Italy: Silver Nitrate Market 2024

Silver Nitrate Market Size in Italy

The Italian silver nitrate market surged to $X in 2021, increasing by 198% against the previous year. Overall, consumption continues to indicate a significant increase. Silver nitrate consumption peaked in 2021 and is likely to continue growth in the immediate term.

Silver Nitrate Production in Italy

In value terms, silver nitrate production reached $X in 2021 estimated in export price. Over the period under review, production posted significant growth. The pace of growth appeared the most rapid in 2014 with an increase of 17%. Silver nitrate production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Silver Nitrate Exports

Exports from Italy

In 2021, after three years of growth, there was significant decline in overseas shipments of silver nitrate, when their volume decreased by -33.4% to X tons. In general, exports, however, recorded a resilient expansion. The growth pace was the most rapid in 2019 when exports increased by 41%. The exports peaked at X tons in 2020, and then dropped notably in the following year.

In value terms, silver nitrate exports declined to $X in 2021. Over the period under review, exports, however, saw strong growth. The pace of growth appeared the most rapid in 2016 with an increase of 47%. Over the period under review, the exports hit record highs at $X in 2020, and then fell in the following year.

Exports by Country

France (X tons) was the main destination for silver nitrate exports from Italy, accounting for a 75% share of total exports. Moreover, silver nitrate exports to France exceeded the volume sent to the second major destination, Bangladesh (X tons), sevenfold. The third position in this ranking was held by Algeria (X tons), with a 7.1% share.

From 2012 to 2021, the average annual growth rate of volume to France totaled +12.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+52.4% per year) and Algeria (+2,400.0% per year).

In value terms, France ($X) remains the key foreign market for silver nitrate exports from Italy, comprising 82% of total exports. The second position in the ranking was held by Bangladesh ($X), with a 6.7% share of total exports. It was followed by Switzerland, with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to France totaled +10.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+35.0% per year) and Switzerland (+101.0% per year).

Export Prices by Country

The average silver nitrate export price stood at $X per ton in 2021, picking up by 39% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Algeria ($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 Algeria (+4.9%), while the prices for the other major destinations experienced mixed trend patterns.

Silver Nitrate Imports

Imports into Italy

Silver nitrate imports into Italy soared to X tons in 2021, picking up by 45% on the previous year. In general, imports showed a prominent expansion. The pace of growth appeared the most rapid in 2016 with an increase of 123% against the previous year. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, silver nitrate imports surged to $X in 2021. Overall, imports recorded a resilient increase. The growth pace was the most rapid in 2016 when imports increased by 72%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Belgium (X tons) constituted the largest supplier of silver nitrate to Italy, with a 71% share of total imports. Moreover, silver nitrate imports from Belgium exceeded the figures recorded by the second-largest supplier, Germany (X tons), ninefold. The third position in this ranking was held by France (X tons), with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Belgium amounted to +87.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-11.6% per year) and France (-1.6% per year).

In value terms, the largest silver nitrate suppliers to Italy were Belgium ($X), Spain ($X) and the Czech Republic ($X), together accounting for 70% of total imports.

Among the main suppliers, the Czech Republic, with a CAGR of +303.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average silver nitrate import price stood at $X per ton in 2021, with an increase of 11% against the previous year. Over the period under review, the import price recorded a measured increase. The growth pace was the most rapid in 2019 when the average import price increased by 203%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Belgium ($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 (+38.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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