Bangladesh: Silicone Market 2025

Silicone Market Size in Bangladesh

In 2021, the Bangladeshi silicone market decreased by -7.8% to $X, falling for the third year in a row after five years of growth. In general, consumption, however, posted buoyant growth. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Silicone Exports

Exports from Bangladesh

In 2021, overseas shipments of silicones (in primary forms) increased by 907% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports continue to indicate buoyant growth. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, silicone exports soared to $X in 2021. Overall, exports posted significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore (X tons) was the main destination for silicone exports from Bangladesh, with a 67% share of total exports. Moreover, silicone exports to Singapore exceeded the volume sent to the second major destination, China (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Singapore totaled -17.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-49.2% per year) and Turkey (-8.0% per year).

In value terms, the largest markets for silicone exported from Bangladesh were Singapore ($X), China ($X) and Turkey ($X), together accounting for 100% of total exports.

Among the main countries of destination, Singapore, with a CAGR of +81.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average silicone export price amounted to $X per ton, picking up by 46% against the previous year. In general, the export price posted a strong expansion. The most prominent rate of growth was recorded in 2020 an increase of 160% against the previous year. The export price peaked in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Turkey ($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 Singapore (+120.8%), while the prices for the other major destinations experienced more modest paces of growth.

Silicone Imports

Imports into Bangladesh

In 2021, overseas purchases of silicones (in primary forms) decreased by -17% to X tons, falling for the second year in a row after six years of growth. Over the period under review, imports, however, showed resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 26%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, silicone imports reduced to $X in 2021. In general, imports, however, recorded a strong expansion. The growth pace was the most rapid in 2018 when imports increased by 30% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

India (X tons), China (X tons) and Singapore (X tons) were the main suppliers of silicone imports to Bangladesh, with a combined 72% share of total imports. Germany, Turkey, Thailand, Taiwan (Chinese) and Pakistan lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +23.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest silicone suppliers to Bangladesh were India ($X), China ($X) and Germany ($X), together accounting for 74% of total imports.

In terms of the main suppliers, China, with a CAGR of +17.8%, recorded the highest growth rate of 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, increasing by 13% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 14%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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