MENA: Silicone Market 2024

Silicone Market Size in MENA

The MENA's silicone market soared to $X in 2021, with an increase of 53% against the previous year. Overall, consumption continues to indicate buoyant growth. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Silicone Production in MENA

In value terms, silicone production skyrocketed to $X in 2021 estimated in export price. In general, production showed significant growth. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Silicone Exports

Exports in MENA

In 2021, approx. X tons of silicones (in primary forms) were exported in MENA; increasing by 21% against 2020. The total export volume increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 27% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, silicone exports skyrocketed to $X in 2021. Total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Turkey (X tons) represented the major exporter of silicones (in primary forms), constituting 73% of total exports. It was distantly followed by the United Arab Emirates (X tons), comprising an 18% share of total exports. Egypt (X tons) and Saudi Arabia (X tons) took a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to silicone exports from Turkey stood at +4.4%. At the same time, Egypt (+36.9%) and Saudi Arabia (+6.5%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing exporter exported in MENA, with a CAGR of +36.9% from 2012-2021. The United Arab Emirates experienced a relatively flat trend pattern. Turkey (+4.9 p.p.) and Egypt (+3.9 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -6.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest silicone supplier in MENA, comprising 69% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 16% share of total exports. It was followed by Egypt, with a 7.8% share.

In Turkey, silicone exports expanded at an average annual rate of +6.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+5.1% per year) and Egypt (+60.4% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, increasing by 12% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.2%. The pace of growth appeared the most rapid in 2018 when the export price increased by 30% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+17.2%), while the other leaders experienced more modest paces of growth.

Silicone Imports

Imports in MENA

In 2021, silicone imports in MENA skyrocketed to X tons, picking up by 19% against the year before. The total import volume increased at an average annual rate of +5.2% from 2012 to 2021; however, the trend pattern indicated some noticeable 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 surged to $X in 2021. Total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Turkey (X tons) represented the main importer of silicones (in primary forms), mixing up 47% of total imports. It was distantly followed by the United Arab Emirates (X tons), Saudi Arabia (X tons) and Iran (X tons), together achieving a 34% share of total imports. The following importers - Israel (X tons), Egypt (X tons) and Algeria (X tons) - together made up 11% of total imports.

From 2012 to 2021, average annual rates of growth with regard to silicone imports into Turkey stood at +7.7%. At the same time, the United Arab Emirates (+15.3%) and Algeria (+12.7%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of +15.3% from 2012-2021. Israel experienced a relatively flat trend pattern. By contrast, Iran (-2.4%), Saudi Arabia (-4.2%) and Egypt (-5.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates and Turkey increased by +13 and +8.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported silicones (in primary forms) in MENA, comprising 46% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 19% share of total imports. It was followed by Saudi Arabia, with a 6.9% share.

In Turkey, silicone imports increased at an average annual rate of +7.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+16.3% per year) and Saudi Arabia (-0.3% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, growing by 23% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2018 when the import price increased by 24%. Over the period under review, import prices hit record highs in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+10.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform