Global Mercury Market 2024

Mercury Market Size

After six years of growth, the global mercury market decreased by -0.1% to $X in 2021. In general, the total consumption indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.1% 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 +56.5% against 2014 indices. Global consumption peaked at $X in 2020, and then dropped slightly in the following year.

Mercury Production

In value terms, mercury production reduced modestly to $X in 2021 estimated in export price. Overall, the total production indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +56.3% against 2016 indices. The growth pace was the most rapid in 2018 when the production volume increased by 19% against the previous year. Global production peaked at $X in 2020, and then contracted in the following year.

Mercury Exports

Exports

After two years of decline, overseas shipments of mercuries increased by 151% to X tons in 2021. Overall, exports, however, showed a slight slump. The global exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, mercury exports rose notably to $X in 2021. Over the period under review, exports, however, showed a drastic downturn. The pace of growth appeared the most rapid in 2013 with an increase of 67%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the global exports remained at a lower figure.

Exports by Country

Nigeria represented the major exporter of mercuries in the world, with the volume of exports amounting to X tons, which was near 57% of total exports in 2021. It was distantly followed by Tajikistan (X tons) and Indonesia (X tons), together achieving a 26% share of total exports. Russia (X tons), the Czech Republic (X tons), the United Arab Emirates (X tons) and Vietnam (X tons) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the mercuries exports, with a CAGR of +878.4% from 2012 to 2021. At the same time, the Czech Republic (+89.1%), Indonesia (+56.3%), Tajikistan (+25.6%), Vietnam (+15.6%), the United Arab Emirates (+4.9%) and Russia (+4.5%) displayed positive paces of growth. While the share of Nigeria (+57 p.p.), Tajikistan (+14 p.p.), Indonesia (+9.2 p.p.) and the Czech Republic (+3.1 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Tajikistan ($X) remains the largest mercury supplier worldwide, comprising 37% of global exports. The second position in the ranking was taken by Nigeria ($X), with a 13% share of global exports. It was followed by Vietnam, with an 8% share.

In Tajikistan, mercury exports increased at an average annual rate of +25.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (+4,266.9% per year) and Vietnam (+23.3% per year).

Export Prices by Country

In 2021, the average mercury export price amounted to $X per ton, with a decrease of -54.7% against the previous year. In general, the export price saw a abrupt decrease. The growth pace was the most rapid in 2015 when the average export price increased by 41%. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 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 Vietnam ($X per ton), while the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+346.6%), while the other global leaders experienced more modest paces of growth.

Mercury Imports

Imports

In 2021, supplies from abroad of mercuries was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, saw a perceptible downturn. Over the period under review, global imports attained the maximum at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, mercury imports soared to $X in 2021. Overall, imports, however, continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2018 when imports increased by 39% against the previous year. Over the period under review, global imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates was the key importing country with an import of around X tons, which finished at 26% of total imports. India (X tons) held the second position in the ranking, followed by Tajikistan (X tons), Colombia (X tons), South Africa (X tons), Togo (X tons), Bolivia (X tons) and Vietnam (X tons). All these countries together took near 58% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to mercury imports into the United Arab Emirates stood at +43.4%. At the same time, Tajikistan (+88.7%), Vietnam (+36.1%), Bolivia (+20.8%), Togo (+14.2%), South Africa (+12.0%) and Colombia (+1.0%) displayed positive paces of growth. Moreover, Tajikistan emerged as the fastest-growing importer imported in the world, with a CAGR of +88.7% from 2012-2021. India experienced a relatively flat trend pattern. From 2012 to 2021, the share of the United Arab Emirates, Tajikistan, South Africa, Bolivia, Togo, Vietnam, India and Colombia increased by +25, +9.9, +6.8, +6.6, +6.1, +4.7, +3.9 and +3.7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X), Colombia ($X) and India ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 51% share of global imports. These countries were followed by Bolivia, Tajikistan, South Africa, Vietnam and Togo, which together accounted for a further 31%.

Tajikistan, with a CAGR of +80.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average mercury import price amounted to $X per ton, which is down by -11% against the previous year. In general, the import price showed a noticeable reduction. The growth pace was the most rapid in 2018 when the average import price increased by 34% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Colombia ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bolivia (+5.2%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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