Connect with us

Mining

Silver: The Undercover Super Metal

Published

on

Silver: The Undercover Super Metal

Silver: The Undercover Super Metal

Silver has a reputation for being gold’s less desirable sister, but make no mistake, silver may still be a golden opportunity to invest in.

You might be surprised to know that silver plays a part in many everyday things you use, especially electronics. Silver has the highest electrical and thermal conductivity of all metals. The use of silver is very prevalent in the photography, consumer electronics, medical, and high tech industries.

A huge future super consumer of silver will be the green technology sector. The primary technology that converts the energy of light into electricity in solar panels is solar cells, also known as photovoltaic cells. Silver is the primary ingredient used in these cells; depending on the type, up to 90% of the cell may be silver. Future silver consumption by the solar energy industry is estimated to be 100 million ounces by 2015.

Another area silver may be set to gain steam is in batteries. Lithium ion batteries were first commercialized over 20 years ago by Sony, which makes them very old from a tech perspective. Many concerns have also been raised about their safety. Some research is showing that silver oxide and silver-zinc batteries might be a substitute. Imagine if a company such as Tesla switched to using silver as a main component of their batteries. Hint: they just ordered 2 billion automotive-grade lithium ion cells from Panasonic.

Original graphic from: sbcgold.com

4 Comments

Mining

The Biggest Salt Producing Countries in 2023

In this graphic, we break down global salt production in 2023. China is currently the top producer, accounting for almost 20% of output.

Published

on

Voronoi graphic breaking down global salt production in 2023.

The Biggest Salt Producing Countries in 2023

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Humanity has utilized salt for thousands of years, dating back to ancient civilizations. The U.S. alone consumes more than 48 million tonnes of salt per year.

In this graphic, we break down global salt production in 2023, measured in tonnes. These estimates come from the U.S. Geological Survey’s latest commodity report on salt.

Ample Supply

Salt is essential for human life, serving various purposes including food preservation, flavor enhancement, industrial processes, and health maintenance. The good news is that the world’s continental resources of salt are vast, and the salt content in the oceans is nearly unlimited.

China is currently the top producer of salt, with almost 20% of the output, followed by the U.S. (15%) and India (11%).

CountryProduction (tonnes)
🇨🇳 China53,000,000
🇺🇸 United States42,000,000
🇮🇳 India30,000,000
🇩🇪 Germany15,000,000
🇦🇺 Australia14,000,000
🇨🇦 Canada12,000,000
🇨🇱 Chile9,200,000
🇲🇽 Mexico9,000,000
🇹🇷 Turkey9,000,000
🇷🇺 Russia7,000,000
🇧🇷 Brazil6,600,000
Rest of world67,000,000
Global total273,800,000

The global salt market was valued at $32.6 billion in 2022.

It’s projected to grow from $34.1 billion in 2023 to $48.6 billion by 2030, with a CAGR of 5.2% during the forecast period. This suggests a surprising amount of growth for what is one of the world’s oldest and most common commodities.

Facts About the U.S. Salt Industry

In the U.S., salt is produced by 25 companies, which operate 63 plants across 16 states.

The states that produce the most salt are Kansas, Louisiana, Michigan, New York, Ohio, Texas, and Utah. Altogether, these states account for 95% of domestic production.

The primary uses of salt in the U.S. are highway de-icing (41%), chemical production (38%), and food processing (10%).

Continue Reading
Voronoi, the app by Visual Capitalist. Where data tells the story. Download on App Store or Google Play

Subscribe

Popular