Colloidal Precious Metals Market

The global market for colloidal precious metals, compounds, and amalgams, excluding silver nitrate, is expected to see continued growth with forecasted CAGR of +5.1% in volume terms and +6.8% in value terms from 2022 to 2030. China leads both in consumption and production of these precious metals, with India being the largest importer. Price trends show fluctuations over the years, with notable growth in some regions. Overall, the market is expected to see steady expansion in the near future.

Market Forecast

Driven by increasing demand for colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate) worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +5.1% for the period from 2022 to 2030, which is projected to bring the market volume to 82K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.8% for the period from 2022 to 2030, which is projected to bring the market value to $227.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Colloidal Precious Metals, Compounds And Amalgams Of Precious Metals (Excluding Silver Nitrate)

In 2022, consumption of colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate) increased by 2.8% to 55K tons, rising for the third consecutive year after two years of decline. The total consumption volume increased at an average annual rate of +3.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, global consumption hit record highs in 2022 and is likely to see gradual growth in the near future.

The global colloidal precious metals market revenue stood at $133.9B in 2022, with an increase of 2.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +5.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market hit record highs in 2022 and is expected to retain growth in the immediate term.

Consumption By Country

China (11K tons) remains the largest colloidal precious metals consuming country worldwide, comprising approx. 21% of total volume. Moreover, colloidal precious metals consumption in China exceeded the figures recorded by the second-largest consumer, India (4.7K tons), twofold. The third position in this ranking was taken by the United States (2.9K tons), with a 5.4% share.

From 2012 to 2022, the average annual growth rate of volume in China amounted to +7.9%. In the other countries, the average annual rates were as follows: India (+6.8% per year) and the United States (-1.9% per year).

In value terms, China ($53.5B) led the market, alone. The second position in the ranking was held by Russia ($14.6B). It was followed by Brazil.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +10.5%. In the other countries, the average annual rates were as follows: Russia (+0.5% per year) and Brazil (+4.6% per year).

The countries with the highest levels of colloidal precious metals per capita consumption in 2022 were Malaysia (32 kg per 1000 persons), Germany (21 kg per 1000 persons) and Russia (16 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +9.4%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Colloidal Precious Metals, Compounds And Amalgams Of Precious Metals (Excluding Silver Nitrate)

In 2022, production of colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate) decreased by -0.6% to 56K tons for the first time since 2019, thus ending a two-year rising trend. The total output volume increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 21%. Global production peaked at 62K tons in 2017; however, from 2018 to 2022, production remained at a lower figure.

In value terms, colloidal precious metals production stood at $137.2B in 2022 estimated in export price. In general, the total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.5% against 2020 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by 37% against the previous year. Over the period under review, global production hit record highs at $139.4B in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Production By Country

China (11K tons) remains the largest colloidal precious metals producing country worldwide, comprising approx. 20% of total volume. Moreover, colloidal precious metals production in China exceeded the figures recorded by the second-largest producer, India (4.7K tons), twofold. The third position in this ranking was taken by the United States (4.1K tons), with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to +7.8%. The remaining producing countries recorded the following average annual rates of production growth: India (+6.8% per year) and the United States (-1.6% per year).

Imports

World Imports of Colloidal Precious Metals, Compounds And Amalgams Of Precious Metals (Excluding Silver Nitrate)

In 2022, approx. 5.6K tons of colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate) were imported worldwide; increasing by 47% compared with the previous year's figure. Overall, imports enjoyed resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, colloidal precious metals imports expanded slightly to $9.1B in 2022. In general, imports recorded a strong increase. The most prominent rate of growth was recorded in 2020 when imports increased by 35% against the previous year. Over the period under review, global imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports By Country

In 2022, Malaysia (1.1K tons), distantly followed by the Czech Republic (524 tons), the Netherlands (447 tons), South Africa (420 tons), the UK (400 tons) and Germany (289 tons) represented the key importers of colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate), together constituting 56% of total imports. Belgium (231 tons), France (224 tons), Singapore (168 tons), Spain (166 tons), India (153 tons), Indonesia (150 tons) and Italy (141 tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to colloidal precious metals imports into Malaysia stood at +10.8%. At the same time, South Africa (+39.0%), India (+22.3%), the Czech Republic (+21.0%), the Netherlands (+20.0%), Indonesia (+13.5%), the UK (+8.3%), France (+6.2%), Belgium (+4.9%) and Germany (+3.7%) displayed positive paces of growth. Moreover, South Africa emerged as the fastest-growing importer imported in the world, with a CAGR of +39.0% from 2012-2022. Italy and Singapore experienced a relatively flat trend pattern. By contrast, Spain (-3.5%) illustrated a downward trend over the same period. South Africa (+6.9 p.p.), the Czech Republic (+6.5 p.p.), the Netherlands (+5.4 p.p.), Malaysia (+5.2 p.p.) and India (+2 p.p.) significantly strengthened its position in terms of the global imports, while Germany, Italy, Singapore and Spain saw its share reduced by -2.1%, -2.3%, -3.1% and -5.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($1.9B) constitutes the largest market for imported colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate) worldwide, comprising 21% of global imports. The second position in the ranking was held by Germany ($607M), with a 6.6% share of global imports. It was followed by France, with a 5.5% share.

In India, colloidal precious metals imports increased at an average annual rate of +31.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Germany (-5.5% per year) and France (-1.0% per year).

Import Prices By Country

The average colloidal precious metals import price stood at $1,631 per kg in 2022, falling by -29.6% against the previous year. Overall, the import price saw a slight decline. The most prominent rate of growth was recorded in 2018 when the average import price increased by 20%. Global import price peaked at $2,317 per kg in 2021, and then shrank dramatically in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($12,407 per kg), while Belgium ($167 per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+12.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Colloidal Precious Metals, Compounds And Amalgams Of Precious Metals (Excluding Silver Nitrate)

After two years of growth, shipments abroad of colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate) decreased by -0.7% to 6.5K tons in 2022. Over the period under review, exports, however, saw prominent growth. The most prominent rate of growth was recorded in 2017 when exports increased by 160% against the previous year. As a result, the exports reached the peak of 12K tons. From 2018 to 2022, the growth of the global exports remained at a somewhat lower figure.

In value terms, colloidal precious metals exports fell to $15B in 2022. Overall, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 46% against the previous year. The global exports peaked at $15.9B in 2021, and then contracted in the following year.

Exports By Country

The United States (1,170 tons), Ireland (969 tons), Belgium (840 tons) and the UK (796 tons) represented roughly 58% of total exports in 2022. Ghana (522 tons) ranks next in terms of the total exports with an 8.1% share, followed by Germany (6.9%), the Netherlands (5.4%) and Japan (4.9%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Ghana (with a CAGR of +67.1%), while the other global leaders experienced more modest paces of growth.

In value terms, Germany ($5.2B), Japan ($2.9B) and the UK ($1.8B) were the countries with the highest levels of exports in 2022, with a combined 66% share of global exports. The United States, Ireland, Ghana, Belgium and the Netherlands lagged somewhat behind, together comprising a further 21%.

Ghana, with a CAGR of +76.3%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average colloidal precious metals export price stood at $2,313 per kg in 2022, waning by -5.4% against the previous year. Overall, the export price, however, continues to indicate a temperate increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 178%. Over the period under review, the average export prices reached the maximum at $2,444 per kg in 2021, and then fell in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($11,504 per kg), while Belgium ($176 per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+16.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform