SADC: Silicone Market 2024

Silicone Market Size in SADC

The SADC silicone market contracted sharply to $X in 2023, with a decrease of X% against the previous year. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2023, consumption failed to regain momentum.

Silicone Production in SADC

In value terms, silicone production fell to $X in 2023 estimated in export price. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2023, production growth failed to regain momentum.

Silicone Exports

Exports in SADC

In 2023, approx. X tons of silicones (in primary forms) were exported in SADC; growing by X% compared with the previous year's figure. In general, exports enjoyed a slight expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, silicone exports reduced slightly to $X in 2023. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

South Africa dominates exports structure, recording X tons, which was approx. X% of total exports in 2023. Namibia (X tons) followed a long way behind the leaders.

South Africa was also the fastest-growing in terms of the silicones (in primary forms) exports, with a CAGR of X% from 2012 to 2023. Namibia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of South Africa increased by X percentage points.

In value terms, South Africa ($X) remains the largest silicone supplier in SADC, comprising X% of total exports. The second position in the ranking was taken by Namibia ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in South Africa was relatively modest.

Export Prices by Country

In 2023, the export price in SADC amounted to $X per ton, reducing by X% against the previous year. Overall, the export price showed a slight decrease. The pace of growth was the most pronounced in 2014 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2023, the export prices failed to regain momentum.

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 South Africa ($X per ton), while Namibia stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Africa (X%).

Silicone Imports

Imports in SADC

After two years of growth, purchases abroad of silicones (in primary forms) decreased by X% to X tons in 2023. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2022, and then dropped in the following year.

In value terms, silicone imports reduced rapidly to $X in 2023. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then contracted sharply in the following year.

Imports by Country

South Africa represented the key importer of silicones (in primary forms) in SADC, with the volume of imports amounting to X tons, which was near X% of total imports in 2023. Angola (X tons) held the second position in the ranking, followed by Zambia (X tons), Democratic Republic of the Congo (X tons), Zimbabwe (X tons) and Tanzania (X tons). All these countries together held near X% share of total imports. Namibia (X tons) took a relatively small share of total imports.

South Africa experienced a relatively flat trend pattern with regard to volume of imports of silicones (in primary forms). At the same time, Zimbabwe (X%), Zambia (X%), Tanzania (X%) and Namibia (X%) displayed positive paces of growth. Moreover, Zimbabwe emerged as the fastest-growing importer imported in SADC, with a CAGR of X% from 2012-2023. Angola and Democratic Republic of the Congo experienced a relatively flat trend pattern. From 2012 to 2023, the share of Zambia, Zimbabwe and Tanzania increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported silicones (in primary forms) in SADC, comprising X% of total imports. The second position in the ranking was taken by Angola ($X), with a X% share of total imports. It was followed by Democratic Republic of the Congo, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in South Africa was relatively modest. In the other countries, the average annual rates were as follows: Angola (X% per year) and Democratic Republic of the Congo (X% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2023, approximately reflecting the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

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 Angola ($X per ton), while Zambia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform