   Growing demand for silver in industrial and electronic applications such as supercapacitors, catalysts, high capacity batteries,
  Key Market Drivers   Increasing consumption of silver in ornaments and silverware is expected to be the major factor driving the global market


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Frequently Asked Questions (FAQ) :

Silver market is projected to grow at approximately 9.83% CAGR during the assessment period (2018-2024).

Electrical and electronics is the largest application segment in the global Silver market.

Mexico is the leading country in the global Silver market.

Latin America holds the largest share in the global Silver market, followed by North America and the Asia Pacific, respectively.

Fresnillo plc. (Mexico), Asahi Refining (US), Goldcorp (Canada), Minas Buenaventura SAA (Peru), Newmont Hindustan Zinc (India), KGHM (Poland), Volcan (Peru), Hecla Mining Company (US), Glencore (Switzerland), PAN American Silver (Canada), Polymetal International plc (Russia), Wheaton Precious Metals Corp (Canada), Hochschild Mining plc (UK), First Majestic (Canada), and Endeavour Silver (Canada), are some of the top players operating in the global Silver market.