Northern America: Silver Market 2025

Silver Market Size in Northern America

For the fourth year in a row, the North American silver market recorded growth in sales value, which increased by 29% to $X in 2021. The total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +125.7% against 2015 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Silver Production in Northern America

In value terms, silver production expanded remarkably to $X in 2021 estimated in export price. In general, production, however, continues to indicate a pronounced shrinkage. The pace of growth appeared the most rapid in 2016 when the production volume increased by 40% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Silver Exports

Exports in Northern America

In 2021, the amount of silver including silver plated with gold or platinum exported in Northern America rose slightly to X tons, growing by 4.1% compared with the year before. In general, exports, however, showed a noticeable reduction. The growth pace was the most rapid in 2020 with an increase of 25%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, silver exports skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a noticeable decline. The pace of growth was the most pronounced in 2020 with an increase of 60% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, the United States (X tons) represented the main exporter of silver including silver plated with gold or platinum, achieving 75% of total exports. It was distantly followed by Canada (X tons), mixing up a 25% share of total exports.

The United States was also the fastest-growing in terms of the silver including silver plated with gold or platinum exports, with a CAGR of +1.7% from 2012 to 2021. Canada (-8.8%) illustrated a downward trend over the same period. While the share of the United States (+22 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Canada (-22.1 p.p.) displayed negative dynamics.

In value terms, the United States ($X) remains the largest silver supplier in Northern America, comprising 78% of total exports. The second position in the ranking was held by Canada ($X), with a 22% share of total exports.

In the United States, silver exports remained relatively stable over the period from 2012-2021.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, surging by 24% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 28% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-0.9%).

Silver Imports

Imports in Northern America

In 2021, supplies from abroad of silver including silver plated with gold or platinum increased by 4.9% to X tons, rising for the second consecutive year after three years of decline. Total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +80.6% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 72% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, silver imports surged to $X in 2021. Overall, imports saw a notable expansion. The growth pace was the most rapid in 2020 with an increase of 123%. The level of import peaked in 2021 and is likely to continue growth in years to come.

Imports by Country

The United States was the main importing country with an import of about X tons, which resulted at 65% of total imports. It was distantly followed by Canada (X tons), creating a 35% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Canada (with a CAGR of +14.7%).

In value terms, the largest silver importing markets in Northern America were the United States ($X) and Canada ($X).

In terms of the main importing countries, Canada, with a CAGR of +12.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2021, with an increase of 19% against the previous year. Over the period under review, the import price, however, showed a noticeable decline. The most prominent rate of growth was recorded in 2020 an increase of 30%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (-2.1%).

Source: IndexBox Platform

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