Northern America: Unwrought Silver Market 2024

Unwrought Silver Market Size in Northern America

In 2021, the North American unwrought silver market increased by 16% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption saw a remarkable increase. The level of consumption peaked in 2021 and is expected to retain growth in years to come.

Unwrought Silver Production in Northern America

In value terms, unwrought silver production dropped to $X in 2021 estimated in export price. Overall, production, however, recorded a abrupt slump. The pace of growth was the most pronounced in 2020 when the production volume increased by 24%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Unwrought Silver Exports

Exports in Northern America

In 2021, approx. X tons of silver, unwrought or in powder form were exported in Northern America; remaining stable against the previous year's figure. Overall, exports recorded a noticeable decline. The most prominent rate of growth was recorded in 2015 when exports increased by 30% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, unwrought silver exports surged to $X in 2021. Over the period under review, exports showed a perceptible downturn. The most prominent rate of growth was recorded in 2020 with an increase of 56%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States was the main exporter of silver, unwrought or in powder form in Northern America, with the volume of exports recording X tons, which was near 71% of total exports in 2021. It was distantly followed by Canada (X tons), generating a 29% share of total exports.

The United States experienced a relatively flat trend pattern with regard to volume of exports of silver, unwrought or in powder form. Canada (-7.8%) illustrated a downward trend over the same period. The United States (+19 p.p.) significantly strengthened its position in terms of the total exports, while Canada saw its share reduced by -18.8% from 2012 to 2021, respectively.

In value terms, the United States ($X) remains the largest unwrought silver supplier in Northern America, comprising 73% of total exports. The second position in the ranking was held by Canada ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States was relatively modest.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, increasing by 24% against the previous year. In general, the export price, however, showed a slight descent. The most prominent rate of growth was recorded in 2020 an increase of 31% 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 stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-1.0%).

Unwrought Silver Imports

Imports in Northern America

In 2021, supplies from abroad of silver, unwrought or in powder form increased by 3.6% to X tons, rising for the second year in a row after three years of decline. Total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +5.1% 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 +63.6% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 58%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, unwrought silver imports soared to $X in 2021. Over the period under review, imports showed a temperate increase. The growth pace was the most rapid in 2020 with an increase of 106%. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, the United States (X tons) represented the main importer of silver, unwrought or in powder form, making up 66% of total imports. It was distantly followed by Canada (X tons), constituting a 34% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Canada (with a CAGR of +16.9%).

In value terms, the United States ($X) and Canada ($X) appeared to be the countries with the highest levels of imports in 2021.

Canada, with a CAGR of +14.4%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2021, picking up by 18% against the previous year. Over the period under review, the import price, however, showed a perceptible descent. The pace of growth was the most pronounced in 2020 an increase of 30%. The level of import peaked 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 (-2.2%).

Source: IndexBox Platform

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