U.S.: Silver Nitrate Market 2024

Silver Nitrate Market Size in the U.S.

The U.S. silver nitrate market reduced markedly to $X in 2022, dropping by X% against the previous year. In general, consumption continues to indicate a precipitous decrease. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Silver Nitrate Production in the U.S.

In value terms, silver nitrate production rose markedly to $X in 2022. Overall, production posted a tangible expansion. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Silver Nitrate Exports

Exports from the U.S.

For the fourth year in a row, the United States recorded growth in shipments abroad of silver nitrate, which increased by X% to X tons in 2022. Over the period under review, exports recorded a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, silver nitrate exports declined to $X in 2022. In general, exports continue to indicate a resilient expansion. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then contracted in the following year.

Exports by Country

Canada (X tons) was the main destination for silver nitrate exports from the United States, accounting for a X% share of total exports. Moreover, silver nitrate exports to Canada exceeded the volume sent to the second major destination, Singapore (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume to Canada totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and Mexico (X% per year).

In value terms, the largest markets for silver nitrate exported from the United States were Singapore ($X), Canada ($X) and Mexico ($X), with a combined X% share of total exports.

In terms of the main countries of destination, Singapore, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average silver nitrate export price amounted to $X per ton, dropping by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then reduced markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Canada ($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 Singapore (X%), while the prices for the other major destinations experienced mixed trend patterns.

Silver Nitrate Imports

Imports into the U.S.

In 2022, purchases abroad of silver nitrate was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Overall, imports showed prominent growth. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, silver nitrate imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a perceptible downturn. The growth pace was the most rapid in 2016 with an increase of X%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the UK (X tons) constituted the largest silver nitrate supplier to the United States, with a X% share of total imports. Moreover, silver nitrate imports from the UK exceeded the figures recorded by the second-largest supplier, Canada (X kg), sixfold. The third position in this ranking was taken by Poland (X kg), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the UK amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (X% per year) and Poland (X% per year).

In value terms, the largest silver nitrate suppliers to the United States were the UK ($X), Canada ($X) and South Korea ($X), with a combined X% share of total imports. Poland, Germany and Belgium lagged somewhat behind, together comprising a further X%.

Poland, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The average silver nitrate import price stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the import price showed a abrupt slump. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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