Analyst Predicts Silver Prices Could Reach $200 Driven by Demand for New EV Battery Technology

Kevin Bambrough, a financial expert with over a decade of experience in commodities markets, has predicted that silver could reach $200 per ounce in the next 10 to 15 years, riding the wave of increased demand for a new EV battery technology developed by Samsung. According to Bambrough, the new batteries may require 1 kg of silver per car, driving silver usage sky-high.

Silver to Reach $200 Amid Increased Electric Vehicle Adoption Driven by New Battery Technology

Kevin Bambrough, a retired financial analyst with over ten years inside commodity markets, is very bullish about the future of silver. Bambrough believes that the precious metal will be able to reach $200 per ounce prices supported by the emergence of a revolutionary new electric vehicle (EV) battery technology that uses silver in its structure.

The new solid-state batteries developed by Samsung feature a silver-carbon (Ag-C) composite layer for the anode allowing them to have an increased life, dramatically reduced charging times, and larger operating longevity. According to his estimates, each battery cell might require up to 5 grams of silver, putting the whole requirement for an average car battery at 1 kg.

Bambrough assesses that if only 20% of the yearly global car market adopts this kind of battery (16 million EVs), it would increase silver demand sky-high, reaching the 16,000 metric ton mark.

About this, he stated:

This would represent a significant portion of the current global silver production, which is approximately 25,000 metric tons annually, highlighting the substantial impact on the silver market.

However, Bambrough acknowledged that his estimations might be off and that silver numbers might be high as the details for this new tech have not been disclosed. Still, if this happens, it would exacerbate the growing silver deficit in today’s market, which is experiencing an increased demand for industrial applications such as solar panels.

Analysts from JPMorgan recently also disclosed they believed silver prices would soar in 2025, led by expected Federal Reserve rate cuts and supply constraints.

What do you think about the future of the silver market? Tell us in the comments section below. #Write2Earn