South Africa: Silicone Market 2024

Silicone Market Size in South Africa

In 2021, the South African silicone market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, recorded a slight downturn. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Silicone Exports

Exports from South Africa

In 2021, the amount of silicones (in primary forms) exported from South Africa soared to X tons, growing by 97% compared with the year before. In general, exports posted a pronounced increase. 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. Overall, exports showed a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Zimbabwe (X tons), Namibia (X tons) and Indonesia (X tons) were the main destinations of silicone exports from South Africa, together comprising 53% of total exports. Zambia, Botswana, Turkey, Swaziland, Lesotho, Democratic Republic of the Congo, Mozambique, Angola, Kenya and Malawi lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +53.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Namibia ($X), Zimbabwe ($X) and Zambia ($X) were the largest markets for silicone exported from South Africa worldwide, with a combined 49% share of total exports. These countries were followed by Botswana, Turkey, Swaziland, Democratic Republic of the Congo, Mozambique, Indonesia, Lesotho, Kenya, Malawi and Angola, which together accounted for a further 41%.

Among the main countries of destination, Turkey, with a CAGR of +84.0%, 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 more modest paces of growth.

Export Prices by Country

The average silicone export price stood at $X per ton in 2021, falling by -21.8% against the previous year. Over the period under review, the export price showed a pronounced decline. The growth pace was the most rapid in 2017 when the average export price increased by 17%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Indonesia ($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 Turkey (+20.2%), while the prices for the other major destinations experienced more modest paces of growth.

Silicone Imports

Imports into South Africa

After two years of decline, purchases abroad of silicones (in primary forms) increased by 21% to X tons in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, silicone imports surged to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 33% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of silicone imports to South Africa, together comprising 59% of total imports. India, the UK, Belgium, Malaysia, the United States and Turkey lagged somewhat behind, together comprising a further 36%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +18.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and the United States ($X) appeared to be the largest silicone suppliers to South Africa, with a combined 64% share of total imports. These countries were followed by the Netherlands, Belgium, the UK, India, Malaysia and Turkey, which together accounted for a further 28%.

In terms of the main suppliers, India, with a CAGR of +18.7%, 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

In 2021, the average silicone import price amounted to $X per ton, with an increase of 8.2% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 17% against the previous year. 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 the United States ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+15.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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