Portugal: Silicone Market 2024

Silicone Market Size in Portugal

In 2022, the Portuguese silicone market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption recorded a strong expansion. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in years to come.

Silicone Exports

Exports from Portugal

In 2022, overseas shipments of silicones (in primary forms) increased by X% to X tons, rising for the second year in a row after two years of decline. In general, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, silicone exports soared to $X in 2022. Overall, exports enjoyed strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X tons) was the main destination for silicone exports from Portugal, accounting for a X% share of total exports. Moreover, silicone exports to France exceeded the volume sent to the second major destination, Mexico (X tons), twofold. The third position in this ranking was held by Angola (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to France totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Angola (X% per year).

In value terms, France ($X) emerged as the key foreign market for silicones (in primary forms) exports from Portugal, comprising X% of total exports. The second position in the ranking was taken by Mexico ($X), with a X% share of total exports. It was followed by Angola, with a X% share.

From 2012 to 2022, the average annual growth rate of value to France stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Angola (X% per year).

Export Prices by Country

In 2022, the average silicone export price amounted to $X per ton, picking up by X% against the previous year. Overall, export price indicated a noticeable expansion from 2012 to 2022: its price 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, silicone export price increased by X% against 2016 indices. The growth pace was the most rapid in 2020 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Mozambique ($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 Canada (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Silicone Imports

Imports into Portugal

In 2022, overseas purchases of silicones (in primary forms) increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, total imports indicated a prominent expansion from 2012 to 2022: its volume 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 most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, silicone imports surged to $X in 2022. In general, imports showed resilient growth. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Spain (X tons) constituted the largest silicone supplier to Portugal, accounting for a X% share of total imports. Moreover, silicone imports from Spain exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. China (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Spain totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and China (X% per year).

In value terms, Spain ($X) constituted the largest supplier of silicones (in primary forms) to Portugal, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Spain totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and China (X% per year).

Import Prices by Country

The average silicone import price stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform