Kenya: Silver Nitrate Market 2024

Silver Nitrate Market Size in Kenya

The Kenyan silver nitrate market contracted notably to $X in 2021, with a decrease of -98.6% against the previous year. Overall, consumption continues to indicate a significant curtailment. Silver nitrate consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Silver Nitrate Production in Kenya

In value terms, silver nitrate production dropped to $X in 2021 estimated in export price. Over the period under review, the total production indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +44.3% against 2018 indices. The growth pace was the most rapid in 2019 with an increase of 29%. Over the period under review, production hit record highs at $X in 2020, and then declined in the following year.

Silver Nitrate Exports

Exports from Kenya

In 2021, the amount of silver nitrate exported from Kenya soared to X kg, picking up by 5,750% compared with the previous year. In general, exports saw a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, silver nitrate exports soared to $X in 2021. Overall, exports enjoyed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Ethiopia (X kg), Tanzania (X kg) and Uganda (X kg) were the main destinations of silver nitrate exports from Kenya, together comprising 97% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ethiopia (with a CAGR of +56.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for silver nitrate exported from Kenya were Ethiopia ($X), Tanzania ($X) and Uganda ($X), with a combined 99% share of total exports.

Tanzania, with a CAGR of +60.4%, 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 silver nitrate export price amounted to $X per ton, increasing by 5.4% against the previous year. In general, the export price enjoyed a remarkable increase. The pace of growth was the most pronounced in 2019 when the average export price increased by 81% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Uganda ($X per ton), while the average price for exports to Somalia ($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 Tanzania (+2.5%), while the prices for the other major destinations experienced mixed trend patterns.

Silver Nitrate Imports

Imports into Kenya

In 2021, approx. X kg of silver nitrate were imported into Kenya; declining by -77.1% on the previous year. Overall, imports recorded a sharp slump. The most prominent rate of growth was recorded in 2014 with an increase of 101% against the previous year. Imports peaked at X kg in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, silver nitrate imports contracted remarkably to $X in 2021. Over the period under review, imports recorded a precipitous curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by 102%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

India (X kg), the Netherlands (X kg) and Germany (X kg) were the main suppliers of silver nitrate imports to Kenya, together accounting for 84% of total imports. South Africa lagged somewhat behind, accounting for a further 11%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Africa (with a CAGR of -9.7%), while imports for the other leaders experienced a decline.

In value terms, the Netherlands ($X), India ($X) and Germany ($X) constituted the largest silver nitrate suppliers to Kenya, with a combined 54% share of total imports.

The Netherlands, with a CAGR of -11.3%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average silver nitrate import price amounted to $X per ton, surging by 42% against the previous year. Over the period under review, import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, silver nitrate import price increased by +61.7% 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 the UK ($X per ton), while the price for South Africa ($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 UK (+45.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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