Australia and Oceania: Silicone Market 2024

Silicone Market Size in Australia and Oceania

The silicone market in Australia and Oceania skyrocketed to $X in 2021, growing by 28% against the previous year. The market value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Silicone Production in Australia and Oceania

In value terms, silicone production amounted to $X in 2021 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.1% against 2019 indices. The growth pace was the most rapid in 2018 when the production volume increased by 24%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Silicone Exports

Exports in Australia and Oceania

For the third consecutive year, Australia and Oceania recorded decline in shipments abroad of silicones (in primary forms), which decreased by -9.5% to X tons in 2021. Total exports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -43.2% against 2018 indices. The growth pace was the most rapid in 2018 when exports increased by 59%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, silicone exports fell to $X in 2021. Total exports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -30.2% against 2018 indices. The pace of growth was the most pronounced in 2018 with an increase of 57% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Australia was the key exporter of silicones (in primary forms) in Australia and Oceania, with the volume of exports accounting for X tons, which was near 85% of total exports in 2021. It was distantly followed by New Zealand (X tons), mixing up a 15% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to silicone exports from Australia stood at +1.6%. At the same time, New Zealand (+8.0%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of +8.0% from 2012-2021. While the share of New Zealand (+5.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Australia (-5.6 p.p.) displayed negative dynamics.

In value terms, Australia ($X) remains the largest silicone supplier in Australia and Oceania, comprising 86% of total exports. The second position in the ranking was held by New Zealand ($X), with a 14% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Australia amounted to +3.5%.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2021, stabilizing at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2020 when the export price increased by 26% against the previous year. As a result, the export price attained the peak level of $X per ton, and then contracted in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while New Zealand stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+1.9%).

Silicone Imports

Imports in Australia and Oceania

In 2021, after four years of decline, there was significant growth in overseas purchases of silicones (in primary forms), when their volume increased by 20% to X tons. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 29% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, silicone imports soared to $X in 2021. The total import value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Australia represented the major importer of silicones (in primary forms) in Australia and Oceania, with the volume of imports recording X tons, which was approx. 77% of total imports in 2021. It was distantly followed by New Zealand (X tons), achieving a 20% share of total imports. Papua New Guinea (X tons) followed a long way behind the leaders.

Australia experienced a relatively flat trend pattern with regard to volume of imports of silicones (in primary forms). At the same time, New Zealand (+2.4%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +2.4% from 2012-2021. Papua New Guinea experienced a relatively flat trend pattern. New Zealand (+2.4 p.p.) significantly strengthened its position in terms of the total imports, while Australia saw its share reduced by -2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported silicones (in primary forms) in Australia and Oceania, comprising 74% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 24% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Australia stood at +3.1%. In the other countries, the average annual rates were as follows: New Zealand (+4.5% per year) and Papua New Guinea (-4.6% per year).

Import Prices by Country

In 2021, the import price in Australia and Oceania amounted to $X per ton, picking up by 3.2% against the previous year. Import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, silicone import price decreased by -2.4% against 2018 indices. The growth pace was the most rapid in 2017 an increase of 40%. Over the period under review, import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was New Zealand ($X per ton), while Papua New Guinea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+2.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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