Luxembourg: Silicone Market 2024

Silicone Market Size in Luxembourg

In 2021, the Luxembourg silicone market increased by 20% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Silicone consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Silicone Exports

Exports from Luxembourg

In 2021, shipments abroad of silicones (in primary forms) decreased by -15.7% to X tons, falling for the second consecutive year after two years of growth. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by 61%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, silicone exports expanded modestly to $X in 2021. The total export value increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when exports increased by 68%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Italy (X tons), Belgium (X tons) and Germany (X tons) were the main destinations of silicone exports from Luxembourg, with a combined 63% share of total exports. These countries were followed by France, Poland, Spain, Turkey, Austria and the Netherlands, which together accounted for a further 26%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +46.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) remains the key foreign market for silicones (in primary forms) exports from Luxembourg, comprising 37% of total exports. The second position in the ranking was held by Poland ($X), with a 12% share of total exports. It was followed by France, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Italy amounted to +25.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+46.0% per year) and France (+19.9% per year).

Export Prices by Country

The average silicone export price stood at $X per ton in 2021, rising by 22% against the previous year. In general, export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, silicone export price increased by +39.3% against 2017 indices. The pace of growth appeared the most rapid in 2017 an increase of 30% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Belgium ($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 Turkey (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Silicone Imports

Imports into Luxembourg

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 23% to X tons. The total import volume increased at an average annual rate of +3.3% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, silicone imports soared to $X in 2021. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 22%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest silicone supplier to Luxembourg, with a 77% share of total imports. Moreover, silicone imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. The third position in this ranking was held by Belgium (X tons), with a 3.9% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands amounted to +49.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-13.6% per year) and Belgium (+7.7% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of silicones (in primary forms) to Luxembourg, comprising 74% of total imports. The second position in the ranking was held by Germany ($X), with a 17% share of total imports. It was followed by Belgium, with a 7% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands amounted to +55.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-16.3% per year) and Belgium (+6.9% per year).

Import Prices by Country

In 2021, the average silicone import price amounted to $X per ton, which is down by -3.6% against the previous year. Over the period under review, the import price showed a pronounced contraction. The most prominent rate of growth was recorded in 2017 when the average import price increased by 9.5%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Austria ($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 (+4.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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