Slovakia: Silicone Market 2024

Silicone Market Size in Slovakia

The Slovak silicone market was finally on the rise to reach $X in 2021, after two years of decline. In general, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.0% 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 -23.3% against 2018 indices. 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 Exports

Exports from Slovakia

In 2021, approx. X tons of silicones (in primary forms) were exported from Slovakia; with an increase of 57% against the year before. Overall, exports, however, continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 113%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, silicone exports skyrocketed to $X in 2021. In general, exports, however, saw a abrupt curtailment. The pace of growth was the most pronounced in 2016 with an increase of 119% against the previous year. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Hungary (X tons), the Czech Republic (X tons) and Poland (X tons) were the main destinations of silicone exports from Slovakia, together accounting for 78% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Czech Republic (with a CAGR of +2.6%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for silicone exported from Slovakia were the Czech Republic ($X), Hungary ($X) and Ukraine ($X), with a combined 61% share of total exports.

Among the main countries of destination, Ukraine, with a CAGR of +10.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average silicone export price amounted to $X per ton, rising by 21% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 50%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Hungary ($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 Belarus (+20.5%), while the prices for the other major destinations experienced more modest paces of growth.

Silicone Imports

Imports into Slovakia

In 2021, overseas purchases of silicones (in primary forms) were finally on the rise to reach X tons after two years of decline. In general, imports enjoyed noticeable growth. The pace of growth appeared the most rapid in 2018 with an increase of 72% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, silicone imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 25%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest silicone supplier to Slovakia, with a 54% share of total imports. Moreover, silicone imports from Germany exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), threefold. Austria (X tons) ranked third in terms of total imports with a 4.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+18.3% per year) and Austria (+2.9% per year).

In value terms, Germany ($X) constituted the largest supplier of silicones (in primary forms) to Slovakia, comprising 52% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with an 11% share of total imports. It was followed by the Netherlands, with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+16.8% per year) and the Netherlands (+43.0% per year).

Import Prices by Country

In 2021, the average silicone import price amounted to $X per ton, falling by -8.2% against the previous year. Overall, the import price continues to indicate a slight contraction. The most prominent rate of growth was recorded in 2019 an increase of 41% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the Czech Republic ($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 (+23.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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