A new report from the World Silver Survey has revealed that demand for silver increased by 19% last year, reaching its highest levels since 2015. Part of this increase is attributed to growing demand and rising popularity. of the movie.
As explained in the Money Institute News, silver halide photography was the predominant form of photographic technology for over a century before the advent and growth of digital photography. As digital photography has become the norm, the use of film has declined, as has the demand for film.
But in 2021, the use of silver for photographic purposes actually increased by 3% compared to the previous year, a sign that the once-declining practice is enjoying a revival notable enough to appear as a driver of demand. silver world. In fact, demand has increased enough to mark photography as one of the biggest silver consumers after industrial use, jewelry, investment and silverware as overall silver demand rebounds.
Those who pay attention to the photography space have undoubtedly seen the popularity of film photography grow in recent years, but it was not yet clear if this popularity was significant enough to be more than a subject. of discussion outside the enthusiasts’ area. These data can be seen as hard evidence that the renaissance is more than just a niche phenomenon.
That said, there may be other factors at play here that skew the results. It is important to note that amateur photography and x-ray photography are grouped together in the Silver Survey report, which indicates that the main reason for this notable increase is the medical sector.
“Although still facing structural decline, demand for photography increased slightly last year, primarily as the medical sector struggled to resolve the backlog of delayed x-rays,” the report said.
It’s also worth noting that demand is still down almost 60% from where it was in 2010, but any uptick is a sign that something is changing. Sill, the Money Institute News relies on the return of demand for film photography as a major player and according to its surveys, the rising cost of materials and labor in film processing has not been enough to deter a large number of photographers. Additionally, labs are starting up and restarting film processing lines despite the challenges and associated costs in response.
“Many casual observers have the impression that film photography is dying out, but that’s just not true,” said the Money Institute News said. “Travel and shooting opportunities are back, along with the growing demand for single-use cameras. New photographic films are introduced and the impact of the X-ray backlog continues.
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