Asia-Pacific: Semi-Manufactured Silver Market 2024

Semi-Manufactured Silver Market Size in Asia-Pacific

In 2023, after two years of growth, there was significant decline in the Asia-Pacific semi-manufactured silver market, when its value decreased by X% to $X. Overall, consumption, however, enjoyed a measured increase. As a result, consumption reached the peak level of $X, and then dropped rapidly in the following year.

Semi-Manufactured Silver Production in Asia-Pacific

In value terms, semi-manufactured silver production expanded rapidly to $X in 2023 estimated in export price. In general, production, however, showed a abrupt curtailment. The growth pace was the most rapid in 2021 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Semi-Manufactured Silver Exports

Exports in Asia-Pacific

In 2023, shipments abroad of silver in semi-manufactured forms decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, semi-manufactured silver exports expanded markedly to $X in 2023. Overall, exports showed a drastic downturn. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

Japan represented the largest exporter of silver in semi-manufactured forms in Asia-Pacific, with the volume of exports resulting at X tons, which was near X% of total exports in 2023. Taiwan (Chinese) (X tons) held an X% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (X%), India (X%), Hong Kong SAR (X%) and Singapore (X%). Australia (X tons) held a little share of total exports.

From 2012 to 2023, average annual rates of growth with regard to semi-manufactured silver exports from Japan stood at X%. At the same time, India (X%) and Singapore (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2023. South Korea experienced a relatively flat trend pattern. By contrast, Australia (X%), Hong Kong SAR (X%) and Taiwan (Chinese) (X%) illustrated a downward trend over the same period. While the share of Japan (X p.p.), India (X p.p.), South Korea (X p.p.), Singapore (X p.p.) and Australia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Hong Kong SAR (X p.p.) and Taiwan (Chinese) (X p.p.) displayed negative dynamics.

In value terms, the largest semi-manufactured silver supplying countries in Asia-Pacific were Taiwan (Chinese) ($X), Japan ($X) and India ($X), with a combined X% share of total exports.

Among the main exporting countries, India, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2023, the export price in Asia-Pacific amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price saw a slight increase. The pace of growth appeared the most rapid in 2020 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum in 2023 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced more modest paces of growth.

Semi-Manufactured Silver Imports

Imports in Asia-Pacific

After seven years of growth, supplies from abroad of silver in semi-manufactured forms decreased by X% to X tons in 2023. In general, imports, however, recorded a mild increase. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then reduced markedly in the following year.

In value terms, semi-manufactured silver imports shrank sharply to $X in 2023. Over the period under review, imports, however, continue to indicate a prominent expansion. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then reduced dramatically in the following year.

Imports by Country

India represented the main importer of silver in semi-manufactured forms in Asia-Pacific, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2023. Thailand (X tons) ranks second in terms of the total imports with an X% share, followed by Taiwan (Chinese) (X%), Japan (X%), China (X%), Hong Kong SAR (X%) and Australia (X%). Singapore (X tons) took a little share of total imports.

India was also the fastest-growing in terms of the silver in semi-manufactured forms imports, with a CAGR of X% from 2012 to 2023. Thailand and Taiwan (Chinese) experienced a relatively flat trend pattern. Singapore (X%), Australia (X%), Japan (X%), Hong Kong SAR (X%) and China (X%) illustrated a downward trend over the same period. While the share of India (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Thailand (X p.p.), Taiwan (Chinese) (X p.p.), Australia (X p.p.), Japan (X p.p.), Hong Kong SAR (X p.p.) and China (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported silver in semi-manufactured forms in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by Thailand ($X), with a X% share of total imports. It was followed by Australia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in India amounted to X%. In the other countries, the average annual rates were as follows: Thailand (X% per year) and Australia (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2023, falling by X% against the previous year. In general, the import price, however, enjoyed a notable expansion. The most prominent rate of growth was recorded in 2020 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2022, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Australia ($X,069 per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform