Europe: Silver Market 2025

Silver Market Size in Europe

In 2021, the Europe silver market increased by 47% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, continues to indicate a slight reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Silver Production in Europe

In value terms, silver production expanded rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by 42%. The level of production peaked in 2021 and is likely to continue growth in years to come.

Silver Exports

Exports in Europe

In 2021, exports of silver including silver plated with gold or platinum in Europe amounted to X tons, with an increase of 1.7% on 2020 figures. The total export volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when exports increased by 35% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, silver exports skyrocketed to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 77%. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in years to come.

Exports by Country

In 2021, the UK (X tons), distantly followed by Germany (X tons), Switzerland (X tons), Poland (X tons), Italy (X tons), Russia (X tons), Belgium (X tons) and France (X tons) represented the key exporters of silver including silver plated with gold or platinum, together generating 90% of total exports.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +10.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Switzerland ($X) and Germany ($X) were the countries with the highest levels of exports in 2021, together comprising 65% of total exports.

Among the main exporting countries, the UK, with a CAGR of +11.2%, 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 Europe amounted to $X per ton, picking up by 21% against the previous year. In general, the export price, however, continues to indicate a slight contraction. The most prominent rate of growth was recorded in 2020 an increase of 31% against the previous year. Over the period under review, the export prices hit record highs 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 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 the UK (+0.3%), while the other leaders experienced a decline in the export price figures.

Silver Imports

Imports in Europe

In 2021, supplies from abroad of silver including silver plated with gold or platinum increased by 67% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports saw a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, silver imports skyrocketed to $X in 2021. In general, imports, however, showed a perceptible descent. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the UK (X tons) represented the key importer of silver including silver plated with gold or platinum, making up 45% of total imports. It was distantly followed by Germany (X tons), Switzerland (X tons), Spain (X tons), France (X tons) and Italy (X tons), together making up a 37% share of total imports. Denmark (X tons) took a minor share of total imports.

Imports into the UK decreased at an average annual rate of -1.0% from 2012 to 2021. At the same time, Spain (+11.2%), France (+7.0%), Germany (+5.8%), Italy (+4.6%) and Denmark (+1.8%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing importer imported in Europe, with a CAGR of +11.2% from 2012-2021. By contrast, Switzerland (-7.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Spain, Germany, France and Italy increased by +4.1, +3.5, +2.9 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the UK ($X) constitutes the largest market for imported silver including silver plated with gold or platinum in Europe, comprising 56% of total imports. The second position in the ranking was taken by Switzerland ($X), with a 12% share of total imports. It was followed by Germany, with a 9.8% share.

In the UK, silver imports decreased by an average annual rate of -3.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Switzerland (-7.4% per year) and Germany (+6.4% per year).

Import Prices by Country

In 2021, the import price in Europe amounted to $X per ton, growing by 22% against the previous year. Overall, the import price, however, showed a noticeable contraction. The most prominent rate of growth was recorded in 2020 when the import price increased by 24%. The level of import peaked 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 Switzerland ($X per ton), while Denmark ($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 (+4.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform