China - Silicones (In Primary Forms) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSilicone Price in China - 2023
Contents:
- Silicone Price in China (FOB) - 2023
- Silicone Price in China (CIF) - 2023
- Silicone Exports in China
- Silicone Imports in China
Silicone Price in China (FOB) - 2023
The average silicone export price stood at $3,215 per ton in June 2023, approximately equating the previous month. In general, the export price continues to indicate a pronounced decrease. The growth pace was the most rapid in February 2023 when the average export price increased by 6.1% against the previous month. Over the period under review, the average export prices hit record highs at $4,657 per ton in June 2022; however, from July 2022 to June 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In June 2023, the country with the highest price was Japan ($6,085 per ton), while the average price for exports to the United Arab Emirates ($2,157 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+2.8%), while the prices for the other major destinations experienced a decline.
Silicone Price in China (CIF) - 2023
The average silicone import price stood at $7,607 per ton in June 2023, with an increase of 3.9% against the previous month. Over the period under review, the import price, however, continues to indicate a perceptible slump. The pace of growth appeared the most rapid in April 2023 when the average import price increased by 13% month-to-month. Over the period under review, average import prices hit record highs at $10,134 per ton in October 2022; however, from November 2022 to June 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Japan ($12,764 per ton), while the price for Vietnam ($1,204 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Indonesia (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Silicone Exports in China
In 2022, approx. 453K tons of silicones (in primary forms) were exported from China; increasing by 21% compared with the previous year. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 55%. The exports peaked in 2022 and are likely to continue growth in the near future.
In value terms, silicone exports skyrocketed to $2B in 2022. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 119% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.
Export of Silicone in China (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
South Korea | 89.1 | 113 | 305 | 300 | 49.9% |
United States | 71.2 | 69.4 | 144 | 253 | 52.6% |
India | 73.2 | 61.2 | 107 | 164 | 30.9% |
Vietnam | 42.3 | 49.1 | 91.6 | 107 | 36.3% |
Russia | 23.5 | 18.1 | 46.9 | 82.9 | 52.2% |
Turkey | 27.6 | 28.5 | 77.8 | 76.3 | 40.3% |
Netherlands | 21.6 | 15.7 | 63.9 | 70.8 | 48.5% |
Thailand | 36.0 | 35.5 | 54.3 | 65.0 | 21.8% |
Italy | 16.3 | 8.7 | 29.6 | 60.7 | 55.0% |
Brazil | 16.1 | 17.6 | 32.8 | 54.8 | 50.4% |
Japan | 34.3 | 29.5 | 42.7 | 54.6 | 16.8% |
United Arab Emirates | 16.4 | 17.5 | 44.6 | 53.5 | 48.3% |
Belgium | 13.2 | 9.3 | 36.4 | 51.2 | 57.1% |
Others | 274 | 250 | 508 | 654 | 33.6% |
Total | 755 | 723 | 1,585 | 2,049 | 39.5% |
Top Export Markets for Silicone from China in 2022:
- South Korea (76.5K tons)
- United States (53.4K tons)
- India (41.0K tons)
- Vietnam (22.2K tons)
- Turkey (19.5K tons)
- Russia (18.5K tons)
- United Arab Emirates (14.9K tons)
- Netherlands (14.8K tons)
- Brazil (14.1K tons)
- Thailand (12.7K tons)
- Italy (12.2K tons)
- Japan (10.9K tons)
- Belgium (10.7K tons)
Silicone Imports in China
In 2022, overseas purchases of silicones (in primary forms) decreased by -25.5% to 98K tons, falling for the second consecutive year after two years of growth. Over the period under review, imports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 13% against the previous year. As a result, imports reached the peak of 148K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, silicone imports amounted to $914M in 2022. The total import value increased at an average annual rate of +4.6% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 with an increase of 15%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.
Import of Silicone in China (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Japan | 172 | 153 | 199 | 203 | 5.7% |
Germany | 172 | 174 | 174 | 201 | 5.3% |
United States | 156 | 150 | 176 | 196 | 7.9% |
South Korea | 60.8 | 53.8 | 75.9 | 68.7 | 4.2% |
Thailand | 83.6 | 81.3 | 76.6 | 59.3 | -10.8% |
France | 23.8 | 20.5 | 30.6 | 31.3 | 9.6% |
Vietnam | 18.0 | 23.8 | 33.8 | 23.2 | 8.8% |
Indonesia | 8.3 | 7.8 | 5.1 | 7.0 | -5.5% |
Others | 105 | 126 | 134 | 125 | 6.0% |
Total | 800 | 789 | 905 | 914 | 4.5% |
Top Suppliers of Silicone to China in 2022:
- Germany (18.6K tons)
- United States (17.4K tons)
- Japan (16.3K tons)
- Thailand (12.2K tons)
- Vietnam (8.9K tons)
- South Korea (6.4K tons)
- France (4.7K tons)
- Indonesia (3.3K tons)
This report provides an in-depth analysis of the silicone market in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20165700 - Silicones, in primary forms
Country coverage:
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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Silicone exports reached a peak of 454K tons in 2022 before declining the next year. The value of silicone exports also saw a significant drop to $1.2B in 2023.
In June 2023, the price of Silicone remained unchanged at $3,215 per ton (FOB, China), maintaining the previous month's level.
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