World - Silver Including Silver Plated With Gold Or Platinum - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Mar 1, 2024

World - Silver Including Silver Plated With Gold Or Platinum - Market Analysis, Forecast, Size, Trends and Insights

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Silver Market

Silver market: discover new information empowered by an Ai-driven market research platform. Facts and figures cover trade, companies, consumption, production, exports, market size, market prices, and imports. Here is a split by region, including the U.K., China, EU, Africa, the U.S., the Middle East, Latin America, and Russia. Market trends and outlook to 2030 are also featured in the snapshots.


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Silver - World's Largest Markets

RatingCountry
1China
2United States
3India
4Germany
5Canada

In value terms, the largest silver markets worldwide were China, the United States and India, with a combined 30% share of the global market. Germany, Canada, Indonesia, Japan, Pakistan, Russia, the UK, Italy, Mexico and South Korea lagged somewhat behind, together comprising a further 30%.

In terms of the main consuming countries, Canada (+77.6% per year) recorded the highest growth rate of market size, over the period under review, while silver market for the other global leaders experienced more modest paces of growth.

Silver Prices

Lowest Prices - FOB - Top Exporters

COUNTRY201820192020CAGR,
2018-2020
USD per ton
Japan252964247768228733-4.9%
China509106522514345216-17.7%
Italy25868327012637658220.7%
Switzerland503136528007429754-7.6%
South Korea4503124815674964565.0%
Hong Kong SAR4749584806855561478.2%
Germany44344646430457900914.3%
Kazakhstan5005554445655938218.9%
Canada47607447892860274012.5%
Poland49883352033663958013.2%
United Kingdom49507749491566608016.0%
Mexico53366959906768619513.4%
United States56359457398072537413.4%
Average4537294641435007225.1%

There were significant differences in the average prices amongst the major exporting countries. In 2020, the country with the highest price was the United States ($725,374 per ton), while Japan ($228,733 per ton) was amongst the lowest.

From 2018 to 2020, the most notable rate of growth in terms of prices was attained by Italy, while the other global leaders experienced more modest paces of growth.

Highest Prices - CIF - Top Importers

COUNTRY201820192020CAGR,
2018-2020
USD per ton
Canada53176553544375515219.2%
United States53024053165766212111.7%
Switzerland5568675425686608628.9%
United Kingdom46830950487265701318.4%
Australia5323904629245567522.3%
Hong Kong SAR36629542571654850822.4%
India5048724917005379413.2%
Japan4630524476345294966.9%
Germany4124153961534675386.5%
Taiwan (Chinese)4013612804934508746.0%
Thailand3743353332534185005.7%
China31142332871738707211.5%
Singapore460529459042377045-9.5%
Average44085243707955227711.9%

Prices varied noticeably by the country of destination; the country with the highest price was Canada ($755,152 per ton), while Singapore ($377,045 per ton) was amongst the lowest.

From 2018 to 2020, the most notable rate of growth in terms of prices was attained by Hong Kong SAR, while the other global leaders experienced more modest paces of growth.

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Silver - Top Importers

COUNTRY201820192020CAGR,
2018-2020
billion USD
United States3.33.25.933.0%
United Kingdom22.12.716.2%
Canada0.40.62.5145.9%
Switzerland0.30.61.8144.2%
China1.21.11.47.9%

In value terms, the United States ($5.9B) constitutes the largest market for imported silver including silver plated with gold or platinum worldwide, comprising 25% of global imports. The second position in the ranking was occupied by the UK ($2.7B), with a 12% share of global imports. It was followed by Canada, with a 11% share.

From 2018 to 2020, the average annual growth rate of value in the United States amounted to +33.0%. The remaining importing countries recorded the following average annual rates of imports growth: the UK (+16.2% per year) and Canada (+145.9% per year).

Silver - Top Exporters

COUNTRY201820192020CAGR,
2018-2020
billion USD
United Kingdom1.41.23.861.0%
China1.21.42.540.7%
Mexico1.722.213.6%
United States1.311.921.0%
Germany0.91.11.734.0%

In value terms, the UK ($3.8B), China ($2.5B) and Mexico ($2.2B) appeared to be the countries with the highest levels of exports in 2020, together accounting for 35% of global exports.

Among the main exporting countries, the UK (+61.0% per year) recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Silver - Market Forecast

Driven by increasing demand for silver worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of for the period from 2020 to 2030, which is projected to bring the market volume to by the end of 2030.

Silver - Top Companies

Dalian Sunny Titanium Industry Co., Ltd., Jiangxi Copper Company Limited, SORTAG AG Entsorgungscenter Bigenthal, Sortag Zürich AG, JOHNSON MATTHEY PLC, MITSUBISHI MATERIALS CORPORATION, Zijin Mining Group Co., Ltd., Aurubis AG, Tongling Nonferrous Metals Group Co., Ltd., Shandong Gold Group Co., Ltd., Hangzhou Zhengcai Holding Group Co., Ltd., GMK NORILSKI NIKEL, PAO, COPPER REFINERIES PTY. LTD., Yunnan Copper Co., Ltd., SUMITOMO METAL MINING CO., LTD., Baiyin Nonferrous Group Co., Ltd., LS-Nikko Copper Inc., GOLD CORPORATION, Korea Zinc Company, Ltd., Axpo Kompogas AG

Silver - Product Coverage

  • HS 7106 - Silver (including silver plated with gold or platinum); unwrought or in semi-manufactured forms, or in powder form

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global silver market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 24411030 - Silver, unwrought or in powder form (including plated with gold or platinum)
  • Prodcom 24411050 - Silver, in semi-manufactured forms (including plated with gold or platinum) (excluding unwrought or in powder form)

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030
  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT
  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES
  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS
  7. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY
  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY
  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam
  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023
  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023
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Free Data: Silver Including Silver Plated With Gold Or Platinum - World