Eastern Europe: Silver Nitrate Market 2024

Silver Nitrate Market Size in Eastern Europe

The East European silver nitrate market skyrocketed to $X in 2021, jumping by 51% against the previous year. The total consumption indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +77.9% against 2019 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Silver Nitrate Production in Eastern Europe

In value terms, silver nitrate production contracted to $X in 2021 estimated in export price. Overall, production, however, recorded a strong expansion. The pace of growth was the most pronounced in 2019 with an increase of 391% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then dropped in the following year.

Silver Nitrate Exports

Exports in Eastern Europe

Silver nitrate exports stood at X tons in 2021, picking up by 11% on 2020 figures. Overall, exports recorded a strong expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 96%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, silver nitrate exports skyrocketed to $X in 2021. In general, exports enjoyed a notable expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 82% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

In 2021, the Czech Republic (X tons) was the largest exporter of silver nitrate, generating 63% of total exports. It was distantly followed by Russia (X tons), Bulgaria (X tons) and Poland (X tons), together constituting a 36% share of total exports.

Exports from the Czech Republic increased at an average annual rate of +10.1% from 2012 to 2021. At the same time, Bulgaria (+160.0%) and Russia (+39.8%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +160.0% from 2012-2021. By contrast, Poland (-12.0%) illustrated a downward trend over the same period. Russia (+14 p.p.), Bulgaria (+13 p.p.) and the Czech Republic (+13 p.p.) significantly strengthened its position in terms of the total exports, while Poland saw its share reduced by -38.7% from 2012 to 2021, respectively.

In value terms, the Czech Republic ($X) remains the largest silver nitrate supplier in Eastern Europe, comprising 71% of total exports. The second position in the ranking was taken by Bulgaria ($X), with a 15% share of total exports. It was followed by Russia, with an 8.1% share.

In the Czech Republic, silver nitrate exports increased at an average annual rate of +7.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Bulgaria (+306.4% per year) and Russia (+29.6% per year).

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, with an increase of 12% against the previous year. Overall, the export price, however, showed a pronounced descent. The most prominent rate of growth was recorded in 2020 an increase of 22%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+56.3%), while the other leaders experienced a decline in the export price figures.

Silver Nitrate Imports

Imports in Eastern Europe

In 2021, supplies from abroad of silver nitrate was finally on the rise to reach X tons after two years of decline. In general, imports continue to indicate a notable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, silver nitrate imports soared to $X in 2021. Total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +72.9% against 2019 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 36% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

The Czech Republic (X tons) and Poland (X tons) prevails in imports structure, together generating 91% of total imports. Bulgaria (X tons) and Ukraine (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Ukraine (with a CAGR of +32.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X) constitutes the largest market for imported silver nitrate in Eastern Europe, comprising 76% of total imports. The second position in the ranking was held by Poland ($X), with an 11% share of total imports. It was followed by Bulgaria, with a 9.2% share.

From 2012 to 2021, the average annual growth rate of value in the Czech Republic amounted to +2.6%. In the other countries, the average annual rates were as follows: Poland (+1.8% per year) and Bulgaria (+1.9% per year).

Import Prices by Country

In 2021, the import price in Eastern Europe amounted to $X per ton, dropping by -40.1% against the previous year. In general, the import price showed a noticeable reduction. The growth pace was the most rapid in 2019 an increase of 49% against the previous year. The level of import peaked at $X per ton in 2020, and then shrank markedly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Bulgaria ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (-0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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