Related: Silver ETF Slide Could End, Stage Big Comeback

As the solar panel industry expands, silver will also enjoy greater industrial demand. Global solar photovoltaic annual installed capacity is expected to hit 112 gigawatts by 2021, with cumulative increase in solar electricity capacity of 506 gigawatts over the next five years, according to GTM Research.

“In 2010 the two markets combined accounted for 1,200t. By the end of the decade the Silver Institute believes ‘the market will expand further to around 109Moz (3,400t), driven largely by healthy economic growth,’” according to ETF Daily News.

In the third quarter, investors pulled almost $222.6 million from SLV while SIVR saw modest inflows.

For more information on the silver market, visit our silver category.