Silver's Six-Year Deficit: Solar and Industry Drain Global Stocks
Silver Institute World Silver Survey · World Bank Commodity Markets
CUMULATIVE DEFICIT (2021–2026)
762M oz
Stock drawdown since 2021
2026 INDUSTRIAL SHARE
62%
Of total annual demand
SOLAR DEMAND GROWTH
+185%
Since 2020
MINE SUPPLY LAG
10–15 yrs
Discovery to production
Supply vs Demand (million oz)
Supply
Demand
Deficit Area