Asia: Silicone Market 2024

Silicone Market Size in Asia

The Asian silicone market shrank modestly to $X in 2022, waning by X% against the previous year. The total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Silicone Production in Asia

In value terms, silicone production reduced to $X in 2022 estimated in export price. In general, production enjoyed resilient growth. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

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Silicone Exports

Exports in Asia

In 2022, the amount of silicones (in primary forms) exported in Asia reached X tons, with an increase of X% against the previous year's figure. Overall, exports saw a resilient increase. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, silicone exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

China represented the key exporting country with an export of around X tons, which resulted at X% of total exports. Japan (X tons) took an X% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (X%) and South Korea (X%). The following exporters - Malaysia (X tons), India (X tons) and Singapore (X tons) - together made up X% of total exports.

China was also the fastest-growing in terms of the silicones (in primary forms) exports, with a CAGR of X% from 2012 to 2022. At the same time, Malaysia (X%), India (X%) and Thailand (X%) displayed positive paces of growth. Japan and Singapore experienced a relatively flat trend pattern. By contrast, South Korea (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the total exports, while Singapore, Thailand, South Korea and Japan saw its share reduced by X%, X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest silicone supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China stood at X%. In the other countries, the average annual rates were as follows: Japan (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, rising by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

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

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

Silicone Imports

Imports in Asia

Silicone imports declined modestly to X tons in 2022, dropping by X% compared with 2021. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, imports reached the peak of X tons, and then contracted modestly in the following year.

In value terms, silicone imports rose significantly to $X in 2022. Total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in years to come.

Imports by Country

The purchases of the three major importers of silicones (in primary forms), namely South Korea, China and India, represented more than third of total import. Turkey (X tons) ranks next in terms of the total imports with a X% share, followed by Thailand (X%) and Malaysia (X%). Japan (X tons), Singapore (X tons), Vietnam (X tons), Taiwan (Chinese) (X tons), Indonesia (X tons), the United Arab Emirates (X tons) and Pakistan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and India ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Malaysia, Turkey, Vietnam, Thailand, Japan, Taiwan (Chinese), Indonesia, Singapore, the United Arab Emirates and Pakistan lagged somewhat behind, together accounting for a further X%.

The United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to 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 2022, the import price in Asia amounted to $X per ton, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

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

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

Source: IndexBox Platform