Eastern Asia: Silver Nitrate Market 2024

Silver Nitrate Market Size in Eastern Asia

The East Asian silver nitrate market shrank remarkably to $X in 2021, waning by -24.9% against the previous year. Over the period under review, consumption showed a perceptible contraction. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Silver Nitrate Production in Eastern 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 relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 6.9%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Silver Nitrate Exports

Exports in Eastern Asia

In 2021, overseas shipments of silver nitrate increased by 148% to X tons, rising for the second consecutive year after six years of decline. Overall, exports enjoyed a slight increase. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, silver nitrate exports skyrocketed to $X in 2021. In general, exports enjoyed strong growth. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, China (X tons) represented the key exporter of silver nitrate, constituting 42% of total exports. Japan (X tons) took a 22% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (22%) and South Korea (14%).

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +36.4%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest silver nitrate supplying countries in Eastern Asia were China ($X), Taiwan (Chinese) ($X) and Japan ($X), together comprising 94% of total exports.

In terms of the main exporting countries, China, with a CAGR of +32.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, picking up by 22% against the previous year. In general, the export price continues to indicate prominent growth. The pace of growth appeared the most rapid in 2013 an increase of 53% against the previous year. Over the period under review, the export prices hit record highs in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+4.9%), while the other leaders experienced a decline in the export price figures.

Silver Nitrate Imports

Imports in Eastern Asia

Silver nitrate imports rose remarkably to X tons in 2021, growing by 12% on the previous year's figure. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 23%. 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, silver nitrate imports soared to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Taiwan (Chinese) was the key importing country with an import of about X tons, which reached 56% of total imports. China (X tons) ranks second in terms of the total imports with a 22% share, followed by South Korea (17%). Hong Kong SAR (X kg) and Japan (X kg) followed a long way behind the leaders.

Imports into Taiwan (Chinese) increased at an average annual rate of +4.5% from 2012 to 2021. At the same time, Japan (+31.2%) and South Korea (+2.3%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +31.2% from 2012-2021. By contrast, China (-4.3%) and Hong Kong SAR (-19.3%) illustrated a downward trend over the same period. While the share of Taiwan (Chinese) (+21 p.p.), South Korea (+4.2 p.p.) and Japan (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of China (-8 p.p.) and Hong Kong SAR (-19.1 p.p.) displayed negative dynamics.

In value terms, the largest silver nitrate importing markets in Eastern Asia were South Korea ($X), China ($X) and Taiwan (Chinese) ($X), with a combined 84% share of total imports. These countries were followed by Hong Kong SAR and Japan, which together accounted for a further 16%.

In terms of the main importing countries, Japan, with a CAGR of +20.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, growing by 58% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+10.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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