Southern Asia: Silicone Market 2024

Silicone Market Size in Southern Asia

The South Asian silicone market amounted to $X in 2021, picking up by 4.1% against the previous year. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.8% 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 increased by +96.7% against 2012 indices. The level of consumption peaked in 2021 and is expected to retain growth in the immediate term.

Silicone Production in Southern Asia

In value terms, silicone production rose modestly to $X in 2021 estimated in export price. The total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.9% against 2019 indices. The pace of growth appeared the most rapid in 2018 with an increase of 24% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Silicone Exports

Exports in Southern Asia

In 2021, the amount of silicones (in primary forms) exported in Southern Asia expanded rapidly to X tons, with an increase of 9.1% on the previous year's figure. Total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -17.0% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 42% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, silicone exports soared to $X in 2021. Total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded 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 shipments of the one major exporters of silicones (in primary forms), namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the silicones (in primary forms) exports, with a CAGR of +6.6% from 2012 to 2021. While the share of India (+1.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest silicone supplier in Southern Asia.

In India, silicone exports increased at an average annual rate of +9.1% over the period from 2012-2021.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, with an increase of 31% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +2.3% per year.

Silicone Imports

Imports in Southern Asia

In 2021, supplies from abroad of silicones (in primary forms) was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -3.4% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 16%. 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 soared to $X in 2021. Over the period under review, imports enjoyed strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, India (X tons) represented the key importer of silicones (in primary forms), committing 74% of total imports. Pakistan (X tons) held the second position in the ranking, distantly followed by Bangladesh (X tons). All these countries together took approx. 24% share of total imports. Sri Lanka (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to silicone imports into India stood at +7.3%. At the same time, Sri Lanka (+14.1%), Pakistan (+8.9%) and Bangladesh (+6.6%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +14.1% from 2012-2021. Pakistan (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while India saw its share reduced by -1.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported silicones (in primary forms) in Southern Asia, comprising 77% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 14% share of total imports. It was followed by Bangladesh, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value in India amounted to +8.4%. In the other countries, the average annual rates were as follows: Pakistan (+9.1% per year) and Bangladesh (+6.6% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, picking up by 27% against the previous year. Over the period under review, the import price saw a modest increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Sri Lanka ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (+2.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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