Europe: Silicone Market 2024

Silicone Market Size in Europe

In 2023, the Europe silicone market decreased by X% to $X for the first time since 2019, thus ending a three-year rising trend. The total consumption indicated temperate growth 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 2018 indices. The level of consumption peaked at $X in 2022, and then shrank in the following year.

Silicone Production in Europe

In value terms, silicone production dropped to $X in 2023 estimated in export price. The total production indicated measured growth 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, production increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2022, and then reduced in the following year.

Silicone Exports

Exports in Europe

In 2023, shipments abroad of silicones (in primary forms) decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, silicone exports shrank rapidly to $X in 2023. Over the period under review, exports, however, showed noticeable growth. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2022, and then dropped rapidly in the following year.

Exports by Country

The shipments of the four major exporters of silicones (in primary forms), namely the UK, Belgium, the Netherlands and France, represented more than two-thirds of total export. It was distantly followed by Italy (X tons), creating a X% share of total exports. Spain (X tons) took a minor share 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 Italy (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest silicone supplying countries in Europe were the Netherlands ($X), Belgium ($X) and the UK ($X), together accounting for X% of total exports. France, Italy and Spain lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Italy, with a CAGR of X%, saw 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 Europe amounted to $X per ton, shrinking by X% against the previous year. Export price indicated a tangible increase from 2012 to 2023: its price 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, silicone export price increased by X% against 2015 indices. The pace of growth was the most pronounced in 2022 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the UK ($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 Europe

In 2023, overseas purchases of silicones (in primary forms) decreased by X% to X tons, falling for the second year in a row 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 most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, silicone imports contracted rapidly to $X in 2023. Total imports indicated notable 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. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2022, and then fell notably 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) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Italy (X%), France (X%), Spain (X%), the UK (X%) and Russia (X%). The following importers - Poland (X tons), the Czech Republic (X tons), Austria (X tons), Romania (X tons) and Ireland (X tons) - together made up X% of total imports.

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

In value terms, the largest silicone importing markets in Europe were the Netherlands ($X), Belgium ($X) and Germany ($X), with a combined X% share of total imports. Italy, France, the UK, Spain, Poland, Russia, Austria, Romania, the Czech Republic and Ireland lagged somewhat behind, together comprising a further X%.

Ireland, with a CAGR of X%, recorded 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 leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Europe amounted to $X per ton, dropping by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the UK ($X per ton), while Russia ($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