Ecuador: Silicon Dioxide Market 2024

Silicon Dioxide Market Size in Ecuador

The Ecuadorian silicon dioxide market was finally on the rise to reach $X in 2021, after two years of decline. Overall, the total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -5.1% against 2018 indices. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Silicon Dioxide Exports

Exports from Ecuador

After two years of growth, overseas shipments of silicon dioxide decreased by -17% to X kg in 2021. Over the period under review, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by 288% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, silicon dioxide exports soared to $X in 2021. Overall, exports, however, recorded strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 385%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X kg) was the main destination for silicon dioxide exports from Ecuador, accounting for a 84% share of total exports. Moreover, silicon dioxide exports to the United States exceeded the volume sent to the second major destination, Costa Rica (X kg), sevenfold. The third position in this ranking was held by Peru (X kg), with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +625.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (-40.6% per year) and Peru (-0.5% per year).

In value terms, the United States ($X) emerged as the key foreign market for silicon dioxide exports from Ecuador, comprising 93% of total exports. The second position in the ranking was held by Costa Rica ($X), with a 5.6% share of total exports. It was followed by Peru, with a 0.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +137.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (-42.8% per year) and Peru (-4.3% per year).

Export Prices by Country

In 2021, the average silicon dioxide export price amounted to $X per ton, jumping by 158% against the previous year. In general, the export price posted a significant increase. As a result, the export price reached the peak level 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 Chile ($X per ton), while the average price for exports to Venezuela ($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 Guatemala (+160.3%), while the prices for the other major destinations experienced more modest paces of growth.

Silicon Dioxide Imports

Imports into Ecuador

In 2021, supplies from abroad of silicon dioxide was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, total imports indicated a tangible increase from 2012 to 2021: its volume increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -22.6% against 2018 indices. The most prominent rate of growth was recorded in 2014 with an increase of 69%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, silicon dioxide imports rose sharply to $X in 2021. Overall, total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -0.5% against 2019 indices. The growth pace was the most rapid in 2016 with an increase of 56%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Brazil (X tons), the United States (X tons) and China (X tons) were the main suppliers of silicon dioxide imports to Ecuador, together comprising 59% of total imports. These countries were followed by Thailand, the Netherlands, Germany and Colombia, which together accounted for a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +50.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of silicon dioxide to Ecuador, comprising 34% of total imports. The second position in the ranking was held by Brazil ($X), with a 16% share of total imports. It was followed by China, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to +14.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-3.9% per year) and China (+3.9% per year).

Import Prices by Country

In 2021, the average silicon dioxide import price amounted to $X per ton, rising by 7.2% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 41% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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