South Africa: Silver Nitrate Market 2024

Silver Nitrate Market Size in South Africa

The South African silver nitrate market soared to $X in 2023, picking up by X% against the previous year. Over the period under review, consumption, however, saw a noticeable shrinkage. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Silver Nitrate Production in South Africa

In value terms, silver nitrate production stood at $X in 2023 estimated in export price. In general, the total production indicated a modest increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Silver Nitrate Exports

Exports from South Africa

In 2023, approx. X tons of silver nitrate were exported from South Africa; waning by X% on 2022. Over the period under review, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then contracted remarkably in the following year.

In value terms, silver nitrate exports rose slightly to $X in 2023. In general, exports, however, saw a strong expansion. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Democratic Republic of the Congo (X tons), Ghana (X kg) and Zimbabwe (X kg) were the main destinations of silver nitrate exports from South Africa, with a combined X% share of total exports. Namibia, Mozambique and Botswana lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Namibia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for silver nitrate exported from South Africa were Zimbabwe ($X), Democratic Republic of the Congo ($X) and Ghana ($X), together comprising X% of total exports.

In terms of the main countries of destination, Democratic Republic of the Congo, with a CAGR of X%, saw the highest rates of growth with regard to 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 2023, the average silver nitrate export price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price, however, recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2023, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Zimbabwe ($X per ton), while the average price for exports to Ghana ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Silver Nitrate Imports

Imports into South Africa

In 2023, imports of silver nitrate into South Africa surged to X tons, increasing by X% compared with the year before. In general, imports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2023, the growth of imports remained at a lower figure.

In value terms, silver nitrate imports skyrocketed to $X in 2023. Over the period under review, imports showed a relatively flat trend pattern. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, the UK (X tons) constituted the largest silver nitrate supplier to South Africa, accounting for a X% share of total imports. Moreover, silver nitrate imports from the UK exceeded the figures recorded by the second-largest supplier, North Macedonia (X kg), sevenfold. The third position in this ranking was taken by the United States (X kg), with a X% share.

From 2012 to 2023, 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: North Macedonia (X% per year) and the United States (X% per year).

In value terms, the UK ($X) constituted the largest supplier of silver nitrate to South Africa, comprising X% of total imports. The second position in the ranking was taken by North Macedonia ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2023, the average annual growth rate of value from the UK amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: North Macedonia (X% per year) and the United States (X% per year).

Import Prices by Country

The average silver nitrate import price stood at $X per ton in 2023, surging by X% against the previous year. Over the period under review, the import price showed a resilient increase. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. The import price peaked in 2023 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by North Macedonia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform