South-Eastern Asia: Silicone Market 2024

Silicone Market Size in South-Eastern Asia

The Southeast Asian silicone market reached $X in 2022, with an increase of X% against the previous year. The total consumption indicated a noticeable increase 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 increased by X% against 2020 indices. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Silicone Production in South-Eastern Asia

In value terms, silicone production reached $X in 2022 estimated in export price. The total production indicated pronounced growth 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, production decreased by X% against 2018 indices. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

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Silicone Exports

Exports in South-Eastern Asia

For the third year in a row, South-Eastern Asia recorded growth in overseas shipments of silicones (in primary forms), which increased by X% to X tons in 2022. Total exports indicated a pronounced increase 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, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

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

Exports by Country

Thailand was the largest exporter of silicones (in primary forms) in South-Eastern Asia, with the volume of exports recording X tons, which was approx. X% of total exports in 2022. Malaysia (X tons) held the second position in the ranking, distantly followed by Singapore (X tons), Vietnam (X tons) and Indonesia (X tons). All these countries together held approx. X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to silicone exports from Thailand stood at X%. At the same time, Vietnam (X%), Indonesia (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2022. Singapore experienced a relatively flat trend pattern. From 2012 to 2022, the share of Malaysia, Vietnam and Indonesia increased by X, X and X percentage points, respectively.

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

In Thailand, silicone exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Singapore (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. As a result, the export 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 suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Silicone Imports

Imports in South-Eastern Asia

In 2022, purchases abroad of silicones (in primary forms) increased by X% to X tons, rising for the second year in a row after three years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, silicone imports skyrocketed to $X in 2022. Total imports indicated a strong 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 most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Thailand (X tons), Malaysia (X tons), Singapore (X tons), Vietnam (X tons) and Indonesia (X tons) represented the major importer of silicones (in primary forms) in South-Eastern Asia, committing X% of total import. It was distantly followed by the Philippines (X tons), generating a X% share of total imports.

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

In value terms, Malaysia ($X), Vietnam ($X) and Thailand ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, 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 South-Eastern 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%. 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 destination: amid the top importers, the country with the highest price was Malaysia ($X per ton), while Singapore ($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