Belgium: Silver Nitrate Market 2024

Silver Nitrate Market Size in Belgium

The Belgian silver nitrate market shrank notably to $X in 2021, declining by -93.7% against the previous year. Overall, consumption saw a sharp contraction. Silver nitrate consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Silver Nitrate Production in Belgium

In value terms, silver nitrate production dropped dramatically to $X in 2021 estimated in export price. Overall, production showed a deep reduction. The most prominent rate of growth was recorded in 2019 when the production volume increased by 10%. Silver nitrate production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Silver Nitrate Exports

Exports from Belgium

In 2021, silver nitrate exports from Belgium rose rapidly to X tons, increasing by 6.1% on the previous year. In general, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by 37% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, silver nitrate exports contracted to $X in 2021. Over the period under review, exports, however, recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2020 with an increase of 12% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons) was the main destination for silver nitrate exports from Belgium, with a 59% share of total exports. Moreover, silver nitrate exports to the Netherlands exceeded the volume sent to the second major destination, Italy (X tons), fourfold. The third position in this ranking was held by Spain (X tons), with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Netherlands stood at +74.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+90.0% per year) and Spain (+65.9% per year).

In value terms, the Netherlands ($X) emerged as the key foreign market for silver nitrate exports from Belgium, comprising 69% of total exports. The second position in the ranking was held by Italy ($X), with a 10% share of total exports. It was followed by Spain, with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Netherlands stood at +79.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+86.8% per year) and Spain (+63.5% per year).

Export Prices by Country

The average silver nitrate export price stood at $X per ton in 2021, dropping by -12.2% against the previous year. Overall, the export price recorded a abrupt decline. The pace of growth was the most pronounced in 2019 when the average export price decreased by -5.4%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Austria ($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 Egypt (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Silver Nitrate Imports

Imports into Belgium

In 2021, supplies from abroad of silver nitrate was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, recorded a perceptible setback. The pace of growth appeared the most rapid in 2018 when imports increased by 185% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, silver nitrate imports soared to $X in 2021. Over the period under review, imports, however, saw a abrupt descent. The pace of growth was the most pronounced in 2019 when imports increased by 476% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X tons), Germany (X tons) and the UK (X tons) were the main suppliers of silver nitrate imports to Belgium, with a combined 99% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +53.5%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the Netherlands ($X) constituted the largest supplier of silver nitrate to Belgium, comprising 64% of total imports. The second position in the ranking was taken by the UK ($X), with a 19% share of total imports. It was followed by Germany, with a 15% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands stood at +79.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+4.5% per year) and Germany (+20.5% per year).

Import Prices by Country

In 2021, the average silver nitrate import price amounted to $X per ton, which is down by -9.9% against the previous year. Over the period under review, the import price recorded a deep setback. The most prominent rate of growth was recorded in 2019 an increase of 614%. The import price peaked 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 supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Germany ($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 Netherlands (+17.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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