November 2024 Silicone Export Data Brief Analysis [SMM Analysis]  

In November 2024, China's exports of polysiloxane reached 42,600 mt, down 1.01% MoM but up 16.49% YoY. From January to November 2024, cumulative exports totaled 496,300 mt, up 32.17% YoY. Among these, India became the largest trading partner in November, with a trade volume of 7,100 mt, rising to the top.

By specific trading partners, India's demand ranked first this month, while South Korea's demand slightly decreased. In October, exports to India reached 7,100 mt, up 22.41% MoM. The top 5 trading partners in October were India, South Korea, the US, Vietnam, and Russia, accounting for 50.41% of total exports. Compared to October, the overall change was relatively small, but there were shifts in trading partners, with the top 5 totaling 21,500 mt.

Compared to October, India's trade volume increased 22.41% MoM to 7,100 mt, accounting for 16.62% of total exports. South Korea's trade volume decreased 25.50% MoM to 6,000 mt, accounting for 14.00% of total exports. The US trade volume reached 3,500 mt, accounting for 8.15% of total exports, up 29.63% MoM, rising to the third position. Vietnam's trade volume was 2,600 mt, accounting for 6.21% of total exports, increasing from October and entering the top five. Russia's trade volume was 2,300 mt, down 25.81% MoM, accounting for 5.45% of total exports. In addition, demand from the Middle East region grew rapidly, with Pakistan, Turkey, and the UAE ranking 6th, 7th, and 8th in export trade volumes, respectively. Their total demand reached 5,200 mt, accounting for 12.10%.