Silicon Dioxide Market

The global silicon dioxide market is projected to see steady growth in both consumption and market value, with a forecasted CAGR of +3.1% and +7.1% respectively through 2030. China leads in both production and consumption, with emerging markets like India showing significant growth rates. The import and export dynamics indicate a positive trend, with countries like China, Germany, and the United States playing major roles in the global silicon dioxide trade. Overall, the market is expected to see continuous growth with fluctuations in certain years, presenting opportunities for key players in the industry.

Market Forecast

Driven by increasing demand for silicon dioxide worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.1% for the period from 2022 to 2030, which is projected to bring the market volume to 7.7M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +7.1% for the period from 2022 to 2030, which is projected to bring the market value to $17.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Silicon Dioxide

In 2022, approx. 6.1M tons of silicon dioxide were consumed worldwide; leveling off at 2021. The total consumption volume increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, global consumption reached the maximum volume at 6.5M tons in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

The global silicon dioxide market value rose modestly to $10.1B in 2022, picking up by 4.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $10.2B. From 2019 to 2022, the growth of the global market failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (1.2M tons), the United States (903K tons) and India (558K tons), with a combined 43% share of global consumption. Indonesia, Belgium, Brazil, Japan, Mexico, the UK, Spain, Vietnam, Canada and South Korea lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Belgium (with a CAGR of +28.4%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest silicon dioxide markets worldwide were the United States ($2B), China ($1.1B) and the UK ($489M), with a combined 36% share of the global market. India, Mexico, Belgium, Indonesia, Brazil, Japan, South Korea, Canada, Spain and Vietnam lagged somewhat behind, together comprising a further 29%.

Among the main consuming countries, Belgium, with a CAGR of +25.9%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of silicon dioxide per capita consumption was registered in Belgium (19 kg per person), followed by Canada (2.9 kg per person), the United States (2.7 kg per person) and Spain (2.5 kg per person), while the world average per capita consumption of silicon dioxide was estimated at 0.8 kg per person.

In Belgium, silicon dioxide per capita consumption increased at an average annual rate of +27.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Canada (+4.3% per year) and the United States (+5.5% per year).

Production

World Production of Silicon Dioxide

Global silicon dioxide production stood at 5.9M tons in 2022, remaining constant against the year before. The total output volume increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 14% against the previous year. Global production peaked at 6M tons in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

In value terms, silicon dioxide production reached $9.5B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 11% against the previous year. As a result, production reached the peak level of $10.3B. From 2019 to 2022, global production growth failed to regain momentum.

Production By Country

China (1.8M tons) remains the largest silicon dioxide producing country worldwide, accounting for 31% of total volume. Moreover, silicon dioxide production in China exceeded the figures recorded by the second-largest producer, the United States (839K tons), twofold. The third position in this ranking was held by India (526K tons), with an 8.9% share.

In China, silicon dioxide production expanded at an average annual rate of +4.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+4.5% per year) and India (+4.2% per year).

Imports

World Imports of Silicon Dioxide

In 2022, overseas purchases of silicon dioxide increased by 0.7% to 2.3M tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of 14% against the previous year. Global imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, silicon dioxide imports surged to $4.1B in 2022. The total import value increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 23% against the previous year. Over the period under review, global imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports By Country

In 2022, the United States (174K tons), Japan (163K tons), Vietnam (116K tons), India (111K tons), Germany (110K tons), the Netherlands (94K tons), China (94K tons), South Korea (91K tons), Indonesia (86K tons), France (78K tons), Poland (77K tons) and Mexico (71K tons) represented the main importer of silicon dioxide in the world, comprising 55% of total import. Thailand (68K tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by India (with a CAGR of +16.7%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($474M), China ($254M) and Germany ($238M) appeared to be the countries with the highest levels of imports in 2022, with a combined 24% share of global imports. France, Japan, South Korea, Mexico, Vietnam, Poland, the Netherlands, Thailand, India and Indonesia lagged somewhat behind, together comprising a further 34%.

Vietnam, with a CAGR of +14.1%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average silicon dioxide import price stood at $1,770 per ton in 2022, surging by 18% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. 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 2022, amid the top importers, the country with the highest price was the United States ($2,727 per ton), while India ($817 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Silicon Dioxide

In 2022, approx. 2.2M tons of silicon dioxide were exported worldwide; remaining constant against the year before. The total export volume increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 30%. As a result, the exports reached the peak of 2.2M tons, leveling off in the following year.

In value terms, silicon dioxide exports expanded sharply to $3.5B in 2022. Over the period under review, total exports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +44.7% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 33% against the previous year. The global exports peaked in 2022 and are likely to see steady growth in the near future.

Exports By Country

China represented the major exporting country with an export of about 761K tons, which amounted to 35% of total exports. Germany (207K tons) ranks second in terms of the total exports with a 9.6% share, followed by France (5.3%), the United States (5.1%) and Norway (4.8%). Taiwan (Chinese) (83K tons), Malaysia (82K tons), India (78K tons), Poland (74K tons), Thailand (61K tons), Belgium (58K tons), Spain (47K tons) and the Netherlands (47K tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to silicon dioxide exports from China stood at +7.3%. At the same time, India (+23.5%), Malaysia (+17.2%), Poland (+9.3%), Belgium (+5.9%) and Thailand (+3.8%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in the world, with a CAGR of +23.5% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, the United States (-1.0%), Germany (-1.4%), Norway (-2.3%), the Netherlands (-3.3%), Spain (-3.4%) and France (-15.9%) illustrated a downward trend over the same period. While the share of China (+9.7 p.p.), France (+5.3 p.p.), India (+3 p.p.) and Malaysia (+2.7 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Taiwan (Chinese) (-1.5 p.p.), the Netherlands (-2.2 p.p.), Spain (-2.3 p.p.), the United States (-3.2 p.p.), Norway (-4.1 p.p.) and Germany (-6.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest silicon dioxide supplying countries worldwide were China ($876M), Germany ($530M) and the United States ($268M), together comprising 48% of global exports. France, Belgium, Poland, Taiwan (Chinese), India, Thailand, Spain, Norway, the Netherlands and Malaysia lagged somewhat behind, together accounting for a further 28%.

In terms of the main exporting countries, Poland, with a CAGR of +27.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average silicon dioxide export price amounted to $1,623 per ton, growing by 9.3% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 22%. The global export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($3,298 per ton), while Malaysia ($416 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+25.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform