Europe: Semi-Manufactured Silver Market 2024

Semi-Manufactured Silver Market Size in Europe

The Europe semi-manufactured silver market surged to $X in 2021, jumping by 49% against the previous year. In general, consumption enjoyed a prominent expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Semi-Manufactured Silver Production in Europe

In value terms, semi-manufactured silver production soared to $X in 2021 estimated in export price. Overall, production recorded a resilient expansion. The pace of growth appeared the most rapid in 2020 with an increase of 58%. Over the period under review, production hit record highs in 2021 and is expected to retain growth in years to come.

Semi-Manufactured Silver Exports

Exports in Europe

For the third year in a row, Europe recorded growth in overseas shipments of silver in semi-manufactured forms, which increased by 13% to X tons in 2021. The total export volume increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 20% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, semi-manufactured silver exports surged to $X in 2021. In general, exports recorded a temperate expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 70% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in the near future.

Exports by Country

The shipments of the five major exporters of silver in semi-manufactured forms, namely Germany, Italy, the UK, Spain and France, represented more than two-thirds of total export.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by France (with a CAGR of +7.8%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the UK ($X) and Spain ($X) constituted the countries with the highest levels of exports in 2021, together comprising 72% of total exports.

In terms of the main exporting countries, the UK, with a CAGR of +14.2%, saw the highest growth rate of 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

In 2021, the export price in Europe amounted to $X per ton, growing by 19% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 42% against the previous year. Over the period under review, the export prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+7.7%), while the other leaders experienced more modest paces of growth.

Semi-Manufactured Silver Imports

Imports in Europe

Semi-manufactured silver imports skyrocketed to X tons in 2021, rising by 84% on the previous year's figure. Total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine years. 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, semi-manufactured silver imports skyrocketed to $X in 2021. Over the period under review, imports showed a tangible expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The UK (X tons) and Spain (X tons) represented the largest importers of silver in semi-manufactured forms in 2021, accounting for near 27% and 22% of total imports, respectively. France (X tons) ranks next in terms of the total imports with a 12% share, followed by Germany (7.8%). The following importers - Italy (X tons), Hungary (X tons), Belgium (X tons), the Czech Republic (X tons), Bulgaria (X tons), Austria (X tons), Poland (X tons), Russia (X tons) and Denmark (X tons) - together made up 24% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Bulgaria (with a CAGR of +35.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) constitutes the largest market for imported silver in semi-manufactured forms in Europe, comprising 53% of total imports. The second position in the ranking was held by Spain ($X), with a 10% share of total imports. It was followed by Germany, with a 5.6% share.

In the UK, semi-manufactured silver imports expanded at an average annual rate of +13.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Spain (+17.2% per year) and Germany (-3.5% per year).

Import Prices by Country

The import price in Europe stood at $X per ton in 2021, increasing by 24% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the import price increased by 34%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat 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 UK ($X per ton), while Hungary ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+18.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform