EU: Silicone Market 2024

Silicone Market Size in the EU

In 2023, the EU silicone market decreased by X% to $X for the first time since 2019, thus ending a three-year rising trend. The total consumption indicated a notable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2019 indices. The level of consumption peaked at $X in 2022, and then contracted in the following year.

Silicone Production in the EU

In value terms, silicone production dropped to $X in 2023 estimated in export price. The total production indicated tangible growth 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, production increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of production peaked at $X in 2022, and then shrank in the following year.

Silicone Exports

Exports in the EU

In 2023, shipments abroad of silicones (in primary forms) decreased by X% to X tons, falling for the second year in a row after three years of growth. Over the period under review, exports, however, continue to indicate a slight increase. The pace of growth was the most pronounced in 2020 with an increase of X%. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, silicone exports dropped to $X in 2023. Overall, exports, however, recorded tangible growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then fell in the following year.

Exports by Country

The shipments of the three major exporters of silicones (in primary forms), namely Belgium, the Netherlands and France, represented more than two-thirds of total export. Italy (X tons) took the next position in the ranking, followed by Spain (X tons). All these countries together took approx. X% share of total exports. The following exporters - the Czech Republic (X tons) and Poland (X tons) - each amounted to a X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Poland (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Belgium ($X) and France ($X) constituted the countries with the highest levels of exports in 2023, together accounting for X% of total exports. Italy, Spain, the Czech Republic and Poland lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Poland, with a CAGR of X%, recorded the highest rates of growth with regard to 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 the European Union amounted to $X per ton, remaining constant against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The growth pace was the most rapid in 2022 when the export price increased by X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Spain ($X per ton) was amongst the lowest.

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

Silicone Imports

Imports in the EU

In 2023, supplies from abroad of silicones (in primary forms) decreased by X% to X tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, silicone imports fell markedly to $X in 2023. Total imports indicated a measured expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 declined sharply in the following year.

Imports by Country

Belgium (X tons) and the Netherlands (X tons) represented roughly X% of total imports in 2023. Germany (X tons) ranks next in terms of the total imports with a X% share, followed by Italy (X%), France (X%) and Spain (X%). The following importers - Poland (X tons), the Czech Republic (X tons), Austria (X tons), Romania (X tons), Ireland (X tons), Sweden (X tons) and Portugal (X tons) - together made up X% 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 Ireland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Belgium ($X) and Germany ($X) appeared to be the countries with the highest levels of imports in 2023, together accounting for X% of total imports. Italy, France, Spain, Poland, Austria, Romania, the Czech Republic, Sweden, Portugal and Ireland lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Ireland, with a CAGR of X%, saw 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

The import price in the European Union stood at $X per ton in 2023, which is down by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 when the import price increased by X%. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was France ($X per ton), while the Czech Republic ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform