U.S.: Silver Nitrate Market 2024

Silver Nitrate Market Size in the U.S.

The U.S. silver nitrate market fell remarkably to $X in 2021, with a decrease of -78.1% against the previous year. In general, consumption faced a abrupt decrease. The pace of growth appeared the most rapid in 2018 with an increase of 9.1% against the previous year. Silver nitrate consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Silver Nitrate Production in the U.S.

In value terms, silver nitrate production shrank to $X in 2021. Over the period under review, the total production indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +2.9% 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 +37.5% against 2016 indices. The growth pace was the most rapid in 2020 when the production volume increased by 36%. As a result, production reached the peak level of $X, and then dropped in the following year.

Silver Nitrate Exports

Exports from the U.S.

Silver nitrate exports from the United States soared to X tons in 2021, picking up by 72% compared with the previous year's figure. Overall, exports showed a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

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

Exports by Country

Canada (X tons) was the main destination for silver nitrate exports from the United States, accounting for a 74% share of total exports. Moreover, silver nitrate exports to Canada exceeded the volume sent to the second major destination, Singapore (X tons), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Canada totaled +14.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+49.5% per year) and Mexico (+5.7% per year).

In value terms, Singapore ($X) remains the key foreign market for silver nitrate exports from the United States, comprising 54% of total exports. The second position in the ranking was held by Canada ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Singapore stood at +64.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+8.1% per year) and Mexico (+7.6% per year).

Export Prices by Country

The average silver nitrate export price stood at $X per ton in 2021, rising by 18% against the previous year. In general, export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 an increase of 41% against the previous year. Over the period under review, the average export prices attained the maximum 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 Singapore ($X per ton), while the average price for exports to Canada ($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 Singapore (+10.1%), while the prices for the other major destinations experienced mixed trend patterns.

Silver Nitrate Imports

Imports into the U.S.

In 2021, overseas purchases of silver nitrate decreased by -22.8% to X tons, falling for the fourth consecutive year after six years of growth. Overall, imports showed a mild descent. The pace of growth appeared the most rapid in 2016 when imports increased by 38% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, silver nitrate imports rose remarkably to $X in 2021. Over the period under review, imports showed a abrupt slump. The growth pace was the most rapid in 2016 with an increase of 107% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the UK (X kg) constituted the largest supplier of silver nitrate to the United States, with a 59% share of total imports. Moreover, silver nitrate imports from the UK exceeded the figures recorded by the second-largest supplier, Canada (X kg), fivefold. The third position in this ranking was held by France (X kg), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from the UK amounted to -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-0.1% per year) and France (0.0% per year).

In value terms, the UK ($X), Canada ($X) and South Korea ($X) appeared to be the largest silver nitrate suppliers to the United States, with a combined 95% share of total imports.

In terms of the main suppliers, South Korea, with a CAGR of +87.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average silver nitrate import price amounted to $X per ton, increasing by 47% against the previous year. In general, the import price, however, continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2016 an increase of 50% against the previous year. The import price peaked 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 South Korea ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :