SADC: Silicone Market 2024

Silicone Market Size in SADC

In 2021, the SADC silicone market was finally on the rise to reach $X after two years of decline. In general, consumption posted a resilient increase. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Silicone Production in SADC

In value terms, silicone production surged to $X in 2021 estimated in export price. Overall, production continues to indicate strong growth. The growth pace was the most rapid in 2017 with an increase of 63%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Silicone Exports

Exports in SADC

In 2021, approx. X tons of silicones (in primary forms) were exported in SADC; jumping by 99% against the previous year's figure. Overall, exports enjoyed temperate growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, silicone exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

South Africa prevails in exports structure, accounting for X tons, which was near 96% of total exports in 2021. Namibia (X tons) followed a long way behind the leaders.

South Africa was also the fastest-growing in terms of the silicones (in primary forms) exports, with a CAGR of +4.9% from 2012 to 2021. Namibia (-9.2%) illustrated a downward trend over the same period. South Africa (+6.6 p.p.) significantly strengthened its position in terms of the total exports, while Namibia saw its share reduced by -6.5% from 2012 to 2021, respectively.

In value terms, South Africa ($X) remains the largest silicone supplier in SADC, comprising 96% of total exports. The second position in the ranking was taken by Namibia ($X), with a 1.9% share of total exports.

In South Africa, silicone exports remained relatively stable over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in SADC amounted to $X per ton, dropping by -22.7% against the previous year. Overall, the export price recorded a noticeable descent. The pace of growth appeared the most rapid in 2014 an increase of 70% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Namibia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (-3.8%).

Silicone Imports

Imports in SADC

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 16% to X tons. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2016 when imports increased by 20%. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, silicone imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 29% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

South Africa was the major importer of silicones (in primary forms) in SADC, with the volume of imports amounting to X tons, which was near 57% of total imports in 2021. Angola (X tons) ranks second in terms of the total imports with an 11% share, followed by Zambia (7.1%), Democratic Republic of the Congo (6.3%) and Tanzania (4.6%). The following importers - Zimbabwe (X tons) and Mozambique (X tons) - together made up 7.8% of total imports.

South Africa experienced a relatively flat trend pattern with regard to volume of imports of silicones (in primary forms). At the same time, Zimbabwe (+22.8%), Zambia (+11.6%), Tanzania (+6.9%) and Mozambique (+6.1%) displayed positive paces of growth. Moreover, Zimbabwe emerged as the fastest-growing importer imported in SADC, with a CAGR of +22.8% from 2012-2021. Angola experienced a relatively flat trend pattern. By contrast, Democratic Republic of the Congo (-1.5%) illustrated a downward trend over the same period. Zambia (+4.1 p.p.), Zimbabwe (+3.7 p.p.) and Tanzania (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Democratic Republic of the Congo and South Africa saw its share reduced by -1.9% and -8.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported silicones (in primary forms) in SADC, comprising 62% of total imports. The second position in the ranking was held by Angola ($X), with a 13% share of total imports. It was followed by Democratic Republic of the Congo, with a 5.7% share.

From 2012 to 2021, the average annual growth rate of value in South Africa was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Angola (-0.4% per year) and Democratic Republic of the Congo (+1.1% per year).

Import Prices by Country

In 2021, the import price in SADC amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the import price, however, continues to indicate a slight downturn. The pace of growth appeared the most rapid in 2018 when the import price increased by 15% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mozambique (+2.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform