Brazil: Silicone Market 2024

Silicone Market Size in Brazil

For the sixth year in a row, the Brazilian silicone market recorded growth in sales value, which increased by 1.1% to $X in 2021. The market value increased at an average annual rate of +3.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Silicone consumption peaked in 2021 and is expected to retain growth in the immediate term.

Silicone Production in Brazil

In value terms, silicone production declined slightly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +16.0% against 2014 indices. The most prominent rate of growth was recorded in 2014 with an increase of 90% against the previous year. Silicone production peaked at $X in 2020, and then reduced slightly in the following year.

Silicone Exports

Exports from Brazil

In 2021, the amount of silicones (in primary forms) exported from Brazil skyrocketed to X tons, growing by 29% against the previous year's figure. Overall, total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +5.0% 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 increased by +97.6% against 2016 indices. The most prominent rate of growth was recorded in 2019 with an increase of 32%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, silicone exports soared to $X in 2021. In general, total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.2% 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 increased by +109.8% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Argentina (X tons) was the main destination for silicone exports from Brazil, with a 37% share of total exports. Moreover, silicone exports to Argentina exceeded the volume sent to the second major destination, Chile (X tons), threefold. Mexico (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Argentina was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+6.4% per year) and Mexico (+26.5% per year).

In value terms, Argentina ($X) remains the key foreign market for silicones (in primary forms) exports from Brazil, comprising 38% of total exports. The second position in the ranking was taken by Mexico ($X), with a 13% share of total exports. It was followed by the United States, with a 9.2% share.

From 2012 to 2021, the average annual growth rate of value to Argentina amounted to +1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+22.6% per year) and the United States (+18.0% per year).

Export Prices by Country

The average silicone export price stood at $X per ton in 2021, increasing by 5.7% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 20%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Chile ($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 Argentina (+1.7%), while the prices for the other major destinations experienced a decline.

Silicone Imports

Imports into Brazil

In 2021, overseas purchases of silicones (in primary forms) increased by 13% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 14%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, silicone imports soared to $X in 2021. The total import value increased at an average annual rate of +2.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat 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

The United States (X tons), China (X tons) and Germany (X tons) were the main suppliers of silicone imports to Brazil, together accounting for 79% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +18.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest silicone suppliers to Brazil were the United States ($X), China ($X) and Germany ($X), together comprising 79% of total imports.

China, with a CAGR of +20.5%, saw 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 more modest paces of growth.

Import Prices by Country

In 2021, the average silicone import price amounted to $X per ton, growing by 10% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 18%. Over the period under review, average import prices reached the peak figure at $X per ton in 2019; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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