Asia-Pacific: Unwrought Silver Market 2025

Unwrought Silver Market Size in Asia-Pacific

In 2021, the Asia-Pacific unwrought silver market decreased by -22.9% to $X, falling for the third year in a row after two years of growth. Over the period under review, consumption continues to indicate a deep contraction. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Unwrought Silver Production in Asia-Pacific

In value terms, unwrought silver production fell to $X in 2021 estimated in export price. Overall, production continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2020 when the production volume increased by 23%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Unwrought Silver Exports

Exports in Asia-Pacific

In 2021, overseas shipments of silver, unwrought or in powder form increased by 31% to X tons, rising for the second consecutive year after two years of decline. Total exports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +54.7% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, unwrought silver exports skyrocketed to $X in 2021. Overall, exports showed a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Hong Kong SAR was the main exporter of silver, unwrought or in powder form in Asia-Pacific, with the volume of exports accounting for X tons, which was near 39% of total exports in 2021. Japan (X tons) held the second position in the ranking, followed by China (X tons) and South Korea (X tons). All these countries together took near 59% share of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +20.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), China ($X) and South Korea ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 86% share of total exports.

China, with a CAGR of +17.1%, recorded the highest growth rate of the value of exports, among 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, with an increase of 28% against the previous year. In general, the export price, however, showed a slight setback. The pace of growth was the most pronounced in 2020 when the export price increased by 36% against the previous year. Over the period under review, the export prices reached the peak figure 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 Hong Kong SAR ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-1.9%), while the other leaders experienced a decline in the export price figures.

Unwrought Silver Imports

Imports in Asia-Pacific

In 2021, after two years of decline, there was significant growth in supplies from abroad of silver, unwrought or in powder form, when their volume increased by 17% to X tons. The total import volume increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by 26% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, unwrought silver imports soared to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons), Hong Kong SAR (X tons) and Japan (X tons) represented the major importer of silver, unwrought or in powder form in Asia-Pacific, generating 71% of total import. Taiwan (Chinese) (X tons) held a 10% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (5.8%). Thailand (X tons) and South Korea (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +13.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest unwrought silver importing markets in Asia-Pacific were Hong Kong SAR ($X), Japan ($X) and China ($X), with a combined 76% share of total imports.

China, with a CAGR of +14.5%, recorded the highest growth rate of the value of imports, in terms of 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

The import price in Asia-Pacific stood at $X per ton in 2021, surging by 29% against the previous year. Overall, the import price, however, recorded a pronounced decline. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a 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 Hong Kong SAR ($X per ton), while South Korea ($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 (+5.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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