Sweden: Silicone Market 2024

Silicone Market Size in Sweden

In 2021, after two years of decline, there was significant growth in the Swedish silicone market, when its value increased by 24% to $X. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Silicone Production in Sweden

In value terms, silicone production fell to $X in 2021 estimated in export price. Overall, production, however, enjoyed a strong expansion. The pace of growth appeared the most rapid in 2014 with an increase of 111% against the previous year. Silicone production peaked at $X in 2020, and then dropped in the following year.

Silicone Exports

Exports from Sweden

Silicone exports from Sweden surged to X tons in 2021, jumping by 45% compared with the previous year. The total export volume increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, silicone exports surged to $X in 2021. Overall, total exports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +26.5% against 2018 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 72%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Denmark (X tons), China (X tons) and Norway (X tons) were the main destinations of silicone exports from Sweden, together accounting for 72% of total exports. Finland, Italy, Germany, France and the United States lagged somewhat behind, together comprising a further 14%.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +21.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for silicones (in primary forms) exports from Sweden, comprising 54% of total exports. The second position in the ranking was taken by Denmark ($X), with an 8.9% share of total exports. It was followed by Norway, with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +8.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+7.2% per year) and Norway (+5.2% per year).

Export Prices by Country

In 2021, the average silicone export price amounted to $X per ton, shrinking by -13.2% against the previous year. Overall, export price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, silicone export price decreased by -23.1% against 2019 indices. The growth pace was the most rapid in 2014 an increase of 51% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Denmark ($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 the United States (+15.9%), while the prices for the other major destinations experienced more modest paces of growth.

Silicone Imports

Imports into Sweden

After two years of decline, overseas purchases of silicones (in primary forms) increased by 25% to X tons in 2021. Overall, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -2.5% against 2018 indices. The pace of growth appeared the most rapid in 2018 with an increase of 40% 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. In general, total imports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest silicone supplier to Sweden, accounting for a 59% share of total imports. Moreover, silicone imports from Germany exceeded the figures recorded by the second-largest supplier, France (X tons), sixfold. The UK (X tons) ranked third in terms of total imports with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+19.2% per year) and the UK (+20.2% per year).

In value terms, Germany ($X) constituted the largest supplier of silicones (in primary forms) to Sweden, comprising 46% of total imports. The second position in the ranking was taken by Belgium ($X), with a 14% share of total imports. It was followed by the Netherlands, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+0.8% per year) and the Netherlands (+5.1% per year).

Import Prices by Country

The average silicone import price stood at $X per ton in 2021, surging by 2.6% against the previous year. Over the period under review, the import price, however, saw a slight reduction. The most prominent rate of growth was recorded in 2016 when the average import price increased by 8.2% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices remained 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 Belgium ($X per ton), while the price for Germany ($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 (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :