Canada: Mercury Market 2024

Mercury Market Size in Canada

In 2021, after three years of growth, there was significant decline in the Canadian mercury market, when its value decreased by -11.8% to $X. In general, consumption, however, posted a notable expansion. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Mercury Production in Canada

In value terms, mercury production fell to $X in 2021 estimated in export price. Over the period under review, the total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +51.3% against 2018 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 36%. Over the period under review, production hit record highs at $X in 2020, and then declined in the following year.

Mercury Exports

Exports from Canada

In 2021, shipments abroad of mercuries decreased by -67.1% to X tons, falling for the fourth year in a row after four years of growth. In general, exports faced a deep setback. The pace of growth appeared the most rapid in 2017 when exports increased by 700% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, mercury exports reduced sharply to $X in 2021. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 546%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Cuba (X tons) was the main destination for mercury exports from Canada, with a 98% share of total exports. It was followed by the United States (X kg), with a 1.9% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Cuba totaled -3.4%.

In value terms, Cuba ($X) remains the key foreign market for mercuries exports from Canada, comprising 93% of total exports. The second position in the ranking was held by the United States ($X), with a 4.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Cuba totaled +7.1%.

Export Prices by Country

In 2021, the average mercury export price amounted to $X per ton, approximately reflecting the previous year. In general, the export price, however, continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by 104%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Cuba amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+35.8%).

Mercury Imports

Imports into Canada

In 2021, approx. X kg of mercuries were imported into Canada; shrinking by -97.6% on the previous year's figure. Over the period under review, imports saw a significant contraction. The pace of growth appeared the most rapid in 2014 with an increase of 23,208% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, mercury imports shrank markedly to $X in 2021. Overall, imports faced a sharp decrease. The growth pace was the most rapid in 2014 when imports increased by 21,829% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the United States (X kg) constituted the largest supplier of mercury to Canada, accounting for a 60% share of total imports. Moreover, mercury imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X kg), fourfold. India (X kg) ranked third in terms of total imports with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled -35.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-19.3% per year) and India (0.0% per year).

In value terms, China ($X), the United States ($X) and the UK ($X) appeared to be the largest mercury suppliers to Canada, with a combined 76% share of total imports. Germany, India and Austria lagged somewhat behind, together accounting for a further 21%.

India, with a CAGR of 0.0%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average mercury import price amounted to $X per ton, with an increase of 7% against the previous year. In general, the import price, however, showed a pronounced descent. The growth pace was the most rapid in 2016 when the average import price increased by 65%. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+433.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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