United Kingdom: Silicone Market 2024

Silicone Market Size in the UK

The UK silicone market soared to $X in 2021, jumping by 24% against the previous year. Over the period under review, consumption continues to indicate buoyant growth. Silicone consumption peaked in 2021 and is likely to continue growth in the near future.

Silicone Production in the UK

In value terms, silicone production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when the production volume increased by 26% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Silicone Exports

Exports from the UK

For the third year in a row, the UK recorded decline in overseas shipments of silicones (in primary forms), which decreased by -14.4% to X tons in 2021. Over the period under review, exports recorded a noticeable decline. The most prominent rate of growth was recorded in 2013 when exports increased by 11%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, silicone exports totaled $X in 2021. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 24%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Belgium (X tons) was the main destination for silicone exports from the UK, with a 61% share of total exports. Moreover, silicone exports to Belgium exceeded the volume sent to the second major destination, Germany (X tons), fivefold. The Netherlands (X tons) ranked third in terms of total exports with a 7.2% share.

From 2012 to 2021, the average annual growth rate of volume to Belgium totaled +1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+0.8% per year) and the Netherlands (-1.9% per year).

In value terms, Belgium ($X) remains the key foreign market for silicones (in primary forms) exports from the UK, comprising 44% of total exports. The second position in the ranking was taken by Germany ($X), with a 13% share of total exports. It was followed by the Netherlands, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value to Belgium was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+3.3% per year) and the Netherlands (+3.7% per year).

Export Prices by Country

The average silicone export price stood at $X per ton in 2021, growing by 20% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2018 when the average export price increased by 21% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Japan ($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 Brazil (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Silicone Imports

Imports into the UK

In 2021, imports of silicones (in primary forms) into the UK expanded remarkably to X tons, surging by 5.8% compared with the previous year's figure. The total import volume increased at an average annual rate of +4.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 17% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, silicone imports surged to $X in 2021. The total import value increased at an average annual rate of +4.4% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), France (X tons) and the Netherlands (X tons) were the main suppliers of silicone imports to the UK, together comprising 61% of total imports. The United States, Belgium, China, Italy and South Korea lagged somewhat behind, together comprising a further 34%.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +31.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest silicone suppliers to the UK were Germany ($X), the United States ($X) and France ($X), with a combined 61% share of total imports. The Netherlands, Belgium, Italy, China and South Korea lagged somewhat behind, together accounting for a further 32%.

China, with a CAGR of +28.8%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average silicone import price stood at $X per ton in 2021, surging by 15% against the previous year. In general, the import price saw a relatively flat trend pattern. The import price peaked at $X per ton in 2019; however, from 2020 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 ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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