Spain: Semi-Manufactured Silver Market 2025

Semi-Manufactured Silver Market Size in Spain

The Spanish semi-manufactured silver market skyrocketed to $X in 2021, increasing by 124% against the previous year. Over the period under review, consumption enjoyed resilient growth. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Semi-Manufactured Silver Production in Spain

In value terms, semi-manufactured silver production skyrocketed to $X in 2021 estimated in export price. In general, production, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2015 with an increase of 963% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Semi-Manufactured Silver Exports

Exports from Spain

In 2021, shipments abroad of silver in semi-manufactured forms increased by 47% to X tons, rising for the second year in a row after three years of decline. Overall, exports showed a temperate increase. The pace of growth appeared the most rapid in 2016 when exports increased by 84%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, semi-manufactured silver exports skyrocketed to $X in 2021. In general, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2020 with an increase of 246%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in years to come.

Exports by Country

The UK (X tons) was the main destination for semi-manufactured silver exports from Spain, with a 59% share of total exports. Moreover, semi-manufactured silver exports to the UK exceeded the volume sent to the second major destination, France (X tons), ninefold. The third position in this ranking was held by Italy (X tons), with a 6.7% share.

From 2012 to 2021, the average annual growth rate of volume to the UK totaled +13.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-4.0% per year) and Italy (-3.6% per year).

In value terms, the UK ($X) remains the key foreign market for silver in semi-manufactured forms exports from Spain, comprising 79% of total exports. The second position in the ranking was taken by France ($X), with a 6.4% share of total exports. It was followed by the Netherlands, with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK stood at +22.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-0.3% per year) and the Netherlands (+11.0% per year).

Export Prices by Country

The average semi-manufactured silver export price stood at $X per ton in 2021, growing by 52% against the previous year. Overall, the export price recorded strong growth. The pace of growth appeared the most rapid in 2020 when the average export price increased by 107%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

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 the UK ($X per ton), while the average price for exports to Morocco ($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 Poland (+11.5%), while the prices for the other major destinations experienced more modest paces of growth.

Semi-Manufactured Silver Imports

Imports into Spain

In 2021, approx. X tons of silver in semi-manufactured forms were imported into Spain; surging by 123% against 2020. In general, imports posted buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, semi-manufactured silver imports soared to $X in 2021. Overall, imports posted a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Italy (X tons) constituted the largest semi-manufactured silver supplier to Spain, with a 74% share of total imports. Moreover, semi-manufactured silver imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X tons), sixfold. The UK (X tons) ranked third in terms of total imports with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy totaled +21.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-3.4% per year) and the UK (+35.0% per year).

In value terms, Italy ($X) constituted the largest supplier of silver in semi-manufactured forms to Spain, comprising 57% of total imports. The second position in the ranking was held by the UK ($X), with a 22% share of total imports. It was followed by Germany, with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy stood at +22.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+37.6% per year) and Germany (+1.7% per year).

Import Prices by Country

In 2021, the average semi-manufactured silver import price amounted to $X per ton, picking up by 7.9% against the previous year. In general, import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +5.8% 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 import price increased by +56.5% against 2019 indices. The pace of growth appeared the most rapid in 2013 an increase of 78% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

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 ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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