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Precious Metals Production in the UK Industry Data and Analysis
The precious metals production industry has expanded rapidly in recent years as higher prices lifted the value of gold, silver and platinum group metals processed by UK refiners and recyclers. Metal prices matter directly because revenue reflects metal value. The London Bullion Market Association reported that gold returned 62.9% during 2025. Strong price moves encouraged households, jewellers and manufacturers to sell scrap into recycling channels, supporting steady refining activity across the UK. At the same time, higher prices raised the cost of buying feedstock, meaning producers had to commit more cash to inventory, tightening cash flow. This pressure has been harder for smaller producers to manage, while larger, accredited refiners have coped more easily. Over the five years through 2025-26, industry revenue is projected to rise at a compound annual rate of 32.1% to reach £460.6 million, with revenue expected to grow by 13.2% in 2025-26.
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What's included in this industry analysis
IBISWorld's research coverage on the Precious Metals Production industry in the United Kingdom includes market sizing, forecasting, data and analysis from 2016-2031. The most recent publication was released February 2026.
About this industry
What's this industry report about?
The Precious Metals Production industry in the United Kingdom operates under the SIC industry code C24.410. Companies in this industry refine precious metals like gold, silver and platinum. They also produce precious metal alloys, wires through metal drawing and precious metal foil laminates. Semi-products, which include standardised strips, sheets, tubes and ring blanks, are also manufactured. Related terms covered in the Precious Metals Production industry in the United Kingdom include bullion, platinum group metals, assaying and flocert.
What's included in this industry?
Products and services covered in Precious Metals Production industry in the United Kingdom include Refined gold and gold alloys, Refined silver and silver alloys and Refined platinum group metals and associated alloys.
What companies are included in this industry?
Companies covered in the Precious Metals Production industry in the United Kingdom include The Royal Mint Ltd, Johnson Matthey plc and Baird & Co Ltd.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Precious Metals Production industry in the United Kingdom.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Precious Metals Production industry in the United Kingdom.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Precious Metals Production industry in the United Kingdom.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Precious Metals Production industry in the United Kingdom. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Precious Metals Production industry in the United Kingdom. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Precious Metals Production industry in the United Kingdom. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Precious Metals Production industry in the United Kingdom. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Precious Metals Production industry in the United Kingdom.
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Frequently Asked Questions
What is the market size of the Precious Metals Production industry in the United Kingdom in 2026?
The market size of the Precious Metals Production industry in the United Kingdom is £460.6m in 2026.
How many businesses are there in the Precious Metals Production industry in the United Kingdom in 2026?
There are 53 businesses in the Precious Metals Production industry in the United Kingdom, which has grown at a CAGR of 5.3 % between 2021 and 2026.
How may import tariffs affect the Precious Metals Production industry in the United Kingdom?
The Precious Metals Production industry in the United Kingdom is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Precious Metals Production industry in the United Kingdom?
The Precious Metals Production industry in the United Kingdom is likely to be significantly impacted by export tariffs with exports accounting for a high share of industry revenue.
Has the Precious Metals Production industry in the United Kingdom grown or declined over the past 5 years?
The market size of the Precious Metals Production industry in the United Kingdom has been growing at a CAGR of 32.1 % between 2021 and 2026.
What is the forecast growth of the Precious Metals Production industry in the United Kingdom over the next 5 years?
Over the next five years, the Precious Metals Production industry in the United Kingdom is expected to grow.
What are the biggest companies in the Precious Metals Production industry in the United Kingdom?
The biggest companies operating in the Precious Metals Production industry in the United Kingdom are The Royal Mint Ltd, Johnson Matthey plc and Baird & Co Ltd
What does the Precious Metals Production industry in the United Kingdom include?
Refined gold and gold alloys and Refined silver and silver alloys are part of the Precious Metals Production industry in the United Kingdom.
Which companies have the highest market share in the Precious Metals Production industry in the United Kingdom?
The company holding the most market share in the Precious Metals Production industry in the United Kingdom is The Royal Mint Ltd.
How competitive is the Precious Metals Production industry in the United Kingdom?
The level of competition is moderate and steady in the Precious Metals Production industry in the United Kingdom.
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