Middle East: Silver Nitrate Market 2024

Silver Nitrate Market Size in the Middle East

In 2022, the Middle Eastern silver nitrate market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, saw a notable increase. As a result, consumption reached the peak level of $X, and then declined notably in the following year.

Silver Nitrate Production in the Middle East

In value terms, silver nitrate production expanded markedly to $X in 2022 estimated in export price. In general, production recorded a significant expansion. The pace of growth appeared the most rapid in 2015 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Silver Nitrate Exports

Exports in the Middle East

After two years of growth, overseas shipments of silver nitrate decreased by X% to X kg in 2022. Over the period under review, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then contracted notably in the following year.

In value terms, silver nitrate exports fell rapidly to $X in 2022. In general, exports showed a dramatic curtailment. The pace of growth appeared the most rapid in 2018 with an increase of X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey represented the main exporter of silver nitrate in the Middle East, with the volume of exports resulting at X kg, which was near X% of total exports in 2022. It was distantly followed by Yemen (X kg) and the United Arab Emirates (X kg), together generating a X% share of total exports. Bahrain (X kg) held a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Yemen (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Turkey ($X) remains the largest silver nitrate supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Bahrain, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Bahrain (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, reducing by X% against the previous year. In general, the export price recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2018 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Silver Nitrate Imports

Imports in the Middle East

In 2022, after three years of growth, there was significant decline in overseas purchases of silver nitrate, when their volume decreased by X% to X tons. Over the period under review, imports showed a abrupt curtailment. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, silver nitrate imports fell rapidly to $X in 2022. In general, imports showed a abrupt slump. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Kuwait (X tons), Turkey (X tons) and the United Arab Emirates (X tons) was the key importer of silver nitrate in the Middle East, comprising X% of total import. It was distantly followed by Israel (X kg), comprising a X% share of total imports. Lebanon (X kg) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Israel ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Kuwait and Lebanon lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Lebanon, with a CAGR of X%, recorded the highest growth rate of 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

The import price in the Middle East stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the import price recorded a pronounced reduction. The most prominent rate of growth was recorded in 2015 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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