Eastern Europe: Silicone Market 2024

Silicone Market Size in Eastern Europe

In 2023, the East European silicone market increased by X% to $X, rising for the third consecutive year after two years of decline. Overall, consumption showed strong growth. The level of consumption peaked in 2023 and is expected to retain growth in the immediate term.

Silicone Production in Eastern Europe

In value terms, silicone production expanded slightly to $X in 2023 estimated in export price. Over the period under review, production recorded strong growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, production reached the peak level of $X. From 2019 to 2023, production growth remained at a lower figure.

Silicone Exports

Exports in Eastern Europe

In 2023, after three years of growth, there was significant decline in overseas shipments of silicones (in primary forms), when their volume decreased by X% to X tons. Overall, exports, however, showed a strong expansion. The growth pace was the most rapid in 2022 with an increase of X%. As a result, the exports attained the peak of X tons, and then declined dramatically in the following year.

In value terms, silicone exports dropped to $X in 2023. Total exports indicated a strong expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2022, and then fell in the following year.

Exports by Country

The Czech Republic (X tons) and Poland (X tons) represented roughly X% of total exports in 2023. It was distantly followed by Hungary (X tons), Russia (X tons), Latvia (X tons) and Bulgaria (X tons), together achieving a X% share of total exports. The following exporters - Estonia (X tons) and Lithuania (X tons) - together made up X% of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Latvia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Poland ($X) and Russia ($X) were the countries with the highest levels of exports in 2023, together accounting for X% of total exports. Latvia, Hungary, Bulgaria, Lithuania and Estonia lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Latvia, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Eastern Europe amounted to $X per ton, surging by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while Hungary ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Latvia (X%), while the other leaders experienced more modest paces of growth.

Silicone Imports

Imports in Eastern Europe

After two years of growth, overseas purchases of silicones (in primary forms) decreased by X% to X tons in 2023. Total imports indicated resilient growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X%. The volume of import peaked at X tons in 2022, and then shrank in the following year.

In value terms, silicone imports dropped to $X in 2023. In general, imports, however, posted a remarkable increase. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2022, and then fell in the following year.

Imports by Country

In 2023, Russia (X tons), distantly followed by Poland (X tons), the Czech Republic (X tons), Romania (X tons), Hungary (X tons) and Estonia (X tons) represented the largest importers of silicones (in primary forms), together constituting X% of total imports. Ukraine (X tons) took a minor share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Estonia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest silicone importing markets in Eastern Europe were Poland ($X), Russia ($X) and Romania ($X), with a combined X% share of total imports. The Czech Republic, Hungary, Ukraine and Estonia lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Hungary, 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 more modest paces of growth.

Import Prices by Country

In 2023, the import price in Eastern Europe amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The level of import peaked at $X per ton in 2021; however, from 2022 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Romania ($X per ton), while Estonia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Poland (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform