2024 Trends in Silicone Oil and Photovoltaic Industry: Parallel Price Fluctuations and Capacity Regulation-Iota

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News > Dynamic industry > 2024 Trends in Silicone Oil and Photovoltaic Industry: Parallel Price Fluctuations and Capacity Regulation

2024 Trends in Silicone Oil and Photovoltaic Industry: Parallel Price Fluctuations and Capacity Regulation

At the beginning of 2024, the domestic dimethyl silicone oil market experienced a significant price fluctuation. From January to mid March, due to the continuous rebound in raw material DMC prices, the cost of silicone oil was supported, and market prices steadily rose, reaching a high of 17800 yuan/ton in March. Subsequently, DMC prices fell and the cost pressure of silicone oil eased. However, the recovery of demand in major downstream industries such as textiles and daily chemical products is not ideal, and the insufficient demand has led to a gradual decline in prices amidst fluctuations. The average price in May dropped to 14800 yuan/ton, the lowest level of the year.
Entering summer, the price of silicone oil in the market has stabilized, but the range adjustment is significant. In mid August, cost pressure increased and demand for textile additives improved, leading to a slight rebound in prices for silicone oil companies. However, the "Golden September" market has not been as strong as expected, with weak demand recovery and limited price increases. By October, the decline in raw material DMC prices had widened, cost support had further weakened, and at the same time, market demand had weakened, causing silicone oil prices to enter a fluctuating downward trend again. The current average price is 15300 yuan/ton, with some areas dropping as low as 14800 yuan/ton.
As of now, the annual average price of domestically produced dimethyl silicone oil is 15683 yuan/ton, a year-on-year decrease of 8.5%. Overall, the fluctuation of silicone oil prices in 2024 is basically consistent with the trend of DMC prices, showing a trend of first rising and then falling. As the end of the year approaches, DMC prices have rebounded, and cost pressures have risen again. At the same time, some downstream enterprises have started stocking up before the holiday, and market demand has slightly improved. It is expected that the price of silicone oil will maintain a stable and positive operating situation in the short term.
At the same time, the photovoltaic industry is also undergoing changes. On December 24th, Tongwei Corporation and Daquan Energy announced the gradual start of phased production reduction and maintenance for some high-purity polycrystalline silicon production lines. It is reported that GCL Technology will also release relevant announcements. On December 25th, Xinte Energy stated that the industry as a whole is showing a situation of "the more production, the greater the loss", and major enterprises are adjusting their production strategies to achieve supply-demand balance. On the other hand, Hesheng Silicon Industry stated that the company has upstream production capacity advantages in industrial silicon, organic silicon, and newly entered polycrystalline silicon fields. The production reduction action and industry self-discipline will help the price of polycrystalline silicon return to rationality, which will have a certain positive impact on upstream enterprises. In addition, the company has carried out maintenance and technological transformation work on some business lines to achieve stable production control.
Overall, both the silicone oil market and the photovoltaic industry are currently in a stage of supply-demand adjustment and rational price regression, and their future trends will still be influenced by both cost side changes and demand dynamics.

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