The silicones market in Austria reached a volume of 18.637 million kilograms in 2023. Over the past decade, the market experienced steady growth, with a compound annual growth rate of 3.8% in recent years. The year-on-year growth rate was consistently positive, showing resilience with a 3.98% increase in 2023. The market expanded due to increasing demand across various sectors, albeit with fluctuations as seen in the significant growth in 2017 and moderate increases thereafter.
Future trends to watch for:
- Increased use in automotive and construction sectors driving demand.
- Growing emphasis on sustainability could spur development of eco-friendly silicone products.
- Technological advancements enhancing the efficiency and application range of silicone products.
How does Austria rank in Silicones Market Size Volume?
| # | 6 Countries | Kilograms | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 630,880,000 | 2023 | +1.58% | -0.33% | View data |
| 2 | 2 Italy | 67,768,000 | 2023 | +3.04% | +3.05% | View data |
| 3 | 3 Poland | 25,152,000 | 2023 | +2.93% | +3% | View data |
| 4 | 4 Austria | 18,637,000 | 2023 | +3.98% | +3.8% | |
| 5 | 5 Finland | 5,734,400 | 2023 | +1.52% | +1.84% | View data |
| 6 | 6 Croatia | 644,250 | 2023 | -5.87% | -5.69% | View data |
