Japan: Semi-Manufactured Silver Market 2024

Semi-Manufactured Silver Market Size in Japan

The Japanese semi-manufactured silver market declined markedly to $X in 2021, waning by -75.9% against the previous year. Over the period under review, consumption faced a abrupt downturn. As a result, consumption attained the peak level of $X, and then contracted significantly in the following year.

Semi-Manufactured Silver Production in Japan

In value terms, semi-manufactured silver production contracted modestly to $X in 2021 estimated in export price. In general, production saw a noticeable descent. The most prominent rate of growth was recorded in 2016 when the production volume increased by 41% against the previous year. Semi-manufactured silver production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Semi-Manufactured Silver Exports

Exports from Japan

In 2021, after two years of decline, there was significant growth in shipments abroad of silver in semi-manufactured forms, when their volume increased by 26% to X tons. In general, exports, however, continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 56% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, semi-manufactured silver exports surged to $X in 2021. Over the period under review, exports showed a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Taiwan (Chinese) (X tons), China (X tons) and Hong Kong SAR (X tons) were the main destinations of semi-manufactured silver exports from Japan, with a combined 48% share of total exports. These countries were followed by Malaysia, Thailand, the Philippines, Vietnam, South Korea and Germany, which together accounted for a further 44%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +20.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for semi-manufactured silver exported from Japan were Taiwan (Chinese) ($X), China ($X) and Malaysia ($X), with a combined 56% share of total exports. South Korea, Thailand, Hong Kong SAR, Germany, Vietnam and the Philippines lagged somewhat behind, together accounting for a further 31%.

Vietnam, with a CAGR of +13.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average semi-manufactured silver export price amounted to $X per ton, surging by 24% against the previous year. In general, export price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine years. 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 +49.3% against 2019 indices. The growth pace was the most rapid in 2017 an increase of 61% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to the Philippines ($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 Hong Kong SAR (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Semi-Manufactured Silver Imports

Imports into Japan

In 2021, approx. X tons of silver in semi-manufactured forms were imported into Japan; which is down by -18.6% compared with 2020 figures. In general, imports showed a deep slump. The most prominent rate of growth was recorded in 2020 when imports increased by 32%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, semi-manufactured silver imports expanded sharply to $X in 2021. Over the period under review, imports recorded a perceptible setback. The growth pace was the most rapid in 2016 with an increase of 71%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Thailand (X tons) and the United States (X tons) were the main suppliers of semi-manufactured silver imports to Japan, with a combined 61% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +3.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest semi-manufactured silver suppliers to Japan were Germany ($X), the United States ($X) and the Philippines ($X), together accounting for 49% of total imports. China, South Korea, Thailand, Taiwan (Chinese) and the UK lagged somewhat behind, together comprising a further 35%.

The UK, with a CAGR of +6.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average semi-manufactured silver import price amounted to $X per ton, increasing by 33% against the previous year. Overall, import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, semi-manufactured silver import price increased by +58.1% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while the price for Thailand ($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 United States (+12.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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