MERCOSUR: Silicone Market 2024

Silicone Market Size in MERCOSUR

In 2023, the MERCOSUR silicone market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Over the period under review, consumption, however, continues to indicate a buoyant increase. Over the period under review, the market hit record highs at $X in 2022, and then contracted in the following year.

Silicone Production in MERCOSUR

In value terms, silicone production declined slightly to $X in 2023 estimated in export price. Overall, production saw a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The level of production peaked at $X in 2022, and then contracted modestly in the following year.

Silicone Exports

Exports in MERCOSUR

In 2023, overseas shipments of silicones (in primary forms) increased by X% to X tons, rising for the seventh year in a row after three years of decline. Over the period under review, exports posted a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The volume of export peaked in 2023 and is likely to continue growth in the immediate term.

In value terms, silicone exports totaled $X in 2023. In general, exports saw a buoyant increase. The pace of growth appeared the most rapid in 2022 when exports increased by X%. The level of export peaked in 2023 and is expected to retain growth in years to come.

Exports by Country

Brazil prevails in exports structure, recording X tons, which was approx. X% of total exports in 2023. The following exporters - Chile (X tons), Peru (X tons) and Paraguay (X tons) - together made up X% of total exports.

From 2012 to 2023, average annual rates of growth with regard to silicone exports from Brazil stood at X%. At the same time, Paraguay (X%), Chile (X%) and Peru (X%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Chile and Paraguay increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest silicone supplier in MERCOSUR, comprising X% of total exports. The second position in the ranking was held by Chile ($X), with a X% share of total exports. It was followed by Peru, with a X% share.

In Brazil, silicone exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Chile (X% per year) and Peru (X% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2023, reducing by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then contracted slightly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced mixed trends in the export price figures.

Silicone Imports

Imports in MERCOSUR

In 2023, after three years of growth, there was significant decline in supplies from abroad of silicones (in primary forms), when their volume decreased by X% to X tons. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2022, and then contracted in the following year.

In value terms, silicone imports fell rapidly to $X in 2023. Total imports indicated a moderate increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2022, and then dropped notably in the following year.

Imports by Country

Brazil was the key importing country with an import of around X tons, which recorded X% of total imports. It was distantly followed by Colombia (X tons), Argentina (X tons), Chile (X tons) and Peru (X tons), together creating a X% share of total imports. Ecuador (X tons) followed a long way behind the leaders.

Brazil experienced a relatively flat trend pattern with regard to volume of imports of silicones (in primary forms). At the same time, Ecuador (X%), Colombia (X%) and Chile (X%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of X% from 2012-2023. Argentina and Peru experienced a relatively flat trend pattern. While the share of Colombia (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Brazil (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported silicones (in primary forms) in MERCOSUR, comprising X% of total imports. The second position in the ranking was taken by Colombia ($X), with a X% share of total imports. It was followed by Argentina, with a X% share.

In Brazil, silicone imports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Colombia (X% per year) and Argentina (X% per year).

Import Prices by Country

In 2023, the import price in MERCOSUR amounted to $X per ton, dropping by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2022 an increase of X%. As a result, import price attained the peak level of $X per ton, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Colombia ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform