Japan: Silver Nitrate Market 2024

Silver Nitrate Market Size in Japan

In 2021, the Japanese silver nitrate market decreased by -25% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption, however, enjoyed a prominent expansion. Silver nitrate consumption peaked at $X in 2020, and then dropped sharply in the following year.

Silver Nitrate Production in Japan

In value terms, silver nitrate production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 29% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Silver Nitrate Exports

Exports from Japan

In 2021, overseas shipments of silver nitrate increased by 96% to X tons, rising for the second year in a row after three years of decline. In general, exports, however, saw a perceptible decline. The most prominent rate of growth was recorded in 2016 with an increase of 135% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, silver nitrate exports soared to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X tons) was the main destination for silver nitrate exports from Japan, with a 61% share of total exports. Moreover, silver nitrate exports to Thailand exceeded the volume sent to the second major destination, South Korea (X kg), twofold. China (X kg) ranked third in terms of total exports with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume to Thailand amounted to +93.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-1.8% per year) and China (+6.4% per year).

In value terms, the largest markets for silver nitrate exported from Japan were Thailand ($X), South Korea ($X) and China ($X), together accounting for 99% of total exports.

Thailand, with a CAGR of +132.2%, 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 mixed trend patterns.

Export Prices by Country

In 2021, the average silver nitrate export price amounted to $X per ton, increasing by 17% against the previous year. In general, export price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +4.9% 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 nitrate export price increased by +118.0% against 2016 indices. The pace of growth was the most pronounced in 2014 when the average export price increased by 37% against the previous year. The export price peaked in 2021 and is likely to continue growth in the near future.

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 South Korea ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Thailand (+19.9%), while the prices for the other major destinations experienced more modest paces of growth.

Silver Nitrate Imports

Imports into Japan

In 2021, approx. X kg of silver nitrate were imported into Japan; jumping by 390% on the previous year's figure. In general, imports recorded a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, silver nitrate imports soared to $X in 2021. Over the period under review, imports recorded a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X kg) was the main supplier of silver nitrate to Japan, accounting for a 96% share of total imports. Moreover, silver nitrate imports from Germany exceeded the figures recorded by the second-largest supplier, China (X kg), more than tenfold.

From 2013 to 2021, the average annual growth rate of volume from Germany totaled +65.1%.

In value terms, China ($X) and Germany ($X) appeared to be the largest silver nitrate suppliers to Japan.

China, with a CAGR of +109.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review.

Import Prices by Country

In 2021, the average silver nitrate import price amounted to $X per ton, with a decrease of -20% against the previous year. Overall, the import price recorded a abrupt decrease. The most prominent rate of growth was recorded in 2017 when the average import price increased by 5.3% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat 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 China ($X per ton), while the price for Germany amounted to $X per ton.

From 2013 to 2021, the most notable rate of growth in terms of prices was attained by China (+1,029.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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