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World - Silver, Unwrought Or In Powder Form - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

World - Silver, Unwrought Or In Powder Form - Market Analysis, Forecast, Size, Trends And Insights

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Dec 11, 2023

Top Import Markets for Unwrought Silver

In recent years, the global market for unwrought silver has witnessed significant growth, with several countries emerging as key import markets for this precious metal. According to market intelligence provided by IndexBox, the world's leading market research platform, the top ten countries in terms of import value of unwrought silver are:

  1. United States - $3.9 billion (2022)
  2. Hong Kong SAR - $2.4 billion (2022)
  3. Canada - $1.9 billion (2022)
  4. United Kingdom - $1.7 billion (2022)
  5. Turkey - $1.5 billion (2022)
  6. Switzerland - $1.3 billion (2022)
  7. Japan - $1.2 billion (2022)
  8. China - $1.0 billion (2022)
  9. Germany - $993.8 million (2022)
  10. Italy - $656.2 million (2022)

This article will explore these top import markets, their key statistics, and the factors driving their demand for unwrought silver.

1. United States

The United States stands as the largest market for unwrought silver imports, with a value of $3.9 billion in 2022. This can be attributed to its robust industrial sector, extensive jewelry market, and high demand for silver bullion and coins. The country's silver imports serve various purposes, ranging from industrial applications in electronics and photography to investment and adornment.

2. Hong Kong SAR

Hong Kong SAR takes the second spot in terms of import value, with $2.4 billion worth of unwrought silver imports in 2022. As a global financial hub and major jewelry trading center, Hong Kong SAR benefits from its strategic location and strong consumer demand for silver products. The city serves as a regional hub for silver refining and distribution.

3. Canada

Canada ranks third in the world for unwrought silver imports, with a value of $1.9 billion in 2022. The country boasts a well-developed mining industry, making it one of the leading silver producers globally. Additionally, Canada has a vibrant jewelry market and a growing demand for investment-grade silver products.

4. United Kingdom

The United Kingdom holds the fourth position in the list, importing unwrought silver valued at $1.7 billion in 2022. The country has a rich tradition of silverware and jewelry manufacturing, contributing to a significant demand for silver. Moreover, London is a major global center for precious metals trading, attracting a considerable volume of silver imports.

5. Turkey

Turkey is another prominent market for unwrought silver, with imports worth $1.5 billion in 2022. The country has a strong silver jewelry industry and a culture that values gold and silver adornments. Turkey's geographic location also facilitates its position as a regional trading hub for silver.

6. Switzerland

Switzerland imports unwrought silver worth $1.3 billion in 2022, earning it the sixth spot on the list. The country is renowned for its expertise in refining and processing precious metals. Switzerland's strategic location, along with its reliable financial system, helps attract significant volumes of silver imports.

7. Japan

Japan ranks seventh with unwrought silver imports valued at $1.2 billion in 2022. The country has a large electronics industry that relies on silver for various applications, including semiconductors and electrical contacts. Additionally, Japan has a strong demand for silver products, such as traditional handicrafts and fine jewelry.

8. China

China, a major player in the global trade of precious metals, imports unwrought silver worth $1.0 billion in 2022. The country's expanding manufacturing sector, including the electronics and automotive industries, requires significant amounts of silver. Additionally, China has a large population with a growing demand for silver jewelry and investment-grade silver products.

9. Germany

With imports valued at $993.8 million in 2022, Germany secures the ninth position in the list. The country has a robust industrial sector that utilizes silver in various applications, including electrical engineering, automotive manufacturing, and medical technology. Moreover, Germany has a well-developed market for silverware and jewelry.

10. Italy

Italy closes the list of top import markets for unwrought silver, with imports valued at $656.2 million in 2022. The country is renowned for its craftsmanship in the jewelry and silverware sectors. Italy's historic tradition of silver artistry, along with its vibrant design industry, contributes to the demand for unwrought silver.

Overall, these top import markets play a critical role in driving the global demand for unwrought silver. Their diverse industrial sectors, strong consumer markets, and cultural appreciation for silver contribute to their significant imports. The data provided by IndexBox's market intelligence platform offers valuable insights into the import value of unwrought silver across these key markets.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global unwrought silver market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 24411030 - Silver, unwrought or in powder form (including plated with gold or platinum)

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Company coverage:

Industrias Penoles SAB de CV, Polymetal International PLC, Fresnillo PLC, Pan American Silver Corp., Wheaton Precious Metals Corp., Coeur Mining Inc., Buenaventura Mining Co. Inc., Hecla Mining Co., First Majestic Silver Corp., Fortuna Silver Mines Inc., Endeavour Silver, Silvercorp Metals, New Pacific Metals, Gatos Silver, Americas Gold and Silver Corp., Great Panther Mining, Avino Silver & Gold Mines, Silver One Resources, Codelco, Atacama Silver SpA

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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