Greece: Silica Sand Market 2024

Silica Sand Market Size in Greece

The Greek silica sand market skyrocketed to $X in 2022, rising by 60% against the previous year. Over the period under review, consumption posted a prominent expansion. Silica sand consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Silica Sand Production in Greece

In value terms, silica sand production skyrocketed to $X in 2022 estimated in export price. In general, production enjoyed temperate growth. The growth pace was the most rapid in 2020 with an increase of 176% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Silica Sand Exports

Exports from Greece

For the third year in a row, Greece recorded growth in shipments abroad of silica sands (quartz sands or industrial sands), which increased by 52% to X tons in 2022. In general, exports, however, showed a deep slump. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, silica sand exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a deep setback. The pace of growth was the most pronounced in 2018 with an increase of 69%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Cyprus (X tons) was the main destination for silica sand exports from Greece, accounting for a 54% share of total exports. Moreover, silica sand exports to Cyprus exceeded the volume sent to the second major destination, Bulgaria (X tons), fourfold. The third position in this ranking was held by Albania (X tons), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to Cyprus stood at -4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+4.9% per year) and Albania (-25.0% per year).

In value terms, Cyprus ($X) remains the key foreign market for silica sands (quartz sands or industrial sands) exports from Greece, comprising 58% of total exports. The second position in the ranking was taken by Albania ($X), with a 13% share of total exports. It was followed by Panama, with a 9% share.

From 2012 to 2022, the average annual growth rate of value to Cyprus totaled +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (-12.9% per year) and Panama (+46.2% per year).

Export Prices by Country

In 2022, the average silica sand export price amounted to $X per ton, with a decrease of -11.3% against the previous year. Over the period under review, the export price, however, showed a resilient expansion. The pace of growth was the most pronounced in 2016 when the average export price increased by 76% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Algeria (+41.7%), while the prices for the other major destinations experienced more modest paces of growth.

Silica Sand Imports

Imports into Greece

In 2022, supplies from abroad of silica sands (quartz sands or industrial sands) increased by 19% to X tons, rising for the third year in a row after three years of decline. In general, imports continue to indicate a relatively flat trend pattern. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, silica sand imports soared to $X in 2022. Overall, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +8.3% 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 +78.8% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Portugal (X tons) constituted the largest supplier of silica sand to Greece, accounting for a 69% share of total imports. Moreover, silica sand imports from Portugal exceeded the figures recorded by the second-largest supplier, Egypt (X tons), sevenfold. The third position in this ranking was taken by Spain (X tons), with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Portugal totaled +28.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (-19.6% per year) and Spain (+55.2% per year).

In value terms, Portugal ($X) constituted the largest supplier of silica sands (quartz sands or industrial sands) to Greece, comprising 53% of total imports. The second position in the ranking was held by Egypt ($X), with a 13% share of total imports. It was followed by Belgium, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Portugal stood at +44.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (-8.8% per year) and Belgium (+12.2% per year).

Import Prices by Country

In 2022, the average silica sand import price amounted to $X per ton, increasing by 12% against the previous year. In general, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +7.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, silica sand import price increased by +25.3% against 2017 indices. The pace of growth was the most pronounced in 2017 an increase of 32% against the previous year. The import price peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+13.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :