Venezuela: Silicon Market 2024

Silicon Market Size in Venezuela

In 2022, the Venezuelan silicon market was finally on the rise to reach $X after five years of decline. Over the period under review, consumption, however, showed a abrupt decline. Silicon consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Silicon Production in Venezuela

In value terms, silicon production stood at $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume decreased by X% against the previous year. Silicon production peaked in 2022 and is expected to retain growth in the near future.

Silicon Exports

Exports from Venezuela

In 2022, shipments abroad of silicon decreased by X% to X tons, falling for the ninth consecutive year after two years of growth. Over the period under review, exports faced a abrupt descent. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, silicon exports fell modestly to $X in 2022. Overall, exports, however, recorded temperate growth. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Mexico (X tons) was the main destination for silicon exports from Venezuela, with a X% share of total exports. Moreover, silicon exports to Mexico exceeded the volume sent to the second major destination, the United States (X kg), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Mexico amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Colombia (X% per year).

In value terms, Colombia ($X) remains the key foreign market for silicon exports from Venezuela, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Colombia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Mexico (X% per year).

Export Prices by Country

In 2022, the average silicon export price amounted to $X per ton, with an increase of X% against the previous year. In general, the export price recorded a significant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Silicon Imports

Imports into Venezuela

After five years of decline, purchases abroad of silicon increased by X% to X tons in 2022. Over the period under review, imports, however, continue to indicate a deep reduction. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, silicon imports surged to $X in 2022. In general, imports, however, recorded a abrupt slump. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest silicon supplier to Venezuela, accounting for a X% share of total imports. Moreover, silicon imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), eightfold. The third position in this ranking was held by Brazil (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Brazil (X% per year).

In value terms, the largest silicon suppliers to Venezuela were China ($X), Germany ($X) and the Netherlands ($X), together accounting for X% of total imports.

Among the main suppliers, Germany, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average silicon import price amounted to $X per ton, dropping by X% against the previous year. Overall, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, silicon import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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