CIS: Silicone Market 2024

Silicone Market Size in CIS

In 2021, after two years of decline, there was significant growth in the CIS silicone market, when its value increased by 17% to $X. In general, consumption saw a prominent expansion. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Silicone Production in CIS

In value terms, silicone production surged to $X in 2021 estimated in export price. In general, production, however, enjoyed a resilient increase. The growth pace was the most rapid in 2018 with an increase of 86%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Silicone Exports

Exports in CIS

In 2021, overseas shipments of silicones (in primary forms) increased by 43% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports posted a prominent expansion. The growth pace was the most rapid in 2016 with an increase of 197%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, silicone exports skyrocketed to $X in 2021. Overall, exports saw a buoyant increase. The pace of growth was the most pronounced in 2016 with an increase of 99%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

Russia was the key exporting country with an export of around X tons, which recorded 69% of total exports. Belarus (X tons) held a 23% share (based on physical terms) of total exports, which put it in second place, followed by Azerbaijan (6.5%).

From 2012 to 2021, average annual rates of growth with regard to silicone exports from Russia stood at +7.9%. At the same time, Azerbaijan (+134.2%) and Belarus (+37.2%) displayed positive paces of growth. Moreover, Azerbaijan emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +134.2% from 2012-2021. From 2012 to 2021, the share of Belarus and Azerbaijan increased by +20 and +6.5 percentage points, respectively.

In value terms, Russia ($X) remains the largest silicone supplier in the CIS, comprising 81% of total exports. The second position in the ranking was taken by Belarus ($X), with a 15% share of total exports.

In Russia, silicone exports expanded at an average annual rate of +9.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Belarus (+33.4% per year) and Azerbaijan (+107.9% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2021, remaining relatively unchanged against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 53% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Russia ($X per ton), while Azerbaijan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+1.5%), while the other leaders experienced a decline in the export price figures.

Silicone Imports

Imports in CIS

In 2021, overseas purchases of silicones (in primary forms) were finally on the rise to reach X tons after two years of decline. Total imports indicated a buoyant increase from 2012 to 2021: its volume 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. The pace of growth was the most pronounced in 2018 when imports increased by 74%. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in years to come.

In value terms, silicone imports skyrocketed to $X in 2021. In general, imports recorded resilient growth. The pace of growth appeared the most rapid in 2018 when imports increased by 136%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

Russia dominates imports structure, finishing at X tons, which was near 87% of total imports in 2021. It was distantly followed by Belarus (X tons), constituting a 6% share of total imports. Uzbekistan (X tons) and Kazakhstan (X tons) held a little share of total imports.

Imports into Russia increased at an average annual rate of +4.9% from 2012 to 2021. At the same time, Uzbekistan (+11.1%), Kazakhstan (+7.2%) and Belarus (+1.8%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +11.1% from 2012-2021. From 2012 to 2021, the share of Uzbekistan increased by +3.4 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported silicones (in primary forms) in the CIS, comprising 86% of total imports. The second position in the ranking was taken by Belarus ($X), with an 8% share of total imports. It was followed by Uzbekistan, with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Russia totaled +7.0%. In the other countries, the average annual rates were as follows: Belarus (+3.9% per year) and Uzbekistan (+19.8% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2021, jumping by 21% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2018 an increase of 36%. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+7.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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