Editor’s Note
This analysis forecasts steady, long-term growth for China’s market for colloidal precious metals, compounds, and amalgams, projecting it to reach 13,000 tons and $20.7 billion by 2035. The market is currently balanced, with Germany serving as the primary import source.
China’s market for colloidal precious metals, compounds, and amalgams (excluding silver nitrate) is forecast to reach 13,000 tons and $20.7 billion by 2035, growing at a compound annual growth rate (CAGR) of +1.1% in volume and +2.6% in value. In 2024, domestic consumption and production were balanced at approximately 12,000 tons, showing consistent long-term growth. Germany is the dominant import source by volume, accounting for a 63% share, while the United States, Germany, and Ireland lead by value. Exports surged by 192% to 39 tons in 2024, with Malaysia as the key destination, receiving 60% of the total volume. Extreme price variations exist among trading partners, with Ireland’s import price at approximately $47 million per ton compared to Italy’s price of around $1 million per ton.
Driven by increasing demand in China, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.1% for the period from 2024 to 2035, which is projected to bring the market volume to 13,000 tons by the end of 2035. In value terms, the market is forecast to increase with an anticipated CAGR of +2.6% for the same period, which is projected to bring the market value to $20.7 billion (in nominal wholesale prices) by the end of 2035.
For the twelfth consecutive year, China recorded growth in consumption of colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate), which increased by 0.5% to 12,000 tons in 2024. The total consumption volume increased at an average annual rate of +2.6% from 2013 to 2024. The size of the colloidal precious metals market in China expanded to $15.6 billion in 2024, picking up by 2.9% against the previous year.
For the twelfth consecutive year, China recorded growth in production of colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate), which increased by 0.7% to 12,000 tons in 2024. The total output volume increased at an average annual rate of +2.5% from 2013 to 2024. In value terms, colloidal precious metals production expanded to $15.5 billion in 2024, estimated in export price.
Germany is the leading import source by volume, while the United States, Germany, and Ireland are the top sources by value.