Greece: Silicon Dioxide Market 2024

Silicon Dioxide Market Size in Greece

In 2021, the Greek silicon dioxide market increased by 51% to $X for the first time since 2017, thus ending a three-year declining trend. The market value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Silicon Dioxide Exports

Exports from Greece

In 2021, shipments abroad of silicon dioxide decreased by -17.9% to X tons for the first time since 2016, thus ending a four-year rising trend. In general, exports, however, posted a resilient increase. The growth pace was the most rapid in 2020 with an increase of 268% against the previous year. As a result, the exports attained the peak of X tons, and then fell notably in the following year.

In value terms, silicon dioxide exports surged to $X in 2021. Over the period under review, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 291% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Kosovo (X tons) was the main destination for silicon dioxide exports from Greece, with a 35% share of total exports. Moreover, silicon dioxide exports to Kosovo exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), twofold. Serbia (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Kosovo stood at +147.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+2,726.2% per year) and Serbia (+14.1% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for silicon dioxide exports from Greece, comprising 47% of total exports. The second position in the ranking was held by Kosovo ($X), with a 7.9% share of total exports. It was followed by Cyprus, with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates stood at +4,740.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kosovo (-14.8% per year) and Cyprus (-7.5% per year).

Export Prices by Country

In 2021, the average silicon dioxide export price amounted to $X per ton, increasing by 55% against the previous year. In general, the export price, however, continues to indicate a slight shrinkage. The growth pace was the most rapid in 2016 when the average export price increased by 61%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Serbia ($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 the United Arab Emirates (+71.3%), while the prices for the other major destinations experienced mixed trend patterns.

Silicon Dioxide Imports

Imports into Greece

Silicon dioxide imports into Greece skyrocketed to X tons in 2021, jumping by 18% on 2020. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 48% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, silicon dioxide imports skyrocketed to $X in 2021. Over the period under review, total imports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +60.7% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of silicon dioxide to Greece, accounting for a 37% share of total imports. Moreover, silicon dioxide imports from Germany exceeded the figures recorded by the second-largest supplier, Egypt (X tons), twofold. Poland (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+4.5% per year) and Poland (+37.1% per year).

In value terms, Germany ($X) constituted the largest supplier of silicon dioxide to Greece, comprising 54% of total imports. The second position in the ranking was held by France ($X), with a 15% share of total imports. It was followed by Italy, with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+4.9% per year) and Italy (+8.1% per year).

Import Prices by Country

The average silicon dioxide import price stood at $X per ton in 2021, jumping by 33% against the previous year. Over the period under review, import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 an increase of 40% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

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 Italy ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+19.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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