Northern America: Silicone Market 2024

Silicone Market Size in Northern America

The North American silicone market stood at $X in 2021, increasing by 3.7% against the previous year. In general, consumption enjoyed a buoyant expansion. The level of consumption peaked in 2021 and is likely to continue growth in the immediate term.

Silicone Production in Northern America

In value terms, silicone production rose to $X in 2021 estimated in export price. In general, production, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by 27% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; afterwards, it flattened through to 2021.

Silicone Exports

Exports in Northern America

In 2021, silicone exports in Northern America amounted to X tons, surging by 12% against the previous year's figure. The total export volume increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor 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.

In value terms, silicone exports surged to $X in 2021. The total export value increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States dominates exports structure, reaching X tons, which was approx. 91% of total exports in 2021. It was distantly followed by Canada (X tons), creating a 9.1% share of total exports.

The United States experienced a relatively flat trend pattern with regard to volume of exports of silicones (in primary forms). At the same time, Canada (+8.9%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +8.9% from 2012-2021. From 2012 to 2021, the share of Canada increased by +4.3 percentage points.

In value terms, the United States ($X) remains the largest silicone supplier in Northern America, comprising 91% of total exports. The second position in the ranking was held by Canada ($X), with an 8.6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States amounted to +1.4%.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, with an increase of 11% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The level of export peaked at $X per ton in 2018; afterwards, it flattened through to 2021.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+0.5%).

Silicone Imports

Imports in Northern America

In 2021, the amount of silicones (in primary forms) imported in Northern America surged to X tons, with an increase of 24% on the year before. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +13.1% against 2018 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 31%. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, silicone imports surged to $X in 2021. Total imports indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 29%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United States represented the largest importing country with an import of about X tons, which finished at 82% of total imports. It was distantly followed by Canada (X tons), making up an 18% share of total imports.

Imports into the United States increased at an average annual rate of +5.9% from 2012 to 2021. At the same time, Canada (+6.6%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +6.6% from 2012-2021. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported silicones (in primary forms) in Northern America, comprising 81% of total imports. The second position in the ranking was taken by Canada ($X), with a 19% share of total imports.

In the United States, silicone imports increased at an average annual rate of +4.2% over the period from 2012-2021.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2021, surging by 3.3% against the previous year. Overall, the import price, however, showed a slight decline. The pace of growth appeared the most rapid in 2015 an increase of 11%. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-1.6%).

Source: IndexBox Platform

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