Albany, NY -- (ReleaseWire) -- 07/03/2014 -- Gold fabrication is converting pure gold into coins, jewelry with the help of technology. The coins are coated with gold with the help of electroplating technology. The jewelry market is a huge outlet for gold fabrication. Various types of golden ornaments and jewelry are made using fabrications. The market for fabricated gold is classified as dental & medical, electrical & electronic, jewelry & art and other applications
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The market for gold fabrication was mainly driven by increasing demand from jewelry & art market. The demand has been increasing owing to growing disposable income and changing lifestyles of the consumers. In addition, gold is also used in fabrication of ornaments and idols which has huge demand from Asian countries. Electrical & electronics market is likely to open new markets for fabricated gold in near future due to gold fabricated devices. The major restraint for the market would be higher cost of gold as compared to other metals used for fabrication.
In terms of demand, Asia Pacific is the leading region for fabricated gold. The demand is higher from India and China and accounted for more than half of the global demand for fabricated gold. The demand is huge owing to large disposable incomes and larger number of high-net-worth individuals (HNIWs) in these countries. Asia Pacific was followed by European countries. The demand in North America is likely to grow in near future due to rising demand from electrical & electronics market. The Rest of the World is expected to exhibit higher demand for fabricated gold, especially from the Middle East countries where there are large numbers of HNIWs.
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Some of the key manufacturers in the fabricated gold market are Newmont Mining Corporation, Barrick Gold Corporation, Kinross Gold Corporation, Tanaka Precious Metals, Italpreziosi S.p.A and Valcambi, among others.
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