Europe: Silicone Market 2024

Silicone Market Size in Europe

The Europe silicone market expanded markedly to $X in 2021, increasing by 12% against the previous year. The market value increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is likely to see gradual growth in the near future.

Silicone Production in Europe

In value terms, silicone production rose remarkably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 16%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Silicone Exports

Exports in Europe

In 2021, shipments abroad of silicones (in primary forms) increased by 26% to X tons, rising for the second consecutive year after three years of decline. The total export volume increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when exports increased by 30% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, silicone exports surged to $X in 2021. Total exports indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +3.5% 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 +90.7% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, the UK (X tons), Belgium (X tons), France (X tons) and the Netherlands (X tons) represented the major exporter of silicones (in primary forms) in Europe, committing 86% of total export. It was distantly followed by Italy (X tons), creating a 4.6% share of total exports. Spain (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Spain (with a CAGR of +6.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest silicone supplying countries in Europe were the Netherlands ($X), Belgium ($X) and the UK ($X), with a combined 68% share of total exports. These countries were followed by France, Italy and Spain, which together accounted for a further 25%.

Spain, with a CAGR of +5.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries 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 Europe stood at $X per ton in 2021, picking up by 16% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Netherlands ($X per ton), while the UK ($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 (+3.5%), while the other leaders experienced more modest paces of growth.

Silicone Imports

Imports in Europe

In 2021, supplies from abroad 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 +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 29% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, silicone imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Belgium (X tons), distantly followed by the Netherlands (X tons), Germany (X tons), Italy (X tons), the UK (X tons), France (X tons) and Spain (X tons) represented the key importers of silicones (in primary forms), together committing 76% of total imports. The following importers - Russia (X tons), Poland (X tons), Austria (X tons), Ireland (X tons) and the Czech Republic (X tons) - together made up 14% of total imports.

From 2012 to 2021, the biggest increases were recorded for Ireland (with a CAGR of +33.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest silicone importing markets in Europe were Belgium ($X), the Netherlands ($X) and Germany ($X), together accounting for 45% of total imports. Italy, the UK, France, Spain, Russia, Poland, Austria, the Czech Republic and Ireland lagged somewhat behind, together comprising a further 43%.

Among the main importing countries, Ireland, with a CAGR of +17.5%, recorded the highest growth rate of 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 Europe stood at $X per ton in 2021, rising by 13% against the previous year. Over the last nine years, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2018 an increase of 21%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform