Israel: Silicone Market 2024

Silicone Market Size in Israel

The Israeli silicone market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Silicone Exports

Exports from Israel

In 2021, after three years of growth, there was significant decline in overseas shipments of silicones (in primary forms), when their volume decreased by -46.5% to X tons. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 76%. The exports peaked at X tons in 2020, and then declined notably in the following year.

In value terms, silicone exports fell rapidly to $X in 2021. Over the period under review, exports, however, posted tangible growth. The most prominent rate of growth was recorded in 2013 when exports increased by 76% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020, and then dropped rapidly in the following year.

Exports by Country

Italy (X tons) was the main destination for silicone exports from Israel, with a 45% share of total exports. Moreover, silicone exports to Italy exceeded the volume sent to the second major destination, Germany (X tons), threefold. The third position in this ranking was taken by Thailand (X tons), with a 7% share.

From 2012 to 2021, the average annual growth rate of volume to Italy amounted to +15.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-4.8% per year) and Thailand (+32.3% per year).

In value terms, Italy ($X) emerged as the key foreign market for silicones (in primary forms) exports from Israel, comprising 45% of total exports. The second position in the ranking was held by Germany ($X), with a 15% share of total exports. It was followed by Thailand, with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Italy stood at +18.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-2.2% per year) and Thailand (+41.3% per year).

Export Prices by Country

The average silicone export price stood at $X per ton in 2021, approximately equating the previous year. Over the period under review, export price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, silicone export price increased by +60.3% against 2016 indices. The growth pace was the most rapid in 2018 when the average export price increased by 28%. The export price peaked in 2021 and is likely to see gradual growth in years to come.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the highest price was recorded for prices to China ($X per ton) and Vietnam ($X per ton), while the average price for exports to Italy ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Silicone Imports

Imports into Israel

For the third consecutive year, Israel recorded decline in supplies from abroad of silicones (in primary forms), which decreased by less than 0.1% to X tons in 2021. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 40%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, silicone imports expanded rapidly to $X in 2021. Over the period under review, total imports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.1% 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 -32.9% against 2018 indices. The growth pace was the most rapid in 2018 when imports increased by 60% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of silicone to Israel, accounting for a 40% share of total imports. Moreover, silicone imports from Germany exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was held by Thailand (X tons), with a 9.7% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to -3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+7.5% per year) and Thailand (+71.4% per year).

In value terms, Germany ($X) constituted the largest supplier of silicones (in primary forms) to Israel, comprising 40% of total imports. The second position in the ranking was held by the United States ($X), with a 15% share of total imports. It was followed by Thailand, with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at -2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+9.3% per year) and Thailand (+74.3% per year).

Import Prices by Country

The average silicone import price stood at $X per ton in 2021, picking up by 5.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2018 an increase of 14% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from the Netherlands ($X per ton) and Thailand ($X per ton), while the price for South Korea ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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