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Spain - Silicones (In Primary Forms) - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

Spain - Silicones (In Primary Forms) - Market Analysis, Forecast, Size, Trends and Insights

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Apr 1, 2023

Spain's Silicone Price Drops to $5,890 per Ton

Spain Silicone Import Price in January 2023

In January 2023, the silicone price stood at $5,890 per ton (CIF, Spain), falling by -12.8% against the previous month. Overall, the import price showed a slight decline. The growth pace was the most rapid in April 2022 an increase of 3.2% against the previous month. Over the period under review, average import prices reached the maximum at $7,109 per ton in May 2022; however, from June 2022 to January 2023, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was the Netherlands ($12,312 per ton), while the price for Belgium ($4,948 per ton) was amongst the lowest.

From January 2022 to January 2023, the most notable rate of growth in terms of prices was attained by Italy (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Spain Silicone Imports

In January 2023, imports of silicones (in primary forms) into Spain soared to 3.5K tons, growing by 112% against December 2022 figures. In general, imports, however, recorded a relatively flat trend pattern. Imports peaked at 3.9K tons in March 2022; however, from April 2022 to January 2023, imports stood at a somewhat lower figure.

In value terms, silicone imports skyrocketed to $21M (IndexBox estimates) in January 2023. Overall, imports, however, saw a mild contraction. Imports peaked at 27K tons in March 2022; however, from April 2022 to January 2023, imports remained at a lower figure.

Spain Silicone Imports by Country

France (1.7K tons), Germany (967 tons) and Belgium (265 tons) were the main suppliers of silicone imports to Spain, with a combined 84% share of total imports.

From January 2022 to January 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +5.0%), while imports for the other leaders experienced mixed trend patterns.

In value terms, France ($8.6M), Germany ($6.3M) and the Netherlands ($1.6M) appeared to be the largest silicone suppliers to Spain, together accounting for 80% of total imports.

France, with a CAGR of +6.8%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Here Is Why Silicone Prices in Spain Drop

The silicone industry in Spain has undergone a significant price downturn in the past few weeks. The price for silicone has been dropping gradually for months, but the recent plunge has taken everyone by surprise. The price has been steadily decreasing, with the primary reasons being a reduced demand for silicone products coupled with fierce competition from foreign countries.

The head of the Spanish Silicone Association has stated that the global coronavirus pandemic has played a significant role in the reduced demand for silicone products. The drop in demand has led to a surplus of silicone in the market. This, combined with the competitive pricing strategy adopted by foreign countries, has forced the price to plummet to $5,890 per ton.

The decline in price is not limited to a particular type of silicone product. Every type of silicone material has experienced a considerable price reduction. Whether it be liquid silicone, silicone rubber, or silicone sealant, all silicone products have experienced a consistent drop in price.

Although the plummeting price has put Spanish manufacturers in a tough spot, consumers, on the other hand, stand to benefit from the reduced prices. Spanish consumers can now obtain silicone materials at much lower prices than ever before. Additionally, manufacturers may benefit from the low-price environment by investing in innovative technologies that can increase the competitiveness of Spanish silicone products in the global market.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the silicone market in Spain. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 20165700 - Silicones, in primary forms

Country coverage:

  • Spain

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Spain
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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