Europe: Silver Ore Market 2024

Silver Ore Market Size in Europe

The Europe silver ore market declined to $X in 2021, shrinking by -6.4% against the previous year. In general, consumption, however, enjoyed a strong expansion. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Silver Ore Production in Europe

In value terms, silver ore production totaled $X in 2021 estimated in export price. The total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -11.5% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 62%. The level of production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Silver Ore Exports

Exports in Europe

Silver ore exports surged to X tons in 2021, jumping by 41% against the previous year. In general, exports saw temperate growth. The most prominent rate of growth was recorded in 2019 with an increase of 80%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, silver ore exports surged to $X in 2021. Overall, exports posted a strong increase. The pace of growth appeared the most rapid in 2019 with an increase of 113%. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

The Netherlands represented the key exporting country with an export of about X tons, which finished at 63% of total exports. Russia (X tons) took the second position in the ranking, distantly followed by Belgium (X tons). All these countries together held approx. 30% share of total exports. The following exporters - Finland (X tons) and Germany (X tons) - together made up 7% of total exports.

The Netherlands was also the fastest-growing in terms of the silver ores and concentrates exports, with a CAGR of +288.6% from 2012 to 2021. At the same time, Belgium (+55.7%), Germany (+16.4%) and Finland (+15.1%) displayed positive paces of growth. By contrast, Russia (-11.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Netherlands, Belgium, Finland and Germany increased by +63, +8.6, +4 and +1.9 percentage points, respectively.

In value terms, the Netherlands ($X) remains the largest silver ore supplier in Europe, comprising 54% of total exports. The second position in the ranking was taken by Russia ($X), with a 20% share of total exports. It was followed by Belgium, with an 11% share.

In the Netherlands, silver ore exports expanded at an average annual rate of +112.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Russia (-8.0% per year) and Belgium (+50.3% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2021, picking up by 3.5% against the previous year. Export price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, silver ore export price decreased by -11.6% against 2019 indices. The pace of growth was the most pronounced in 2015 when the export price increased by 61%. Over the period under review, the export prices reached the maximum at $X per ton in 2016; however, from 2017 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, the country with the highest price was Finland ($X per ton), while Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+18.3%), while the other leaders experienced mixed trends in the export price figures.

Silver Ore Imports

Imports in Europe

Silver ore imports reached X tons in 2021, with an increase of 4.9% on the previous year's figure. In general, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2016 when imports increased by 112% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, silver ore imports expanded notably to $X in 2021. Overall, imports showed a prominent expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 104%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the Netherlands (X tons) and Germany (X tons) were the main importers of silver ores and concentrates in Europe, together creating 70% of total imports. Bulgaria (X tons) took the next position in the ranking, distantly followed by Spain (X tons). All these countries together held near 25% share of total imports. Sweden (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in the Netherlands (with a CAGR of +298.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and Bulgaria ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 83% share of total imports.

The Netherlands, with a CAGR of +500.3%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Europe stood at $X per ton in 2021, rising by 6.5% against the previous year. In general, the import price, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2019 an increase of 24% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Sweden ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+57.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform