Spain: Silicone Market 2024

Silicone Market Size in Spain

The Spanish silicone market surged to $X in 2021, with an increase of 37% against the previous year. The market value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Silicone Production in Spain

In value terms, silicone production surged to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Silicone Exports

Exports from Spain

In 2021, the amount of silicones (in primary forms) exported from Spain surged to X tons, jumping by 27% compared with 2020 figures. Over the period under review, total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +38.3% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, silicone exports skyrocketed to $X in 2021. In general, total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +16.9% against 2018 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Portugal (X tons), France (X tons) and Italy (X tons) were the main destinations of silicone exports from Spain, together comprising 40% of total exports. The United States, Germany, Colombia, Mexico, Brazil, China, Poland, the Netherlands, Morocco and Turkey lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +19.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for silicone exported from Spain were Portugal ($X), France ($X) and Italy ($X), with a combined 40% share of total exports. Germany, the United States, Mexico, China, Colombia, Poland, Turkey, Brazil, the Netherlands and Morocco lagged somewhat behind, together comprising a further 39%.

Poland, with a CAGR of +27.4%, recorded the highest rates of growth with regard to 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

In 2021, the average silicone export price amounted to $X per ton, increasing by 9% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 16% against the previous year. Over the period under review, the average export prices attained the peak figure 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 Turkey ($X per ton), while the average price for exports to Brazil ($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 (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Silicone Imports

Imports into Spain

In 2021, approx. X tons of silicones (in primary forms) were imported into Spain; surging by 20% against 2020. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 21%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, silicone imports soared to $X in 2021. Over the period under review, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

France (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of silicone imports to Spain, together accounting for 73% of total imports. Belgium, China, Italy and the UK lagged somewhat behind, together comprising a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +7.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest silicone suppliers to Spain were Germany ($X), France ($X) and the Netherlands ($X), with a combined 70% share of total imports. These countries were followed by Belgium, China, Italy and the UK, which together accounted for a further 23%.

China, with a CAGR of +16.2%, saw the highest growth rate of the value of imports, in terms of the main suppliers 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, surging by 15% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +5.2%. The pace of growth was the most pronounced in 2013 an increase of 50% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 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 Netherlands ($X per ton), while the price for France ($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 Netherlands (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :