Italy: Silicone Market 2024

Silicone Market Size in Italy

The Italian silicone market expanded notably to $X in 2021, increasing by 8.9% against the previous year. In general, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.3% 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 +7.1% against 2018 indices. Silicone consumption peaked in 2021 and is likely to continue growth in years to come.

Silicone Production in Italy

In value terms, silicone production declined significantly to $X in 2021 estimated in export price. In general, production, however, showed a resilient increase. The pace of growth appeared the most rapid in 2013 when the production volume increased by 625% against the previous year. Silicone production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Silicone Exports

Exports from Italy

In 2021, silicone exports from Italy skyrocketed to X tons, rising by 16% against the previous year. The total export volume increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, silicone exports soared to $X in 2021. The total export value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons), Spain (X tons) and the Netherlands (X tons) were the main destinations of silicone exports from Italy, with a combined 27% share of total exports. The UK, France, the Czech Republic, Poland, the United States, Austria, Turkey, Mexico, Belgium and Switzerland lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +17.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for silicone exported from Italy were Germany ($X), the UK ($X) and France ($X), together comprising 30% of total exports. These countries were followed by the United States, Spain, the Czech Republic, the Netherlands, Poland, Turkey, Austria, Belgium, Mexico and Switzerland, which together accounted for a further 38%.

Mexico, with a CAGR of +12.5%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average silicone export price amounted to $X per ton, with an increase of 8.5% against the previous year. Overall, the export price, however, recorded a mild shrinkage. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Netherlands ($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 Belgium (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Silicone Imports

Imports into Italy

In 2021, after two years of decline, there was significant growth in supplies from abroad of silicones (in primary forms), when their volume increased by 20% to X tons. The total import volume increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, silicone imports surged to $X in 2021. Overall, total imports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest silicone supplier to Italy, accounting for a 37% share of total imports. Moreover, silicone imports from Germany exceeded the figures recorded by the second-largest supplier, France (X tons), twofold. The third position in this ranking was held by the Netherlands (X tons), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from Germany totaled +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+4.9% per year) and the Netherlands (+2.1% per year).

In value terms, the largest silicone suppliers to Italy were Germany ($X), the Netherlands ($X) and France ($X), together accounting for 66% of total imports. Belgium, China, the UK and Spain lagged somewhat behind, together comprising a further 21%.

Among the main suppliers, China, with a CAGR of +32.2%, recorded the highest rates of growth with regard to 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

In 2021, the average silicone import price amounted to $X per ton, picking up by 11% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2018 an increase of 19% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Spain ($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 (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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