Brief Analysis of Silicone Export Data in December 2024 [SMM Analysis]

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SMM, January 23:

In December 2024, China's exports of silicone in primary forms (polysiloxane) reached 494,000 mt, up 15.96% MoM and up 75.49% YoY. From January to December 2024, the cumulative export volume of silicone in primary forms (polysiloxane) was 5.457 million mt, up 35.21% YoY. Among them, South Korea was the largest trading partner in December, with a trade volume of 92,000 mt, surging 53.65% MoM from November, reclaiming the top position.

Figure 1 China's Exports of Silicone in Primary Forms (Polysiloxane) in December 2024

Data Source: General Administration of Customs, SMM

By specific trading partners, South Korea's demand returned to the top position this month, while India's demand declined. In December, exports to South Korea were 92,000 mt, up 53.65% MoM from November. The top 5 export trading partners in December were South Korea, India, the US, Turkey, and Russia, accounting for 50.56% of total exports. Among them, Turkey's demand rose to the fourth position. The top 5 export volumes totaled 250,000 mt, up 16.28% MoM from November.

Figure 2 Statistics of China's Exports of Silicone in Primary Forms (Polysiloxane) by Trading Partner

Data Source: General Administration of Customs, SMM

Compared to November, South Korea's trade volume increased 53.65% MoM to 92,000 mt, accounting for 18.53% of total exports. India's trade volume dropped to the second-largest demand country, down 23.94% MoM to 54,000 mt, accounting for 10.87% of total exports. The US trade volume was 43,000 mt, accounting for 8.73% of total exports, up 22.86% MoM. Turkey's trade volume was 33,000 mt, accounting for 6.65% of total exports, up 94.12% MoM from November. Russia's trade volume was 29,000 mt, up 26.09% MoM, accounting for 5.79% of total exports. Vietnam's trade volume was 27,000 mt, accounting for 5.55% of total exports, with a slight MoM increase but limited growth, dropping to the sixth position in export trade volume. In December, demand from the Middle East remained high, with the UAE and Pakistan ranking seventh and eighth, respectively, with a total demand of 36,000 mt, accounting for 7.37%.