China: Silver Nitrate Market 2024

Silver Nitrate Market Size in China

For the seventh consecutive year, the Chinese silver nitrate market recorded decline in sales value, which decreased by -34.2% to $X in 2021. In general, consumption recorded a deep 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 China

In value terms, silver nitrate production declined to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 2% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Silver Nitrate Exports

Exports from China

In 2021, approx. X tons of silver nitrate were exported from China; increasing by 244% compared with 2020. Over the period under review, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 377% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in years to come.

In value terms, silver nitrate exports soared to $X in 2021. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 409%. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in years to come.

Exports by Country

Malaysia (X tons) was the main destination for silver nitrate exports from China, with a 86% share of total exports. Moreover, silver nitrate exports to Malaysia exceeded the volume sent to the second major destination, Australia (X kg), sevenfold.

From 2012 to 2021, the average annual growth rate of volume to Malaysia amounted to +400.0%.

In value terms, Malaysia ($X) remains the key foreign market for silver nitrate exports from China, comprising 85% of total exports. The second position in the ranking was held by Australia ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Malaysia amounted to +386.9%.

Export Prices by Country

The average silver nitrate export price stood at $X per ton in 2021, growing by 5.9% against the previous year. Overall, the export price, however, recorded a perceptible decrease. The pace of growth appeared the most rapid in 2017 an increase of 36% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Malaysia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (-1.9%).

Silver Nitrate Imports

Imports into China

In 2021, purchases abroad of silver nitrate was finally on the rise to reach X tons after four years of decline. Overall, imports, however, continue to indicate a pronounced downturn. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, silver nitrate imports soared to $X in 2021. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 102%. 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, Germany (X tons) constituted the largest supplier of silver nitrate to China, with a 55% share of total imports. Moreover, silver nitrate imports from Germany exceeded the figures recorded by the second-largest supplier, the UK (X kg), threefold. The third position in this ranking was taken by the United States (X kg), with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+82.3% per year) and the United States (-18.4% per year).

In value terms, the largest silver nitrate suppliers to China were Germany ($X), the United States ($X) and the UK ($X), with a combined 72% share of total imports.

In terms of the main suppliers, the UK, with a CAGR of +85.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average silver nitrate import price stood at $X per ton in 2021, waning by -4.1% against the previous year. In general, import price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +4.1% 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 decreased by -22.9% against 2019 indices. The pace of growth appeared the most rapid in 2016 when the average import price increased by 38% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 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 Spain ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+21.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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