United Kingdom: Silver Nitrate Market 2024

Silver Nitrate Market Size in the UK

In 2021, the UK silver nitrate market decreased by -85.4% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption faced a sharp decrease. Silver nitrate consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Silver Nitrate Production in the UK

In value terms, silver nitrate production expanded significantly to $X in 2021 estimated in export price. Overall, production, however, saw a sharp curtailment. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Silver Nitrate Exports

Exports from the UK

In 2021, overseas shipments of silver nitrate increased by 38% to X tons, rising for the second consecutive year after three years of decline. Overall, exports recorded a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, silver nitrate exports skyrocketed to $X in 2021. In general, exports posted a noticeable expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The Netherlands (X tons) was the main destination for silver nitrate exports from the UK, accounting for a 66% share of total exports. Moreover, silver nitrate exports to the Netherlands exceeded the volume sent to the second major destination, Germany (X tons), sixfold. France (X tons) ranked third in terms of total exports with a 9.7% share.

From 2012 to 2021, the average annual growth rate of volume to the Netherlands totaled +56.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-8.1% per year) and France (-15.5% per year).

In value terms, the Netherlands ($X) emerged as the key foreign market for silver nitrate exports from the UK, comprising 74% of total exports. The second position in the ranking was taken by France ($X), with an 8.5% share of total exports. It was followed by Germany, with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Netherlands totaled +92.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-13.2% per year) and Germany (-13.5% per year).

Export Prices by Country

The average silver nitrate export price stood at $X per ton in 2021, jumping by 35% against the previous year. Over the period under review, export price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, silver nitrate export price increased by +67.0% against 2018 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Thailand ($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 Turkey (+26.1%), while the prices for the other major destinations experienced more modest paces of growth.

Silver Nitrate Imports

Imports into the UK

In 2021, silver nitrate imports into the UK skyrocketed to X tons, with an increase of 152% on the year before. In general, imports, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 339% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, silver nitrate imports surged to $X in 2021. Overall, imports, however, saw a deep slump. The pace of growth appeared the most rapid in 2018 with an increase of 108% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Belgium (X tons) constituted the largest supplier of silver nitrate to the UK, with a 58% share of total imports. Moreover, silver nitrate imports from Belgium exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Ireland (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 Belgium totaled +26.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-22.1% per year) and Ireland (+16.3% per year).

In value terms, Belgium ($X) constituted the largest supplier of silver nitrate to the UK, comprising 60% of total imports. The second position in the ranking was held by Germany ($X), with a 24% share of total imports. It was followed by the United States, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Belgium stood at +14.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-21.5% per year) and the United States (+20.9% per year).

Import Prices by Country

The average silver nitrate import price stood at $X per ton in 2021, shrinking by -52.8% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 100% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 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 United States ($X per ton), while the price for Ireland ($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 (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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