Azerbaijan: Silicone Market 2025

Silicone Market Size in Azerbaijan

In 2021, after two years of decline, there was growth in the Azerbaijani silicone market, when its value increased by 0.1% to $X. Over the period under review, consumption, however, enjoyed a strong increase. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Silicone Exports

Exports from Azerbaijan

For the fourth year in a row, Azerbaijan recorded decline in overseas shipments of silicones (in primary forms), which decreased by 0% to X tons in 2021. In general, exports saw a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of 619% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, silicone exports totaled $X in 2021. Overall, exports showed significant growth. The pace of growth was the most pronounced in 2017 when exports increased by 621%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Turkey (X tons) was the main destination for silicone exports from Azerbaijan, with a approx. 100% share of total exports.

From 2014 to 2021, the average annual rate of growth in terms of volume to Turkey was relatively modest.

From 2014 to 2021, the average annual rate of growth in terms of value to Turkey was relatively modest.

Export Prices by Country

The average silicone export price stood at $X per ton in 2021, remaining constant against the previous year. Over the period under review, the export price faced a abrupt contraction. The pace of growth was the most pronounced in 2019 when the average export price increased by 432% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2014 to 2021, the rate of growth in terms of prices for Turkey amounted to 0.0% per year.

Silicone Imports

Imports into Azerbaijan

In 2021, purchases abroad of silicones (in primary forms) was finally on the rise to reach X tons after three years of decline. Overall, imports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of 146% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, silicone imports surged to $X in 2021. Over the period under review, imports saw a prominent increase. The growth pace was the most rapid in 2014 with an increase of 120%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of silicone to Azerbaijan, accounting for a 52% share of total imports. Moreover, silicone imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was held by the United Arab Emirates (X tons), with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +22.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+13.3% per year) and the United Arab Emirates (+43.0% per year).

In value terms, the largest silicone suppliers to Azerbaijan were China ($X), Germany ($X) and the UK ($X), with a combined 67% share of total imports. The United Arab Emirates, Turkey, Italy and Iran lagged somewhat behind, together accounting for a further 12%.

In terms of the main suppliers, Iran, with a CAGR of +42.0%, saw the highest rates of growth with regard to the value of imports, 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, surging by 27% against the previous year. Over the period under review, import price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 an increase of 44%. The import price peaked in 2021 and is expected to retain growth in the near future.

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 the UK ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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