Australia: Silicone Market 2024

Silicone Market Size in Australia

The Australian silicone market soared to $X in 2021, with an increase of 28% 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 +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Silicone Exports

Exports from Australia

In 2021, overseas shipments of silicones (in primary forms) decreased by -4.1% to X tons, falling for the second consecutive year after two years of growth. The total export volume increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 26% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, silicone exports fell to $X in 2021. In general, total exports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.5% 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 -19.8% against 2018 indices. The growth pace was the most rapid in 2018 with an increase of 37% 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

Malaysia (X tons), New Zealand (X tons) and Indonesia (X tons) were the main destinations of silicone exports from Australia, together comprising 81% of total exports.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +62.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), Malaysia ($X) and Papua New Guinea ($X) constituted the largest markets for silicone exported from Australia worldwide, together accounting for 72% of total exports. Taiwan (Chinese), Indonesia, Japan and South Korea lagged somewhat behind, together accounting for a further 18%.

Indonesia, with a CAGR of +48.9%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average silicone export price stood at $X per ton in 2021, which is down by -7.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2020 an increase of 26% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Papua New Guinea (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.

Silicone Imports

Imports into Australia

In 2021, purchases abroad of silicones (in primary forms) increased by 19% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 34% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, silicone imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Germany (X tons) and the United States (X tons) were the main suppliers of silicone imports to Australia, together accounting for 77% of total imports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +23.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and the United States ($X) constituted the largest silicone suppliers to Australia, with a combined 77% share of total imports. These countries were followed by South Korea, Thailand, the UK, Japan, New Zealand, Belgium and Singapore, which together accounted for a further 19%.

South Korea, with a CAGR of +25.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average silicone import price stood at $X per ton in 2021, growing by 6.3% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the average import price increased by 45%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+16.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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