Asia-Pacific: Silver Market 2025

Silver Market Size in Asia-Pacific

The Asia-Pacific silver market contracted to $X in 2021, shrinking by -6.3% against the previous year. Overall, consumption showed a noticeable shrinkage. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Silver Production in Asia-Pacific

In value terms, silver production fell to $X in 2021 estimated in export price. Overall, production, however, saw a pronounced contraction. The growth pace was the most rapid in 2020 when the production volume increased by 27%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Silver Exports

Exports in Asia-Pacific

In 2021, overseas shipments of silver including silver plated with gold or platinum increased by 37% to X tons, rising for the second consecutive year after two years of decline. Total exports indicated notable growth from 2012 to 2021: its volume increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +60.2% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, silver exports skyrocketed to $X in 2021. Over the period under review, exports showed noticeable growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Hong Kong SAR (X tons) and Japan (X tons) represented the largest exporters of silver including silver plated with gold or platinum in Asia-Pacific, together mixing up 57% of total exports. China (X tons) held the next position in the ranking, followed by South Korea (X tons) and Taiwan (Chinese) (X tons). All these countries together took near 37% share of total exports. India (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +19.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest silver supplying countries in Asia-Pacific were Hong Kong SAR ($X), China ($X) and South Korea ($X), together accounting for 74% of total exports. Japan, Taiwan (Chinese) and India lagged somewhat behind, together comprising a further 22%.

In terms of the main exporting countries, India, with a CAGR of +25.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, with an increase of 29% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the export price increased by 32%. Over the period under review, the export prices hit record highs in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+5.0%), while the other leaders experienced more modest paces of growth.

Silver Imports

Imports in Asia-Pacific

After two years of decline, overseas purchases of silver including silver plated with gold or platinum increased by 21% to X tons in 2021. The total import volume increased at an average annual rate of +2.0% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, silver imports soared to $X in 2021. Total imports indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, 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.

Imports by Country

Hong Kong SAR (X tons), China (X tons), Japan (X tons) and India (X tons) represented roughly 67% of total imports in 2021. Taiwan (Chinese) (X tons) held the next position in the ranking, followed by Thailand (X tons) and South Korea (X tons). All these countries together held approx. 19% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +4.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest silver importing markets in Asia-Pacific were Hong Kong SAR ($X), India ($X) and Japan ($X), with a combined 58% share of total imports. China, Taiwan (Chinese), Thailand and South Korea lagged somewhat behind, together accounting for a further 30%.

China, with a CAGR of +11.4%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, with an increase of 30% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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 ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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