Romania: Silicone Market 2024

Silicone Market Size in Romania

The Romanian silicone market was finally on the rise to reach $X in 2021, after two years of decline. Overall, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -12.7% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Silicone Exports

Exports from Romania

In 2021, exports of silicones (in primary forms) from Romania surged to X tons, with an increase of 46% on 2020 figures. Over the period under review, exports enjoyed a significant expansion. The growth pace was the most rapid in 2013 with an increase of 144%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, silicone exports surged to $X in 2021. In general, exports saw a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 153% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for silicone exports from Romania, with a 45% share of total exports. Moreover, silicone exports to Germany exceeded the volume sent to the second major destination, Mexico (X tons), fivefold. The third position in this ranking was taken by China (X tons), with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany stood at +56.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+210.5% per year) and China (+98.3% per year).

In value terms, Germany ($X), China ($X) and South Africa ($X) constituted the largest markets for silicone exported from Romania worldwide, with a combined 62% share of total exports. These countries were followed by Mexico, Hungary, Italy, Poland, France, Israel, Moldova, the UK and Bulgaria, which together accounted for a further 28%.

Mexico, with a CAGR of +140.0%, 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

The average silicone export price stood at $X per ton in 2021, growing by 5.6% against the previous year. In general, the export price, however, continues to indicate a perceptible reduction. The pace of growth was the most pronounced in 2018 when the average export price increased by 35% against the previous year. Over the period under review, the average export prices attained the maximum 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 South Africa ($X per ton), while the average price for exports to Poland ($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 Bulgaria (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Silicone Imports

Imports into Romania

Silicone imports into Romania stood at X tons in 2021, with an increase of 9% compared with the year before. In general, imports showed a resilient expansion. The pace of growth was the most pronounced in 2017 when imports increased by 24%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, silicone imports surged to $X in 2021. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.7% 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 -12.2% against 2018 indices. The most prominent rate of growth was recorded in 2014 with an increase of 22% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Germany (X tons), Belgium (X tons) and the Netherlands (X tons) were the main suppliers of silicone imports to Romania, together comprising 76% of total imports. Italy, Japan, Spain, China, Austria, France, the UK and Poland lagged somewhat behind, together comprising a further 20%.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +25.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Belgium ($X) and the Netherlands ($X) constituted the largest silicone suppliers to Romania, with a combined 73% share of total imports. Japan, Italy, Spain, France, the UK, China, Austria and Poland lagged somewhat behind, together comprising a further 21%.

In terms of the main suppliers, China, with a CAGR of +28.9%, recorded the highest growth rate of 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

The average silicone import price stood at $X per ton in 2021, increasing by 8.6% against the previous year. Over the period under review, the import price, however, saw a slight curtailment. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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