光伏需求飙升带动白银消费激增

2023年工业领域的白银需求激增20%，达到创纪录的654.4Moz，这主要是受到蓬勃发展的光伏（PV）市场的推动。值得注意的是，仅光伏需求就显着增长了 64%，达到 193.5Moz，凸显了白银在这个快速扩张的可再生能源领域的重要作用。这一增长得益于高于预期的光伏产能增量和新一代太阳能电池的采用。

Surge in Silver Demand for Photovoltaics Outpaces Forecasts

光伏白银需求激增超出预期

New York, April 17, 2024

纽约，2024 年 4 月 17 日

The silver industry has witnessed a remarkable surge in demand for photovoltaic (PV) applications, surpassing initial estimates. According to the World Silver Survey 2024, released today by the Silver Institute, silver demand in this sector skyrocketed by a staggering 64 percent to 193.5 million ounces (Moz) in 2023.

白银行业对光伏（PV）应用的需求显着激增，超出了最初的估计。根据白银研究所今天发布的《2024 年世界白银调查》，该行业的白银需求在 2023 年猛增了 64%，达到 1.935 亿盎司 (Moz)。

This substantial growth is attributed to the rapid expansion of PV capacity and the adoption of advanced solar cell technologies. The renewable energy sector is driving the increased consumption of silver, which is an essential component in solar panel production.

这一大幅增长归因于光伏产能的快速扩张和先进太阳能电池技术的采用。可再生能源行业正在推动白银消费的增加，白银是太阳能电池板生产的重要组成部分。

Industrial Demand Drives Record Highs

工业需求创历史新高

Overall, industrial demand for silver reached an unprecedented 654.4 Moz in 2023, a 11.4 percent increase compared to 2022. This surge was propelled by the growth in green economy applications, including PV, power grid construction, and automotive electrification.

总体而言，2023年白银的工业需求达到前所未有的654.4莫兹，比2022年增长11.4%。这种激增是由光伏、电网建设和汽车电气化等绿色经济应用的增长推动的。

Electrical and electronics applications accounted for 445.1 Moz of silver demand, a notable 20 percent increase. This growth is a testament to the indispensable role of silver in PV cells and other cutting-edge technologies.

电气和电子应用占白银需求的 445.1 Moz，显着增长了 20%。这种增长证明了白银在光伏电池和其他尖端技术中不可或缺的作用。

Other Green Applications Gain Momentum

其他绿色应用获得动力

In addition to PV, other green-related sectors also contributed to the rising industrial demand for silver. The construction of new power grids and the electrification of vehicles, driven by the push for sustainability, further reinforced silver's use in these industries.

除光伏外，其他绿色相关行业也推动了工业对白银需求的上升。在可持续发展的推动下，新电网的建设和汽车的电气化进一步加强了白银在这些行业的使用。

Supply Deficit Persists

供应短缺持续存在

Despite the robust demand, silver supply has been unable to keep pace. Global silver production declined slightly by 1 percent in 2023 to 830.5 Moz, impacted by labor strikes, reduced ore grades, and mine closures. Recycling efforts, which account for approximately 18 percent of total supply, also experienced modest growth.

尽管需求强劲，但白银供应却未能跟上。受劳工罢工、矿石品位下降和矿山关闭的影响，2023 年全球白银产量小幅下降 1%，至 830.5 Moz。约占总供应量 18% 的回收工作也出现了小幅增长。

Consequently, the silver market has faced a structural deficit for the third consecutive year, with a shortfall of 184.3 Moz in 2023. This deficit is expected to widen further in 2024, driven by strong demand and limited supply.

因此，白银市场连续第三年面临结构性赤字，2023年缺口达184.3莫兹。在强劲需求和有限供应的推动下，预计2024年这一缺口将进一步扩大。

Demand Outlook: Continued Growth

需求前景：持续增长

The Silver Institute's 2024 outlook predicts a solid year for silver demand, with a projected increase of 2 percent. Industrial fabrication, including PV applications, is anticipated to drive this growth. Jewelry and silverware fabrication are also expected to see modest gains.

白银协会 (Silver Institute) 的 2024 年展望预测，白银需求将强劲，预计增长 2%。包括光伏应用在内的工业制造预计将推动这一增长。珠宝和银器制造预计也将出现小幅增长。

Silver Price on the Rise

白银价格上涨

In line with the robust demand, the average silver price increased by 7 percent in 2023. This trend has continued into 2024, with the silver price experiencing a 30 percent surge since the beginning of the year.

与强劲的需求相一致，2023年白银平均价格上涨了7%。这一趋势一直持续到2024年，白银价格自年初以来飙升了30%。

Silver's Role Beyond Traditional Applications

白银超越传统应用的作用

The Survey highlights the growing applications of silver beyond its traditional uses. Silver's exceptional properties make it an essential material in emerging technologies, including artificial intelligence (AI). End uses expected to incorporate silver in AI encompass transportation, nanotechnology, biotechnology, healthcare, consumer wearables, computing, and energy in data centers.

该调查强调了白银在其传统用途之外的日益增长的应用。白银的卓越特性使其成为新兴技术（包括人工智能（AI））的重要材料。预计将白银融入人工智能的最终用途包括交通、纳米技术、生物技术、医疗保健、消费类可穿戴设备、计算和数据中心能源。

About the World Silver Survey

关于世界白银调查

Published annually since 1990, the World Silver Survey provides comprehensive data and analysis on the global silver market. The 34th edition, researched and produced by Metals Focus, is sponsored by leading companies from North and South America, Europe, and Oceania.

自 1990 年以来，世界白银调查每年发布一次，提供全球白银市场的全面数据和分析。第 34 届会议由 Metals Focus 研究和制作，由来自北美、南美、欧洲和大洋洲的领先公司赞助。

This report is a valuable resource for market participants, industry analysts, investors, and policymakers seeking insights into the dynamics and outlook of the silver market.

对于寻求深入了解白银市场动态和前景的市场参与者、行业分析师、投资者和政策制定者来说，本报告是宝贵的资源。