Eastern Europe: Silicone Market 2024

Silicone Market Size in Eastern Europe

After two years of decline, the East European silicone market increased by 17% to $X in 2021. The total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Silicone Production in Eastern Europe

In value terms, silicone production surged to $X in 2021 estimated in export price. Overall, production, however, posted buoyant growth. The growth pace was the most rapid in 2018 when the production volume increased by 83% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Silicone Exports

Exports in Eastern Europe

In 2021, shipments abroad of silicones (in primary forms) was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, silicone exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +5.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, the Czech Republic (X tons) and Poland (X tons) were the largest exporters of silicones (in primary forms) in Eastern Europe, together resulting at approx. 64% of total exports. It was distantly followed by Hungary (X tons) and Russia (X tons), together constituting a 20% share of total exports. The following exporters - Lithuania (X tons), Estonia (X tons) and Belarus (X tons) - together made up 9% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Hungary (with a CAGR of +38.8%), while the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Poland ($X) and Hungary ($X) were the countries with the highest levels of exports in 2021, with a combined 79% share of total exports. Russia, Lithuania, Estonia and Belarus lagged somewhat behind, together accounting for a further 16%.

In terms of the main exporting countries, Belarus, with a CAGR of +33.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, picking up by 13% against the previous year. Over the period under review, the export price, however, recorded a slight descent. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lithuania (+2.1%), while the other leaders experienced more modest paces of growth.

Silicone Imports

Imports in Eastern Europe

In 2021, after two years of decline, there was significant growth in supplies from abroad of silicones (in primary forms), when their volume increased by 18% to X tons. Total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine years. 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 28% against the previous year. 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. Total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.7% 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 with an increase of 52% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

In 2021, Russia (X tons) and Poland (X tons) represented the key importers of silicones (in primary forms) in Eastern Europe, together comprising 55% of total imports. The Czech Republic (X tons) ranks next in terms of the total imports with a 16% share, followed by Romania (7.8%), Hungary (6.5%) and Estonia (4.5%). Ukraine (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Estonia (with a CAGR of +16.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Poland ($X) and the Czech Republic ($X) were the countries with the highest levels of imports in 2021, with a combined 62% share of total imports. Romania, Hungary, Ukraine and Estonia lagged somewhat behind, together accounting for a further 23%.

In terms of the main importing countries, Hungary, with a CAGR of +11.1%, 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 import price in Eastern Europe stood at $X per ton in 2021, surging by 16% against the previous year. Over the last nine years, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2018 when the import price increased by 19% against the previous year. Over the period under review, import prices hit record highs in 2021 and is likely to see steady growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+2.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :