ASEAN: Silver Nitrate Market 2024

Silver Nitrate Market Size in ASEAN

The ASEAN silver nitrate market skyrocketed to $X in 2021, picking up by 49% against the previous year. The total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +45.7% against 2016 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Silver Nitrate Production in ASEAN

In value terms, silver nitrate production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2020 when the production volume increased by 5.5%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Silver Nitrate Exports

Exports in ASEAN

Silver nitrate exports skyrocketed to X tons in 2021, with an increase of 96% compared with the year before. Over the period under review, exports, however, continue to indicate a perceptible decline. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, silver nitrate exports skyrocketed to $X in 2021. Overall, exports, however, saw a deep downturn. The growth pace was the most rapid in 2020 with an increase of 75%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Singapore dominates exports structure, recording X tons, which was approx. 90% of total exports in 2021. It was distantly followed by Malaysia (X kg), achieving a 9.6% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to silver nitrate exports from Singapore stood at -4.9%. At the same time, Malaysia (+9.4%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +9.4% from 2012-2021. Malaysia (+6.7 p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by -6.6% from 2012 to 2021, respectively.

In value terms, Singapore ($X) remains the largest silver nitrate supplier in ASEAN, comprising 90% of total exports. The second position in the ranking was held by Malaysia ($X), with a 7.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Singapore totaled -20.2%.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, which is down by -20.3% against the previous year. In general, the export price faced a deep reduction. The most prominent rate of growth was recorded in 2020 an increase of 75% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+1.0%).

Silver Nitrate Imports

Imports in ASEAN

Silver nitrate imports skyrocketed to X tons in 2021, growing by 73% compared with the previous year's figure. Over the period under review, imports recorded a remarkable increase. The growth pace was the most rapid in 2016 with an increase of 96%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, silver nitrate imports skyrocketed to $X in 2021. In general, imports saw a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Singapore (X tons), distantly followed by Malaysia (X tons), Thailand (X tons), Vietnam (X tons) and the Philippines (X tons) represented the major importers of silver nitrate, together constituting 97% of total imports. Indonesia (X tons) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Malaysia (with a CAGR of +22.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported silver nitrate in ASEAN, comprising 58% of total imports. The second position in the ranking was held by Malaysia ($X), with a 17% share of total imports. It was followed by Vietnam, with an 8.5% share.

In Singapore, silver nitrate imports expanded at an average annual rate of +35.0% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (+24.0% per year) and Vietnam (+10.5% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, surging by 55% against the previous year. Over the period under review, the import price recorded buoyant growth. The most prominent rate of growth was recorded in 2017 when the import price increased by 69%. The level of import peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+21.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform