Asia-Pacific: Semi-Manufactured Silver Market 2025

Semi-Manufactured Silver Market Size in Asia-Pacific

In 2021, the Asia-Pacific semi-manufactured silver market increased by 26% to $X, rising for the sixth consecutive year after three years of decline. In general, consumption continues to indicate a moderate increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Semi-Manufactured Silver Production in Asia-Pacific

In value terms, semi-manufactured silver production amounted to $X in 2021 estimated in export price. Overall, production, however, saw a pronounced reduction. The pace of growth appeared the most rapid in 2016 when the production volume increased by 27% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Semi-Manufactured Silver Exports

Exports in Asia-Pacific

In 2021, overseas shipments of silver in semi-manufactured forms increased by 38% to X tons, rising for the second consecutive year after three years of decline. In general, exports, however, continue to indicate a abrupt descent. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, semi-manufactured silver exports surged to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt decrease. 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

Japan represented the key exporter of silver in semi-manufactured forms in Asia-Pacific, with the volume of exports amounting to X tons, which was near 49% of total exports in 2021. Taiwan (Chinese) (X tons) ranks second in terms of the total exports with a 17% share, followed by South Korea (10%), India (7.6%) and Australia (4.8%). The following exporters - Thailand (X tons) and Hong Kong SAR (X tons) - together made up 7.2% of total exports.

From 2012 to 2021, average annual rates of growth with regard to semi-manufactured silver exports from Japan stood at -2.9%. At the same time, Thailand (+51.3%) and India (+22.3%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +51.3% from 2012-2021. Australia and South Korea experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-13.2%) and Hong Kong SAR (-13.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Japan, India, South Korea, Thailand and Australia increased by +12, +6.9, +4.5, +4 and +2.1 percentage points, respectively.

In value terms, Japan ($X), Taiwan (Chinese) ($X) and India ($X) were the countries with the highest levels of exports in 2021, together accounting for 63% of total exports. Australia, South Korea, Thailand and Hong Kong SAR lagged somewhat behind, together accounting for a further 31%.

Thailand, with a CAGR of +64.9%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, increasing by 20% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the export price increased by 45% 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.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Australia ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+8.9%), while the other leaders experienced more modest paces of growth.

Semi-Manufactured Silver Imports

Imports in Asia-Pacific

In 2021, overseas purchases of silver in semi-manufactured forms increased by 17% to X tons, rising for the fifth year in a row after four years of decline. The total import volume increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, semi-manufactured silver imports surged to $X in 2021. Over the period under review, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 95% against the previous year. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

India represented the main importing country with an import of around X tons, which accounted for 38% of total imports. Thailand (X tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (8.6%), China (7.2%), Australia (6.9%), Hong Kong SAR (6.7%) and Malaysia (6.3%). Japan (X tons) followed a long way behind the leaders.

India was also the fastest-growing in terms of the silver in semi-manufactured forms imports, with a CAGR of +32.9% from 2012 to 2021. At the same time, Thailand (+3.8%), Australia (+2.9%) and Malaysia (+2.6%) displayed positive paces of growth. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, China (-8.1%), Japan (-9.2%) and Hong Kong SAR (-9.2%) illustrated a downward trend over the same period. While the share of India (+34 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Japan (-8.2 p.p.), China (-11.9 p.p.) and Hong Kong SAR (-13.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported silver in semi-manufactured forms in Asia-Pacific, comprising 56% of total imports. The second position in the ranking was taken by Thailand ($X), with a 14% share of total imports. It was followed by Australia, with a 9.4% share.

In India, semi-manufactured silver imports expanded at an average annual rate of +27.0% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (+4.2% per year) and Australia (-1.2% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, surging by 44% against the previous year. Over the period under review, the import price showed a buoyant increase. The pace of growth was the most pronounced in 2020 an increase of 77% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was India ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+6.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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