Africa: Azo- Or Azoxy-Compounds Market 2024

Azo- Or Azoxy-Compounds Market Size in Africa

The African azo- or azoxy-compounds market expanded slightly to $X in 2022, with an increase of 4.2% against the previous year. The total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +57.9% against 2015 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Azo- Or Azoxy-Compounds Production in Africa

In value terms, azo- or azoxy-compounds production stood at $X in 2022 estimated in export price. In general, production, however, showed a resilient increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 33% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Azo- Or Azoxy-Compounds Exports

Exports in Africa

In 2022, overseas shipments of diazo-, azo- or azoxy-compounds increased by 9.3% to X tons, rising for the third consecutive year after three years of decline. Overall, exports enjoyed resilient growth. The pace of growth appeared the most rapid in 2013 with an increase of 145%. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, azo- or azoxy-compounds exports skyrocketed to $X in 2022. In general, exports saw a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of 372%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Morocco represented the largest exporter of diazo-, azo- or azoxy-compounds in Africa, with the volume of exports resulting at X tons, which was near 51% of total exports in 2022. Egypt (X tons) ranks second in terms of the total exports with an 18% share, followed by Cote d'Ivoire (16%) and Senegal (7.8%). Kenya (X tons) and South Africa (X tons) held a minor share of total exports.

Exports from Morocco decreased at an average annual rate of -8.5% from 2012 to 2022. At the same time, Egypt (+42.1%), South Africa (+10.4%) and Kenya (+4.8%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing exporter exported in Africa, with a CAGR of +42.1% from 2012-2022. Cote d'Ivoire experienced a relatively flat trend pattern. By contrast, Senegal (-4.1%) illustrated a downward trend over the same period. Morocco (+51 p.p.) and Egypt (+18 p.p.) significantly strengthened its position in terms of the total exports, while Kenya, Senegal and Cote d'Ivoire saw its share reduced by -3.5%, -28.3% and -36% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest azo- or azoxy-compounds supplying countries in Africa were Egypt ($X), Morocco ($X) and Cote d'Ivoire ($X), with a combined 83% share of total exports.

In terms of the main exporting countries, Egypt, with a CAGR of +41.9%, saw the highest growth rate of 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, picking up by 31% against the previous year. In general, the export price saw a temperate expansion. The most prominent rate of growth was recorded in 2020 an increase of 94%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Morocco ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+6.4%), while the other leaders experienced more modest paces of growth.

Azo- Or Azoxy-Compounds Imports

Imports in Africa

In 2022, approx. X tons of diazo-, azo- or azoxy-compounds were imported in Africa; with an increase of 19% compared with 2021. The total import volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by 44% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, azo- or azoxy-compounds imports rose significantly to $X in 2022. The total import value increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 45% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Nigeria dominates imports structure, finishing at X tons, which was near 56% of total imports in 2022. Egypt (X tons) held a 9.4% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (9.1%) and Morocco (5%). Rwanda (X tons), Kenya (X tons), Senegal (X tons), Ethiopia (X tons) and South Africa (X tons) took a relatively small share of total imports.

Imports into Nigeria increased at an average annual rate of +2.1% from 2012 to 2022. At the same time, Rwanda (+60.6%), Morocco (+11.7%), Senegal (+8.5%), Cote d'Ivoire (+5.0%), Ethiopia (+4.0%) and Egypt (+1.0%) displayed positive paces of growth. Moreover, Rwanda emerged as the fastest-growing importer imported in Africa, with a CAGR of +60.6% from 2012-2022. By contrast, South Africa (-1.3%) and Kenya (-6.1%) illustrated a downward trend over the same period. While the share of Rwanda (+4.2 p.p.), Morocco (+3 p.p.), Cote d'Ivoire (+2.4 p.p.) and Nigeria (+1.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Kenya (-5.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported diazo-, azo- or azoxy-compounds in Africa, comprising 44% of total imports. The second position in the ranking was taken by Egypt ($X), with an 18% share of total imports. It was followed by South Africa, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled +2.7%. The remaining importing countries recorded the following average annual rates of imports growth: Egypt (+4.3% per year) and South Africa (+1.0% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2022, which is down by -4.7% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 22% against the previous year. As a result, import price attained the peak level of $X per ton, and then reduced slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Africa ($X per ton), while Rwanda ($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 (+3.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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