Global Silver Market 2022

Silver Market Size

The global silver market was estimated at $X in 2021, rising by X% against the previous year. Overall, consumption showed a slight decline. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the global market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Silver Production

In value terms, silver production fell modestly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a slight descent. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, global production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Silver Exports

Exports

Global silver exports surged to X tons in 2021, growing by X% on the previous year's figure. Over the period under review, total exports indicated measured growth from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +X% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, the global exports reached the maximum in 2021 and are likely to see steady growth in years to come.

In value terms, silver exports surged to $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons), Hong Kong SAR (X tons) and Japan (X tons) represented roughly X% of total exports in 2021. It was distantly followed by the UK (X tons), Mexico (X tons), the United States (X tons) and South Korea (X tons), together comprising a X% share of total exports. Germany (X tons), Switzerland (X tons), Taiwan (Chinese) (X tons), Poland (X tons), Thailand (X tons) and Italy (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Thailand (with a CAGR of +X%), while the other global leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), China ($X) and the UK ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for X% of global exports. These countries were followed by the United States, Mexico, Japan, Switzerland, Germany, South Korea, Taiwan (Chinese), Poland, Italy and Thailand, which together accounted for a further X terms of the main exporting countries, Thailand, with a CAGR of +X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average silver export price amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price, however, showed a pronounced downturn. The global export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was the United States ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+X%), while the other global leaders experienced more modest paces of growth.

Silver Imports

Imports

In 2021, approx. X tons of silver including silver plated with gold or platinum were imported worldwide; picking up by X% on the previous year's figure. The total import volume increased at an average annual rate of +X% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, silver imports skyrocketed to $X in 2021. Overall, imports saw a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X tons) and the UK (X tons) represented roughly X% of total imports in 2021. Hong Kong SAR (X tons) ranks next in terms of the total imports with an X% share, followed by Canada (X%), China (X%), Japan (X%) and India (X%). Germany (X tons), Taiwan (Chinese) (X tons), Switzerland (X tons), Singapore (X tons), Thailand (X tons) and Spain (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Canada (with a CAGR of +X%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($X), the UK ($X) and Canada ($X) constituted the countries with the highest levels of imports in 2021, together comprising X% of global imports. These countries were followed by Hong Kong SAR, India, Japan, China, Switzerland, Germany, Taiwan (Chinese), Thailand, Singapore and Spain, which together accounted for a further X, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average silver import price stood at $X per ton in 2021, rising by X% against the previous year. In general, the import price, however, saw a slight downturn. The pace of growth was the most pronounced in 2020 an increase of X%. Global import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Switzerland ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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