Denmark: Silicone Market 2024

Silicone Market Size in Denmark

In 2021, the Danish silicone market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.3% 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 of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Silicone Production in Denmark

In value terms, silicone production soared to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed resilient growth. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Silicone Exports

Exports from Denmark

In 2021, overseas shipments of silicones (in primary forms) increased by 9.4% to X tons, rising for the third consecutive year after four years of decline. The total export volume increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2019 with an increase of 20%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in years to come.

In value terms, silicone exports soared to $X in 2021. Over the period under review, total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.9% 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 +74.2% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Sweden (X tons), Poland (X tons) and Finland (X tons) were the main destinations of silicone exports from Denmark, with a combined 61% share of total exports. These countries were followed by Norway, Latvia, Estonia, Russia, Pakistan, Ukraine, Belgium and Iceland, which together accounted for a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Pakistan (with a CAGR of +140.4%), while the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) remains the key foreign market for silicones (in primary forms) exports from Denmark, comprising 33% of total exports. The second position in the ranking was taken by Poland ($X), with an 11% share of total exports. It was followed by Norway, with a 9.4% share.

From 2012 to 2021, the average annual growth rate of value to Sweden totaled +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+3.9% per year) and Norway (+2.8% per year).

Export Prices by Country

The average silicone export price stood at $X per ton in 2021, rising by 5.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.5%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 14% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Iceland ($X per ton), while the average price for exports to Ukraine ($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 Latvia (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Silicone Imports

Imports into Denmark

Silicone imports into Denmark surged to X tons in 2021, rising by 15% compared with the previous year. The total import volume increased at an average annual rate of +2.6% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 37% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, silicone imports skyrocketed to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest silicone supplier to Denmark, with a 50% share of total imports. Moreover, silicone imports from Germany exceeded the figures recorded by the second-largest supplier, Sweden (X tons), twofold. Belgium (X tons) ranked third in terms of total imports with a 9.4% share.

From 2012 to 2021, the average annual growth rate of volume from Germany totaled +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+6.7% per year) and Belgium (+1.1% per year).

In value terms, the largest silicone suppliers to Denmark were Germany ($X), Sweden ($X) and the Netherlands ($X), together accounting for 73% of total imports. These countries were followed by Belgium, the UK and the Czech Republic, which together accounted for a further 12%.

The Czech Republic, with a CAGR of +58.1%, saw the highest rates of growth with regard to 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

The average silicone import price stood at $X per ton in 2021, surging by 11% against the previous year. Overall, the import price, however, saw a slight decline. The pace of growth was the most pronounced in 2018 an increase of 15% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Belgium ($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 Netherlands (+15.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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