PV industry demand for silver could rise by 20% this year

Demand for silver in the photovoltaic industry hit 193. 5 million ounces in 2023, according to the Silver Institute. It predicts that demand will grow by another 20% in 2024. Demand for silver in the PV industry increased by 64% from 118. 1 million ounces (Moz) in 2022 to 193. 5 Moz in 2023, according to the World Silver Survey 2024, which was recently published by the Silver Institute. The report forecasts the demand could increase a further 20% this year, reaching 232 Moz. Total silver demand fell by 7% last year, from 1,278. 9 Moz in 2022 to 1,195. 0 Moz in 2023. Silver Institute expects it ...

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