Silicates Market

The global silicates market is projected to experience an upward consumption trend over the next eight years, with the market volume forecasted to reach 19M tons and the market value to hit $14.9B by 2030. The article provides a detailed analysis of consumption, production, import, and export trends by key countries such as China, the United States, India, Germany, and the United Arab Emirates. Consumption patterns, growth rates, and price trends are also outlined, offering valuable insights for stakeholders in the silicates market.

Market Forecast

Driven by rising demand for silicates worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.6% for the period from 2022 to 2030, which is projected to bring the market volume to 19M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.7% for the period from 2022 to 2030, which is projected to bring the market value to $14.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Silicates, Commercial Alkali Metal Silicates

Global silicates consumption was estimated at 18M tons in 2022, approximately equating 2021 figures. Over the period under review, consumption, however, saw a mild curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 6.5% against the previous year. Global consumption peaked at 21M tons in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

The global silicates market value was estimated at $12B in 2022, with an increase of 3.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $20.4B. From 2016 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

China (4.4M tons) constituted the country with the largest volume of silicates consumption, comprising approx. 24% of total volume. Moreover, silicates consumption in China exceeded the figures recorded by the second-largest consumer, the United States (1.4M tons), threefold. India (1.3M tons) ranked third in terms of total consumption with a 6.9% share.

In China, silicates consumption decreased by an average annual rate of -3.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (-2.6% per year) and India (-2.7% per year).

In value terms, the United States ($2B), Japan ($1.5B) and China ($1.4B) constituted the countries with the highest levels of market value in 2022, with a combined 41% share of the global market. The UK, India, South Korea, Brazil, Germany, Russia, Turkey, Mexico, Indonesia and the United Arab Emirates lagged somewhat behind, together accounting for a further 29%.

In terms of the main consuming countries, the United Arab Emirates, with a CAGR of +25.6%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of silicates per capita consumption was registered in the United Arab Emirates (43 kg per person), followed by Germany (9.1 kg per person), South Korea (7.7 kg per person) and the UK (6.3 kg per person), while the world average per capita consumption of silicates was estimated at 2.3 kg per person.

In the United Arab Emirates, silicates per capita consumption expanded at an average annual rate of +28.3% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Germany (-0.2% per year) and South Korea (+2.6% per year).

Production

World Production of Silicates, Commercial Alkali Metal Silicates

In 2022, the amount of silicates, commercial alkali metal silicates produced worldwide rose to 18M tons, increasing by 1.8% compared with the previous year. Overall, production, however, showed a slight shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 6.5%. Over the period under review, global production hit record highs at 21M tons in 2012; however, from 2013 to 2022, production remained at a lower figure.

In value terms, silicates production rose modestly to $11.7B in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 12%. Global production peaked at $12.2B in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Production By Country

The country with the largest volume of silicates production was China (4.8M tons), accounting for 27% of total volume. Moreover, silicates production in China exceeded the figures recorded by the second-largest producer, the United States (1.3M tons), fourfold. The third position in this ranking was held by India (908K tons), with a 5.1% share.

In China, silicates production contracted by an average annual rate of -3.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (-3.1% per year) and India (-5.7% per year).

Imports

World Imports of Silicates, Commercial Alkali Metal Silicates

In 2022, approx. 2.1M tons of silicates, commercial alkali metal silicates were imported worldwide; with a decrease of -5.2% on 2021 figures. The total import volume increased at an average annual rate of +2.8% 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 2013 with an increase of 25%. Over the period under review, global imports hit record highs at 2.2M tons in 2021, and then contracted in the following year.

In value terms, silicates imports surged to $1B in 2022. The total import value increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 30%. Over the period under review, global imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports By Country

In 2022, India (378K tons), distantly followed by South Korea (123K tons), the Netherlands (115K tons), Germany (109K tons), the United States (100K tons) and Japan (95K tons) were the major importers of silicates, commercial alkali metal silicates, together making up 45% of total imports. France (91K tons), Belgium (69K tons), Taiwan (Chinese) (60K tons), Turkey (57K tons), South Africa (37K tons), Indonesia (35K tons) and Italy (35K tons) followed a long way behind the leaders.

India was also the fastest-growing in terms of the silicates, commercial alkali metal silicates imports, with a CAGR of +23.1% from 2012 to 2022. At the same time, South Africa (+9.3%), Turkey (+8.6%), the United States (+6.4%), Belgium (+4.5%), France (+4.4%), the Netherlands (+3.6%) and Germany (+3.1%) displayed positive paces of growth. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, South Korea (-1.3%), Italy (-1.6%), Japan (-1.9%) and Indonesia (-5.2%) illustrated a downward trend over the same period. While the share of India (+15 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Indonesia (-2.1 p.p.), Japan (-2.8 p.p.) and South Korea (-3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($81M), the United States ($74M) and the Netherlands ($68M) appeared to be the countries with the highest levels of imports in 2022, together accounting for 21% of global imports. South Korea, Japan, France, Turkey, Belgium, Taiwan (Chinese), Italy, Indonesia, India and South Africa lagged somewhat behind, together accounting for a further 30%.

Among the main importing countries, Turkey, with a CAGR of +12.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average silicates import price amounted to $509 per ton, increasing by 25% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Germany ($741 per ton), while India ($47 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+4.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Silicates, Commercial Alkali Metal Silicates

In 2022, global silicates exports contracted to 1.7M tons, reducing by -3% against the previous year's figure. The total export volume increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when exports increased by 24%. The global exports peaked at 2M tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, silicates exports skyrocketed to $986M in 2022. Over the period under review, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +105.3% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of 33%. Over the period under review, the global exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports By Country

In 2022, China (407K tons), distantly followed by Poland (236K tons), Spain (117K tons) and Germany (116K tons) represented the largest exporters of silicates, commercial alkali metal silicates, together creating 51% of total exports. The following exporters - Italy (72K tons), Egypt (65K tons), the Netherlands (54K tons), Belgium (50K tons), Brazil (47K tons), the United States (47K tons), Canada (47K tons), the Czech Republic (39K tons) and Taiwan (Chinese) (38K tons) - together made up 27% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +27.7%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, China ($223M), Poland ($117M) and the United States ($72M) were the countries with the highest levels of exports in 2022, together comprising 42% of global exports. The Netherlands, Germany, Belgium, Egypt, Spain, Canada, Italy, Taiwan (Chinese), Brazil and the Czech Republic lagged somewhat behind, together comprising a further 36%.

Among the main exporting countries, the Netherlands, with a CAGR of +32.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average silicates export price amounted to $577 per ton, picking up by 20% against the previous year. Over the last decade, it increased at an average annual rate of +2.9%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($1,537 per ton), while Spain ($320 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform