EU: Silver Nitrate Market 2024

Silver Nitrate Market Size in the EU

The EU silver nitrate market rose rapidly to $X in 2021, growing by 9.2% against the previous year. Overall, consumption, however, saw a noticeable decrease. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Silver Nitrate Production in the EU

In value terms, silver nitrate production declined significantly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a abrupt decline. The growth pace was the most rapid in 2020 with an increase of 19%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Silver Nitrate Exports

Exports in the EU

In 2021, approx. X tons of silver nitrate were exported in the European Union; growing by 67% against the previous year's figure. Over the period under review, exports enjoyed a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, silver nitrate exports surged to $X in 2021. Overall, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 76% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

In 2021, France (X tons) was the key exporter of silver nitrate, mixing up 48% of total exports. Belgium (X tons) ranks second in terms of the total exports with a 25% share, followed by the Netherlands (13%) and Germany (6.1%). Italy (X tons) and Spain (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by the Netherlands (with a CAGR of +29.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest silver nitrate supplying countries in the European Union were the Netherlands ($X), Belgium ($X) and France ($X), with a combined 75% share of total exports.

Among the main exporting countries, the Netherlands, with a CAGR of +43.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per ton in 2021, reducing by -9.3% against the previous year. Overall, the export price recorded a perceptible setback. The most prominent rate of growth was recorded in 2018 an increase of 24% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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 the Netherlands ($X per ton), while France ($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 (+10.5%), while the other leaders experienced mixed trends in the export price figures.

Silver Nitrate Imports

Imports in the EU

In 2021, supplies from abroad of silver nitrate was finally on the rise to reach X tons after two years of decline. Total imports indicated a mild increase from 2012 to 2021: its volume increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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. Overall, imports, however, saw a slight reduction. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The Netherlands was the major importing country with an import of about X tons, which reached 32% of total imports. France (X tons) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by the Czech Republic (11%), Spain (10%), Poland (8.6%), Italy (7.7%), Belgium (7.4%) and Germany (6%).

The Netherlands was also the fastest-growing in terms of the silver nitrate imports, with a CAGR of +51.8% from 2012 to 2021. At the same time, Spain (+28.4%), Italy (+13.5%), the Czech Republic (+7.2%) and Poland (+2.4%) displayed positive paces of growth. By contrast, Belgium (-4.3%), France (-5.1%) and Germany (-13.5%) illustrated a downward trend over the same period. The Netherlands (+31 p.p.), Spain (+8.9 p.p.), Italy (+5 p.p.) and the Czech Republic (+4.3 p.p.) significantly strengthened its position in terms of the total imports, while Belgium, France and Germany saw its share reduced by -4.8%, -10.9% and -18.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) constitutes the largest market for imported silver nitrate in the European Union, comprising 52% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with a 13% share of total imports. It was followed by France, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value in the Netherlands totaled +122.8%. The remaining importing countries recorded the following average annual rates of imports growth: the Czech Republic (+2.6% per year) and France (-15.3% per year).

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per ton, surging by 21% against the previous year. Over the period under review, the import price, however, recorded a noticeable decline. The pace of growth appeared the most rapid in 2019 an increase of 45%. The level of import 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 importing countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+46.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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