The use of Silver in catalysts is expected to keep growing. Catalysts basically help speed up the rate of a chemical reaction, producing the desired end-product without actually being part of it. The primary use of silver in catalysts is to produce ethylene oxide, which then goes to make polyester and other materials, as well as detergents, agro-chemicals and pharmaceuticals. This is a growing market, where industry analysts expect 14% increase in annual production over the next 20 years. Currently China's demand is growing at a faster pace.

For silver use as the EO catalyst, it is expected that this industry, which currently uses around 100 million ounces, will go as high as 138 million ounces by the year 2020. 

The silver as a catalyst, once used, is reclaimed again after a period of time in use. Per change, there is an approximate loss of about 2% of silver. And with each catalyst in this industry holding around 2 moz of silver, that would indicate a loss of 40,000 ounces per change out. But the truth is that even this metal isn't lost to the market in the end, as it eventually does get reclaimed at a later stage by the refinery.

It is claimed that there are 100 million ounces of silver in catalyst form at any given time. As long as this industry continues to need silver to produce this reaction, and create ethylene oxide, then that silver will not return to the market. But if ever there is a scientific advancement where users can either thrift in the catalytic process or remove silver completely, then some or all of that silver may come back. This is always a threat to any commodity, but more so if the commodity is pricier compared to similar metals.