Silver is emerging as one of the most critical metals in the global shift toward green energy and high-tech innovation. While traditionally seen as a precious metal, silver now plays a central role in multiple industries—from solar energy and electric vehicles to medical devices and water purification.
Silver Goes Green: The Metal Powering a Sustainable Tomorrow
Unlike gold, which is primarily held as a store of value, silver enjoys strong industrial demand, making it a dynamic asset for investors. And in 2025, silver’s story is being driven by two big forces: skyrocketing green tech demand and tight supply.
Electronics and EV Growth
Silver is unmatched when it comes to electrical conductivity. It’s found in almost every smartphone, laptop, and electric car. The electronics industry alone consumed more than 200 million ounces of silver back in 2018, and that number is rising fast.
As electric vehicles become more popular, the metal’s demand can surge even further. Hybrid and EV production is expected to triple silver use in the auto sector by 2040, according to the Silver Institute.
Solar Power Surge
Silver is also a key ingredient in photovoltaic (PV) cells—the heart of solar panels. In 2025, silver demand from the solar sector is projected to account for 14% of global demand, up from 5% in 2014. Even as manufacturers reduce silver use per panel, the explosive growth in solar installations is driving total consumption higher. The Silver Institute expects a 20% increase in the solar PV market this year alone.
Other Green Uses:
Silver’s antimicrobial properties make it valuable for medical devices and coatings that prevent infections. It’s also used in catalysts to produce ethylene oxide, a critical compound for eco-friendly materials like antifreeze and textiles. On top of that, silver nanoparticles are now helping purify drinking water, a game-changing solution for underserved regions.
Silver Market 2025: Deficit Holds as Industrial Demand Breaks Records
The Silver Institute has highlighted that the global silver market is on track to post its fifth straight annual deficit in 2025. Although the shortfall may shrink by 19% to 149 million ounces (Moz), it will still remain one of the largest in recent years.
Let’s study how experts at The Silver Institute have portrayed the details of the silver market this year.
Industrial Demand Breaks New Ground
Global silver demand will hold steady at 1.20 billion ounces, with industrial use driving the market. As said before, silver demand in clean energy, electronics, and electric vehicles continues to climb. Industrial fabrication is set to rise by 3%, topping 700 Moz for the first time.
Photovoltaic installations will hit new highs despite policy shifts in the U.S., while vehicle electrification and AI-powered devices will further boost silver consumption. Demand will also grow in the ethylene oxide sector and brazing alloys.
Investment Rebounds, Jewelry Slows
Physical silver investment will rise by 3% as investors in Europe and North America adapt to higher prices. Easing profit-taking will also support the uptick. However, high local prices will likely prompt some Indian investors to sell, limiting the global recovery.
Jewelry demand is expected to drop by 6%. In India, soaring prices will drive a double-digit decline, while cautious spending in China will further weigh on sales. Western markets may hold up better as consumers shift from gold to branded silver jewelry. Meanwhile, global silverware demand will fall by 16%, led by a steep decline in Indian purchases.
Supply Grows but Still Lags Behind Demand
Silver supply will grow by 3% to reach 1.05 billion ounces, the highest level in over a decade. Mine production will increase by 2% to 844 Moz, with expansions underway in China, Canada, Chile, and Morocco.
Silver recycling will rise by 5%, crossing the 200 Moz mark for the first time since 2012. Industrial scrap and India’s price-led recycling of jewelry and silverware will drive this growth. However, this supply is still in deficit for the growing demand.
Why Silver Stocks Are Heating Up in 2025
Silver stocks are gaining attention in 2025 as strong demand and tight supply push prices higher. It’s trading around $36.73/oz in June 2025 and is widely expected to break past $40/oz by mid-year.
Furthermore, as industrial use of silver is growing fast, especially in solar panels, electric vehicles, and electronics, it’s helping silver companies grow and attract more investors.
At the same time, mine supply isn’t keeping up. Many new projects are delayed, and that’s limiting how much silver can be produced. This supply gap is boosting silver prices and making silver stocks more valuable.
Investors are also buying silver as a safe bet during uncertain times. The Silver Institute also pointed out that with high inflation, rising U.S. debt, and global trade tensions, many people are turning to silver as both a store of value and a key industrial metal.
Additionally, government support for clean energy is also lifting demand for silver. As this trend continues, silver stocks are set to benefit even more in 2025.
So, for investors looking to ride this wave, silver stocks offer high-leverage exposure to rising prices.
Top 3 Silver Stocks to Buy Now
These companies stand out for their performance, business models, and exposure to rising silver demand:
1. Wheaton Precious Metals (WPM)
Vancouver-based Wheaton is a top streaming company. Instead of mining, it signs contracts to buy silver and gold from other miners at fixed, low costs. This model reduces risk, ensures consistent margins, and lets Wheaton profit from price gains without high operating costs.
The company’s attributable silver production for 2025 is forecast at 20.5 to 22.5 million ounces
- Stock Strength: WPM returned 54% in the last year and is up 133% over five years.
- Investor Appeal: Ideal for conservative investors looking for reliable exposure to silver with less volatility than direct mining.
ESG Strategy
Wheaton plans to cut Scope 2 emissions by 50% by 2030 from a 2018 baseline of 38.5 tCO₂e. By 2040, it aims to align 80% of its Scope 3 financed emissions with 1.5˚C reduction targets.
It funds climate solutions at partner sites and industry-wide to support the mining sector’s low-carbon shift. Its Climate Solutions Committee backs clean tech, innovation, and decarbonization projects. The company also launched the Future of Mining Challenge to promote emerging climate technologies.
2. Pan American Silver (PAAS)
Pan American Silver is one of the largest silver producers globally, with operations across Latin America. The company benefits from large economies, geographic diversity, and exposure to both silver and gold. La Colorada of Mexico is one of the company’s flagship mines, producing 7.1 million ounces (Moz) of silver in 2017.
- Stock Strength: PAAS delivered 48% gains over one year and recently acquired Tahoe Resources to expand its footprint.
- Investor Appeal: Great for investors who want exposure to mining operations and are looking for long-term production growth.
2025 Energy and Emissions Reduction Goals
PAAS’s latest sustainability report highlights that by 2025, the company aims to cut energy use by 67,000 GJ—around 1.1% of its projected total—and lower GHG emissions by 27,500 tCO₂e, or about 8.2% of its 2025 base case.
It also reaffirms its broader goal to reduce global Scope 1 and Scope 2 emissions by at least 30% by 2030.
3. MAG Silver (MAG)
MAG Silver is focused on developing high-grade silver projects, most notably the Juanicipio project in Mexico, in partnership with Fresnillo. The Juanicipio mine is one of the most promising silver projects globally, with low costs and strong margins.
- Stock Strength: The stock surged 40% in the last year, with a 38% gain in the past six months as production ramped up.
- Investor Appeal: Thanks to MAG’s aggressive growth profile, it is perfect for those seeking higher returns with a bit more risk.
Climate Commitment at Juanicipio Mine
MAG Silver is taking action to fight climate change and reduce its impact on the planet and local communities. The company follows a clear plan that supports its values, operations, and what its stakeholders expect.
It owns 44% of the Juanicipio Mine, while Fresnillo plc owns 56% and runs the site. Since this is MAG’s main asset, it includes 100% of the mine’s energy use and emissions in its own reports, even though Fresnillo reports them as the operator.
- In 2023, the mine produced 21,614 tonnes of CO₂ emissions. Juanicipio was responsible for over 95% of this total.
Overall, experts predict silver prices to remain strong, making select silver stocks a good choice for long-term growth as clean energy demand increases. Factors like inflation, interest rates, and global clean energy policies can all influence silver prices, so staying informed on these trends can help with smarter investment decisions.
