Asia: Silver Nitrate Market 2024

Silver Nitrate Market Size in Asia

In 2021, the Asian silver nitrate market increased by 31% to $X, rising for the second consecutive year after three years of decline. The market value increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2021 and is expected to retain growth in the near future.

Silver Nitrate Production in Asia

In value terms, silver nitrate production fell to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2015 with an increase of 64%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Silver Nitrate Exports

Exports in Asia

In 2021, overseas shipments of silver nitrate were finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. Over the period under review, exports, however, saw a noticeable contraction. The pace of growth was the most pronounced in 2016 with an increase of 221% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, silver nitrate exports soared to $X in 2021. In general, exports, however, showed a noticeable decline. The pace of growth appeared the most rapid in 2016 with an increase of 464%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, Singapore (X tons), China (X tons), Turkey (X tons), Japan (X tons), Taiwan (Chinese) (X tons) and India (X tons) represented the key exporter of silver nitrate in Asia, committing 89% of total export. It was distantly followed by South Korea (X tons), comprising a 6.6% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by China (with a CAGR of +36.4%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Taiwan (Chinese) ($X) and Japan ($X) were the countries with the highest levels of exports in 2021, with a combined 73% share of total exports.

China, with a CAGR of +32.6%, saw 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 mixed trends in the exports figures.

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, rising by 3.9% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the export price increased by 76% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2013; however, from 2014 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 Taiwan (Chinese) ($X per ton), while India ($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 (+6.9%), while the other leaders experienced mixed trends in the export price figures.

Silver Nitrate Imports

Imports in Asia

Silver nitrate imports skyrocketed to X tons in 2021, with an increase of 67% on 2020 figures. Over the period under review, imports posted a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, silver nitrate imports soared to $X in 2021. In general, imports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2016 with an increase of 123% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

In 2021, India (X tons), distantly followed by Singapore (X tons), Saudi Arabia (X tons), Malaysia (X tons), Pakistan (X tons), Turkey (X tons) and Bangladesh (X tons) were the major importers of silver nitrate, together making up 74% of total imports. The following importers - Thailand (X tons), Vietnam (X tons), Taiwan (Chinese) (X tons), the Philippines (X tons), Sri Lanka (X tons) and China (X tons) - together made up 20% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by India (with a CAGR of +52.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported silver nitrate in Asia, comprising 31% of total imports. The second position in the ranking was held by India ($X), with a 13% share of total imports. It was followed by Malaysia, with an 8.9% share.

In Singapore, silver nitrate imports increased 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: India (+63.6% per year) and Malaysia (+24.0% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, rising by 24% against the previous year. Import price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, silver nitrate import price increased by +58.8% against 2018 indices. The pace of growth appeared the most rapid in 2016 an increase of 37% against the previous year. Over the period under review, import prices hit record highs in 2021 and is likely to see gradual growth in years to come.

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

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