Turkey: Silver Nitrate Market 2024

Silver Nitrate Market Size in Turkey

The Turkish silver nitrate market contracted markedly to $X in 2022, with a decrease of X% against the previous year. Overall, consumption continues to indicate a abrupt shrinkage. Silver nitrate consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Silver Nitrate Production in Turkey

In value terms, silver nitrate production stood at $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with a decrease of X% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Silver Nitrate Exports

Exports from Turkey

In 2022, shipments abroad of silver nitrate decreased by X% to X kg for the first time since 2019, thus ending a two-year rising trend. In general, exports saw a abrupt setback. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons, and then fell dramatically in the following year.

In value terms, silver nitrate exports plummeted to $X in 2022. Over the period under review, exports recorded a significant curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Liberia (X kg), Iran (X kg) and Cyprus (X kg) were the main destinations of silver nitrate exports from Turkey, together accounting for X% of total exports.

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

In value terms, Iran ($X) emerged as the key foreign market for silver nitrate exports from Turkey, comprising X% of total exports. The second position in the ranking was held by Cyprus ($X), with an X% share of total exports. It was followed by Liberia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Iran stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (X% per year) and Liberia (X% per year).

Export Prices by Country

In 2022, the average silver nitrate export price amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price continues to indicate a precipitous shrinkage. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Iran ($X per ton), while the average price for exports to Liberia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Albania (X%), while the prices for the other major destinations experienced mixed trend patterns.

Silver Nitrate Imports

Imports into Turkey

In 2022, overseas purchases of silver nitrate decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, imports saw a deep contraction. The pace of growth was the most pronounced in 2016 with an increase of X%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, silver nitrate imports shrank remarkably to $X in 2022. Over the period under review, imports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Germany (X tons), Belgium (X kg) and North Macedonia (X kg) were the main suppliers of silver nitrate imports to Turkey, together accounting for X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest silver nitrate suppliers to Turkey were North Macedonia ($X), Germany ($X) and the UK ($X), with a combined X% share of total imports. Belgium, Italy, France, Spain and India lagged somewhat behind, together comprising a further X%.

Belgium, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average silver nitrate import price amounted to $X per ton, dropping by X% against the previous year. In general, the import price saw a slight setback. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then fell notably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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