Africa: Alkyd Resins Market 2024

Alkyd Resins Market Size in Africa

In 2022, the African alkyd resins market increased by 0.8% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in years to come.

Alkyd Resins Production in Africa

In value terms, alkyd resins production reduced modestly to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 19% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Alkyd Resins Exports

Exports in Africa

In 2022, the amount of alkyd resins in primary forms exported in Africa contracted markedly to X tons, falling by -30.2% compared with the year before. Over the period under review, exports showed a slight decrease. The most prominent rate of growth was recorded in 2021 with an increase of 38%. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, alkyd resins exports declined remarkably to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 58% against the previous year. As a result, the exports attained the peak of $X, and then shrank markedly in the following year.

Exports by Country

In 2022, Egypt (X tons) and Tunisia (X tons) represented the largest exporters of alkyd resins in primary forms in Africa, together recording near 81% of total exports. South Africa (X tons) took the next position in the ranking, distantly followed by Kenya (X tons). All these countries together took approx. 18% share of total exports.

From 2012 to 2022, the biggest increases were recorded for South Africa (with a CAGR of +4.0%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest alkyd resins supplying countries in Africa were Egypt ($X), Tunisia ($X) and South Africa ($X), together accounting for 96% of total exports.

Among the main exporting countries, South Africa, with a CAGR of +4.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, growing by 13% against the previous year. Export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, alkyd resins export price increased by +79.7% against 2017 indices. The pace of growth appeared the most rapid in 2020 an increase of 34%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Kenya ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+2.3%), while the other leaders experienced more modest paces of growth.

Alkyd Resins Imports

Imports in Africa

Alkyd resins imports fell to X tons in 2022, which is down by -12.9% on 2021 figures. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 22%. As a result, imports attained the peak of X tons, and then dropped in the following year.

In value terms, alkyd resins imports contracted to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 44% against the previous year. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

In 2022, Sudan (X tons), followed by Uganda (X tons), Kenya (X tons), Algeria (X tons), Cote d'Ivoire (X tons), Tanzania (X tons), Ethiopia (X tons), Zimbabwe (X tons) and Ghana (X tons) were the major importers of alkyd resins in primary forms, together creating 51% of total imports. Guinea (X tons), Zambia (X tons), Morocco (X tons) and Libya (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Tanzania (with a CAGR of +26.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest alkyd resins importing markets in Africa were Sudan ($X), Algeria ($X) and Uganda ($X), together comprising 24% of total imports. Zimbabwe, Ghana, Morocco, Cote d'Ivoire, Tanzania, Ethiopia, Kenya, Guinea, Zambia and Libya lagged somewhat behind, together comprising a further 40%.

Tanzania, with a CAGR of +23.5%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Africa stood at $X per ton in 2022, approximately mirroring the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 18%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Algeria ($X per ton), while Kenya ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sudan (+2.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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