Australia: Silver Nitrate Market 2024

Silver Nitrate Market Size in Australia

In 2021, after three years of growth, there was significant decline in the Australian silver nitrate market, when its value decreased by -28.7% to $X. Over the period under review, consumption showed a abrupt setback. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Silver Nitrate Production in Australia

In value terms, silver nitrate production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when the production volume increased by 30% against the previous year. As a result, production reached the peak level of $X, and then declined in the following year.

Silver Nitrate Exports

Exports from Australia

In 2021, after four years of decline, there was significant growth in shipments abroad of silver nitrate, when their volume increased by 218% to X tons. In general, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by 460%. 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. Over the period under review, exports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2020 with an increase of 109%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire (X tons) was the main destination for silver nitrate exports from Australia, with a 64% share of total exports. Moreover, silver nitrate exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Papua New Guinea (X kg), sixfold. Canada (X kg) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2021, the average annual growth rate of volume to Cote d'Ivoire totaled +126.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (+47.5% per year) and Canada (+97.4% per year).

In value terms, Canada ($X) remains the key foreign market for silver nitrate exports from Australia, comprising 43% of total exports. The second position in the ranking was held by Papua New Guinea ($X), with a 20% share of total exports. It was followed by Cote d'Ivoire, with a 17% share.

From 2012 to 2021, the average annual growth rate of value to Canada stood at +83.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (+31.2% per year) and Cote d'Ivoire (+77.6% per year).

Export Prices by Country

In 2021, the average silver nitrate export price amounted to $X per ton, reducing by -57.8% against the previous year. Over the period under review, the export price saw a deep slump. The pace of growth appeared the most rapid in 2020 when the average export price increased by 173% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell sharply in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (-6.9%), while the prices for the other major destinations experienced a decline.

Silver Nitrate Imports

Imports into Australia

In 2021, overseas purchases 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. Overall, imports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2014 when imports increased by 294%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, silver nitrate imports surged to $X in 2021. In general, imports, however, showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 170% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X kg), Germany (X kg) and the UK (X kg) were the main suppliers of silver nitrate imports to Australia, together accounting for 88% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of -1.1%), while imports for the other leaders experienced a decline.

In value terms, China ($X) constituted the largest supplier of silver nitrate to Australia, comprising 60% of total imports. The second position in the ranking was held by the UK ($X), with a 28% share of total imports. It was followed by the United States, with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-5.2% per year) and the United States (-10.3% per year).

Import Prices by Country

In 2021, the average silver nitrate import price amounted to $X per ton, picking up by 26% against the previous year. Overall, the import price saw a strong expansion. The pace of growth appeared the most rapid in 2017 an increase of 163%. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Germany ($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 UK (+22.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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