Malaysia: Silicone Market 2024

Silicone Market Size in Malaysia

The Malaysian silicone market dropped to $X in 2021, shrinking by -12.6% against the previous year. Overall, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -14.3% against 2018 indices. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Silicone Production in Malaysia

In value terms, silicone production reduced markedly to $X in 2021 estimated in export price. Overall, production, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 2,009%. Over the period under review, production hit record highs at $X in 2020, and then declined sharply in the following year.

Silicone Exports

Exports from Malaysia

In 2021, approx. X tons of silicones (in primary forms) were exported from Malaysia; rising by 48% against the previous year's figure. Over the period under review, exports saw a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by 197%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, silicone exports surged to $X in 2021. In general, exports showed a prominent expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 100% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Thailand (X tons), China (X tons) and Vietnam (X tons) were the main destinations of silicone exports from Malaysia, together accounting for 44% of total exports. Japan, South Korea, Singapore, India, the United States, the Netherlands, Turkey, South Africa, Indonesia and Angola lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Angola (with a CAGR of +59.1%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), the United States ($X) and China ($X) were the largest markets for silicone exported from Malaysia worldwide, with a combined 33% share of total exports. These countries were followed by India, South Korea, Indonesia, Vietnam, Singapore, the Netherlands, Japan, Turkey, South Africa and Angola, which together accounted for a further 40%.

Angola, with a CAGR of +48.7%, saw the highest growth rate of the value of exports, in terms of 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, surging by 5.6% against the previous year. Over the period under review, the export price, however, showed a abrupt decline. The growth pace was the most rapid in 2018 an increase of 25% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 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 States ($X per ton), while the average price for exports to Vietnam ($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 States (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Silicone Imports

Imports into Malaysia

After two years of decline, overseas purchases of silicones (in primary forms) increased by 15% to X tons in 2021. In general, total imports indicated a mild increase from 2012 to 2021: its volume increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -28.1% against 2018 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 83% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, silicone imports skyrocketed to $X in 2021. Overall, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -15.7% against 2018 indices. The pace of growth was the most pronounced in 2013 when imports increased by 77%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Thailand (X tons) and Japan (X tons) were the main suppliers of silicone imports to Malaysia, with a combined 72% share of total imports. These countries were followed by the United States, Germany, Taiwan (Chinese), the Netherlands, South Korea and Belgium, which together accounted for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +13.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest silicone suppliers to Malaysia were Japan ($X), the United States ($X) and China ($X), with a combined 73% share of total imports.

The United States, with a CAGR of +13.8%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average silicone import price stood at $X per ton in 2021, surging by 15% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.3%. The growth pace was the most rapid in 2018 an increase of 22% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Thailand ($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 United States (+18.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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