Finland: Silicone Market 2024

Silicone Market Size in Finland

The Finnish silicone market skyrocketed to $X in 2021, growing by 31% against the previous year. In general, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +65.4% against 2019 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Silicone Production in Finland

In value terms, silicone production surged to $X in 2021 estimated in export price. Overall, production, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 236% against the previous year. Silicone production peaked in 2021 and is expected to retain growth in the near future.

Silicone Exports

Exports from Finland

In 2021, overseas shipments of silicones (in primary forms) increased by 79% to X tons, rising for the third year in a row after three years of decline. Over the period under review, exports, however, continue to indicate a abrupt shrinkage. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, silicone exports surged to $X in 2021. In general, exports, however, recorded a mild downturn. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Russia (X tons), Sweden (X tons) and Estonia (X tons) were the main destinations of silicone exports from Finland, with a combined 81% share of total exports. These countries were followed by China, Malaysia, Austria, Denmark and Spain, which together accounted for a further 10%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of +276.3%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Sweden ($X) and Russia ($X) constituted the largest markets for silicone exported from Finland worldwide, with a combined 64% share of total exports. These countries were followed by Malaysia, Estonia, Denmark, Austria and Spain, which together accounted for a further 13%.

Among the main countries of destination, Malaysia, with a CAGR of +334.4%, 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 average silicone export price stood at $X per ton in 2021, waning by -12.4% against the previous year. Overall, the export price, however, recorded a strong increase. The most prominent rate of growth was recorded in 2018 an increase of 232%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Russia ($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 Spain (+26.6%), while the prices for the other major destinations experienced more modest paces of growth.

Silicone Imports

Imports into Finland

In 2021, approx. X tons of silicones (in primary forms) were imported into Finland; growing by 53% compared with the previous year. In general, total imports indicated a prominent expansion from 2012 to 2021: its volume 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. Based on 2021 figures, imports increased by +145.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 60% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, silicone imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 22%. Imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

Germany (X tons), France (X tons) and Belgium (X tons) were the main suppliers of silicone imports to Finland, with a combined 89% share of total imports. These countries were followed by the Netherlands, China, Poland and the UK, which together accounted for a further 7.6%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +110.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of silicones (in primary forms) to Finland, comprising 43% of total imports. The second position in the ranking was held by Belgium ($X), with an 18% share of total imports. It was followed by France, with a 16% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+8.8% per year) and France (+1.2% per year).

Import Prices by Country

In 2021, the average silicone import price amounted to $X per ton, waning by -21.6% against the previous year. Over the period under review, the import price saw a pronounced contraction. The most prominent rate of growth was recorded in 2019 an increase of 62% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for France ($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 (+17.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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