The silicones market in Denmark experienced fluctuations from 2012 to 2022. Significant growth occurred in 2013 with a year-on-year increase of 20.01%. However, there were periods of decline, notably in 2017 and 2020, where the market shrank by 11.46% and 14.02%, respectively. Despite these fluctuations, the Compound Annual Growth Rate (CAGR) for the last five years averaged at 2.46%, indicating moderate overall growth.
Recent years saw positive recovery and growth, with 2021 showing a 16.26% increase year-on-year and 2022 maintaining a 6.86% rise. As of now, in 2023, the market stands at an anticipated higher value compared to the previous year.
Future trends to watch for include the potential impacts of sustainable and eco-friendly silicone manufacturing practices, market expansion through innovation in silicone applications, and the influence of regulatory changes within the EU on production and usage of silicones. Monitoring these trends will be crucial for forecasting and strategic planning.
How does Denmark rank in Silicones Market Size Value?
| # | 9 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 4,069,300,000 | 2023 | +1.79% | -0.33% | View data |
| 2 | 2 Italy | 408,170,000 | 2023 | +3.93% | +1.39% | View data |
| 3 | 3 Spain | 216,020,000 | 2023 | +2.3% | +1.22% | View data |
| 4 | 4 Austria | 153,000,000 | 2023 | +3.26% | +0.94% | View data |
| 5 | 5 Hungary | 49,465,000 | 2023 | +5.48% | +8.54% | View data |
| 6 | 6 Finland | 33,212,000 | 2023 | -0.19% | -0.22% | View data |
| 7 | 7 Denmark | 15,920,000 | 2023 | +1.47% | +0.45% | |
| 8 | 8 Estonia | 12,111,000 | 2023 | +6.74% | +7.64% | View data |
| 9 | 9 Croatia | 4,462,100 | 2023 | -1.4% | -2.53% | View data |
