Switzerland: Silver Nitrate Market 2024

Silver Nitrate Market Size in Switzerland

The Swiss silver nitrate market skyrocketed to $X in 2021, growing by 97% against the previous year. Overall, consumption, however, continues to indicate a abrupt setback. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Silver Nitrate Production in Switzerland

In value terms, silver nitrate production shrank markedly to $X in 2021 estimated in export price. In general, production recorded a dramatic curtailment. Silver nitrate production peaked at $X in 2020, and then fell remarkably in the following year.

Silver Nitrate Exports

Exports from Switzerland

In 2021, overseas shipments of silver nitrate decreased by -63.9% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when exports increased by 274%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, silver nitrate exports fell dramatically to $X in 2021. Overall, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of 106% against the previous year. The exports peaked at $X in 2020, and then declined rapidly in the following year.

Exports by Country

Germany (X tons) was the main destination for silver nitrate exports from Switzerland, accounting for a 57% share of total exports. Moreover, silver nitrate exports to Germany exceeded the volume sent to the second major destination, Israel (X kg), threefold. Romania (X kg) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany totaled -2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+6.3% per year) and Romania (+46.7% per year).

In value terms, Germany ($X) remains the key foreign market for silver nitrate exports from Switzerland, comprising 45% of total exports. The second position in the ranking was taken by Romania ($X), with a 21% share of total exports. It was followed by Israel, with a 16% share.

From 2012 to 2021, the average annual growth rate of value to Germany totaled +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+58.1% per year) and Israel (+4.3% per year).

Export Prices by Country

In 2021, the average silver nitrate export price amounted to $X per ton, increasing by 57% against the previous year. Over the period under review, the export price posted a prominent increase. The pace of growth was the most pronounced in 2020 when the average export price increased by 78%. Over the period under review, the average export prices hit record highs in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Germany ($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 the UK (+27.5%), while the prices for the other major destinations experienced more modest paces of growth.

Silver Nitrate Imports

Imports into Switzerland

In 2021, purchases abroad of silver nitrate increased by 167% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, saw a perceptible contraction. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, silver nitrate imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a deep setback. The pace of growth appeared the most rapid in 2017 when imports increased by 108%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the UK (X tons) constituted the largest silver nitrate supplier to Switzerland, accounting for a 68% share of total imports. Moreover, silver nitrate imports from the UK exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. Italy (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the UK stood at +31.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.8% per year) and Italy (+44.2% per year).

In value terms, the UK ($X) constituted the largest supplier of silver nitrate to Switzerland, comprising 65% of total imports. The second position in the ranking was held by Italy ($X), with a 27% share of total imports. It was followed by Germany, with a 6.7% share.

From 2012 to 2021, the average annual growth rate of value from the UK amounted to +20.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+68.1% per year) and Germany (+10.7% per year).

Import Prices by Country

In 2021, the average silver nitrate import price amounted to $X per ton, falling by -29.2% against the previous year. In general, the import price recorded a abrupt downturn. The pace of growth appeared the most rapid in 2020 when the average import price increased by 46% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a 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 Italy ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+16.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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