Fabrication Gold Market
Fabrication Gold Market Analysis, By Material Source (Mine Production, Scrap Supply), By Application (Jewelry, Official Coins, Electronics, Others), and Region – Global Market Insights 2023 to 2033
Analysis of Fabrication Gold Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Fabrication Gold Market Outlook (2023 to 2033)
The global fabrication gold market is estimated to be valued at US$ 145.3 billion in 2023. Global demand for gold fabrication is anticipated to increase at a CAGR of 4.6% to reach a market value of US$ 228 billion by the end of 2033.
The mine production segment is forecasted to expand at a CAGR of 4.5% through 2033.
The jewelry fabrication process encompasses a wide range of steps, from simple assembly to the creation of handcrafted pieces. Precious metal parts or segments are joined together through welding or soldering to produce the final product. A variety of components are employed in jewelry fabrication, including cages, prongs, and heads for setting gemstones, as well as clutches, clasps, and earring posts that provide practical functions.
Bench jewelers carry out the process of jewelry fabrication, which involves assembling various individual elements to create a finished piece of jewelry. To accomplish this, jewelers must use soldering or welding techniques to join together different precious metal components of varying colors.
Regardless of the specific circumstances, jewelry fabrication always requires the use of various parts, as well as the process of bonding and preparation. Jewelry casting is commonly utilized for creating these parts, which can then be incorporated into the overall fabrication process. The cast items are produced using CAD (computer-aided design). Although the raw castings may initially be rough, they can be refined and shaped by skilled artisans to achieve the desired final product.
Thorough cleaning and deburring of cast items are critical components of the jewelry fabrication process. Adequate preparation is necessary to ensure that the cast components can be seamlessly integrated with the respective model during assembly.
In some cases, certain parts may need to be fabricated from raw metal that is drawn or rolled into wire and sheets. This allows for the creation of details or settings that can be added to the overall design through welding or soldering. Jewelers often utilize essential tools such as rotary grinding tools, gravers, and files to shape these raw materials into the required design elements, which can then be applied as an applique to the models.
According to this research analysis conducted by Fact.MR, a provider of market research and competitive intelligence, the jewelry industry is characterized by a fragmented nature, with numerous companies operating within it. The market is currently in its late growth phase and is subject to ongoing innovation and the emergence of new opportunities.
Fact.MR's research report is intended to assist clients in identifying new growth opportunities and devising innovative strategies to drive further growth in the industry.
Fabrication Gold Market Size in 2023
US$ 145.3 Billion
Estimated Market Value (2033)
US$ 228 Billion
Forecasted Market Growth Rate (2023 to 2033)
Canada Market Growth Rate (2023 to 2033)
Germany Market Growth Rate (2023 to 2033)
Expected Growth of Scrap Supply Segment (2023 to 2033)
Key Companies Profiled
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Which Factors are Contributing to Demand for Gold Fabrication?
“Economic Growth in Developing Countries Fueling Demand for Gold Fabrication”
Developing countries are set to experience a significant increase in economic power, thanks to their potential for rapid growth. This notable economic growth in developing economies is expected to have a positive impact on the demand for gold fabrication.
It is predicted that the population of the working class will rise significantly by the end of the forecast period. This is expected to result in higher disposable income, leading to an increase in demand for gold over the next 10 years. Additionally, the cultural affinity towards gold as a precious metal can create profitable opportunities in the target market.
“Technological Advancements in Mining Contributing to Increased Gold Production”
- According to data published by My Gold Guide on February 19, 2020, the production of gold has almost doubled over the last 30 years.
Despite a constant increase in exploration spending since 2000, the rate of discovering new sources of gold is declining. However, technological advancements such as mining automation are expected to bring about a paradigm shift in gold mining during the forecast period.
Increased connectivity and computing power brought about by technological advancements can have a transformative effect on the gold mining process. This may lead to a shift towards underground mining as opposed to open-pit mining, and greater use of solar energy and automation. These developments are expected to increase demand for more sustainable and safer mining techniques. Thus, these advancements can directly impact the overall production of gold and lead to high demand for gold fabrication.
“Rapid Technological Advancements Facilitating Convenient Gold Investment Procedures”
As with every industry, rapid technological advancements have the potential to revolutionize the way the gold industry operates. For instance, mobile applications such as gold ETFs (exchange-traded funds) and digital gold enable investors to easily purchase, invest, sell, and gift gold in developing countries, particularly in India.
Gold is often considered a safe investment during economic downturns and financial crises, as it can provide stability and generate economic growth. As a result, the demand for gold investments can increase, leading to a rise in demand for gold and, consequently, for gold fabrication.
What is Restricting Demand Growth for Gold Fabrication to Some Extent?
“Need for Expensive Tools for Post-fabrication Procedures Limiting Market Expansion”
Jewelers must invest in expensive tools to carry out fabrication procedures. Moreover, there are additional post-fabrication procedures that must be performed, making the entire process time-consuming.
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Which Region Accounts for High Demand for Fabrication Gold?
“Growing Disposable Income and Rise in Purchasing Power Driving Demand for Gold Globally”
North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa are expected to generate significant demand for gold fabrication through 2033. Asia Pacific is anticipated to account for a substantial share of the market from 2023 to 2033.
Increase in Asia Pacific's growth is linked to the growing disposable income of individuals, which is boosting their capacity to spend on different luxury products and services. Among the countries in Asia Pacific, China, Türkiye, and India are generating profitable opportunities.
Gold jewelry is highly valued and admired by Indians, and it is often considered a prized possession for families. Unlike older generations, younger individuals are seeking more trustworthy and credible sources to purchase their jewelry. As a result, many jewelers are now exclusively selling hallmarked gold jewelry to attract these younger customers, which in turn, will create opportunities for new market players.
What is the Demand Outlook for Fabrication Gold in Japan?
“Growing Demand for Gold from Electronics Sector in Japan”
Demand for fabrication gold in Japan is estimated to advance at a CAGR of 2.5% from 2023 to 2033. The increasing need for gold as a prominent industrial metal in various applications, particularly in the electronics industry, may result in a rise in demand for gold fabrication in Japan.
How is Demand for Fabrication Gold Shaping Up in the United States?
“Increase in Gold Jewelry Brands Contributing to Market Expansion”
Revenue from fabrication gold in the United States reached US$ 35 billion in 2022. The United States has been transitioning away from mass-market gold sales and experiencing a revival in the form of significant growth in designer gold jewelry brands. This trend has the potential to boost the demand for fabricated gold in the country.
Which Market Trends are Influencing the Demand for Fabrication Gold in Germany?
“Increasing Popularity of Physical Gold Ownership among Germans”
Demand for gold fabrication is forecasted to expand at a CAGR of 3.3% from 2023 to 2033 in Germany. Ownership of physical gold is extremely common among Germans. They use gold as an investment in the form of gold coins and gold bars, which will fuel the demand for gold fabrication.
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Which Material Source is Projected to Account for High Market Share?
“Scrap Supply Segment to Advance at Noteworthy Rate”
The global fabrication gold market is classified into mine production and scrap supply, based on material source. The scrap supply segment is anticipated to expand at a CAGR of 5%, while mine production is predicted to advance at a CAGR of 4.5% through 2033 and reach a valuation of US$ 126 billion by the end of 2033.
Where is the Application of Fabrication Gold Substantial?
“Fabrication Gold Providers Benefitting from Growing Demand for Gold Jewelry”
Fact.MR, in its recently published research report, stated that the jewelry segment is forecasted to account for a substantial revenue share of the market. Demand for gold jewelry is rising in various countries, including Türkiye, China, and India.
Gold jewelry holds significant cultural significance in numerous countries worldwide, and this link is directly associated with economic development. Additionally, the rise in employment opportunities has contributed to the growth of the middle-class population in developing countries like India, intensifying the demand for gold and related products as a long-term investment. As a result, this factor has created growth opportunities.
Key Market Players
Gold fabrication companies are investing in advanced tools to enhance their respective processes. Additionally, they are strengthening their supply chain management systems to ensure that high-quality products are provided to end-users.
AngloGold Ashanti Limited, Newmont Mining Corporation, Kinross Gold Corp, Barrick Gold Corporation, and Goldcorp are key players in this market.
Segmentation of Fabrication Gold Industry
By Material Source :
- Mine Production
- Scrap Supply
By Application :
- Official Coins
By Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- FAQs -
The global fabrication gold market is valued at US$ 145.3 billion in 2023.
Demand for gold fabrication is projected to reach US$ 228 billion by the end of 2033.
Demand for gold fabrication is anticipated to increase at a CAGR of 4.6% through 2033.
Revenue from gold fabrication is forecasted to rise at a CAGR of 4% in Canada.
The supply scrap segment is forecasted to advance at a CAGR of 5% CAGR from 2023 to 2033.
The fabrication gold market in the United States was valued at US$ 35 billion in 2022.
AngloGold Ashanti, Newmont Mining, and Kinross Gold are key gold fabrication companies.