Italy: Semi-Manufactured Silver Market 2024

Semi-Manufactured Silver Market Size in Italy

In 2021, the Italian semi-manufactured silver market increased by 2.8% to $X, rising for the fifth consecutive year after three years of decline. Overall, the total consumption indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +99.4% against 2016 indices. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in years to come.

Semi-Manufactured Silver Production in Italy

In value terms, semi-manufactured silver production soared to $X in 2021 estimated in export price. Over the period under review, production, however, recorded strong growth. The pace of growth was the most pronounced in 2020 when the production volume increased by 106%. Semi-manufactured silver production peaked in 2021 and is likely to continue growth in the near future.

Semi-Manufactured Silver Exports

Exports from Italy

In 2021, overseas shipments of silver in semi-manufactured forms increased by 10% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 22%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, semi-manufactured silver exports surged to $X in 2021. In general, total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +95.1% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 53% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Spain (X tons) was the main destination for semi-manufactured silver exports from Italy, with a 31% share of total exports. Moreover, semi-manufactured silver exports to Spain exceeded the volume sent to the second major destination, Germany (X tons), threefold. France (X tons) ranked third in terms of total exports with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain amounted to +13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-3.8% per year) and France (-1.8% per year).

In value terms, Spain ($X) remains the key foreign market for silver in semi-manufactured forms exports from Italy, comprising 45% of total exports. The second position in the ranking was held by Germany ($X), with a 9.8% share of total exports. It was followed by Israel, with a 9.7% share.

From 2012 to 2021, the average annual growth rate of value to Spain stood at +18.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-1.3% per year) and Israel (+9.6% per year).

Export Prices by Country

The average semi-manufactured silver export price stood at $X per ton in 2021, increasing by 16% against the previous year. Overall, export price indicated a notable increase 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, semi-manufactured silver export price increased by +71.9% against 2018 indices. The most prominent rate of growth was recorded in 2020 an increase of 48% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Israel ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Semi-Manufactured Silver Imports

Imports into Italy

In 2021, purchases abroad of silver in semi-manufactured forms was finally on the rise to reach X tons after two years of decline. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 13%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, semi-manufactured silver imports soared to $X in 2021. In general, imports, however, saw a slight descent. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Turkey (X tons), Germany (X tons) and Spain (X tons) were the main suppliers of semi-manufactured silver imports to Italy, with a combined 60% share of total imports. These countries were followed by France, China, Israel and Romania, which together accounted for a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Israel (with a CAGR of +63.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of silver in semi-manufactured forms to Italy, comprising 34% of total imports. The second position in the ranking was held by Spain ($X), with a 16% share of total imports. It was followed by France, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to -7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+10.9% per year) and France (+5.5% per year).

Import Prices by Country

The average semi-manufactured silver import price stood at $X per ton in 2021, surging by 24% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 32% against the previous year. The import price 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 supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($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 (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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