Africa: Market for Extruded Solid Rubber Rods And Profiles 2024

Market Size for Extruded Solid Rubber Rods And Profiles in Africa

In 2022, the African extruded solid rubber rod market increased by less than 0.1% to $X, rising for the second consecutive year after three years of decline. Overall, consumption showed a noticeable decline. The pace of growth was the most pronounced in 2021 when the market value increased by 5.8%. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Extruded Solid Rubber Rods And Profiles in Africa

In value terms, extruded solid rubber rod production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production showed a noticeable contraction. The growth pace was the most rapid in 2013 when the production volume increased by 5.9%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Exports of Extruded Solid Rubber Rods And Profiles

Exports in Africa

In 2022, the amount of extruded solid rubber rods and profiles exported in Africa soared to X tons, picking up by 34% on the year before. In general, exports showed a notable expansion. The pace of growth was the most pronounced in 2013 with an increase of 135%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, extruded solid rubber rod exports expanded remarkably to $X in 2022. Overall, exports showed a modest expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 152%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

South Africa prevails in exports structure, finishing at X tons, which was near 83% of total exports in 2022. It was distantly followed by Egypt (X tons), comprising a 7.2% share of total exports. Morocco (X tons) and Cote d'Ivoire (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to extruded solid rubber rod exports from South Africa stood at +4.2%. At the same time, Morocco (+26.6%) and Cote d'Ivoire (+10.8%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing exporter exported in Africa, with a CAGR of +26.6% from 2012-2022. By contrast, Egypt (-1.4%) illustrated a downward trend over the same period. While the share of South Africa (+13 p.p.) and Morocco (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Egypt (-3.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest extruded solid rubber rod supplier in Africa, comprising 87% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 2.9% share of total exports. It was followed by Egypt, with a 2.8% share.

In South Africa, extruded solid rubber rod exports expanded at an average annual rate of +2.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+28.5% per year) and Egypt (-6.6% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, declining by -21.6% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the export price increased by 57% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2021, and then reduced notably in the following year.

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 Cote d'Ivoire ($X per ton), while Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+16.0%), while the other leaders experienced a decline in the export price figures.

Imports of Extruded Solid Rubber Rods And Profiles

Imports in Africa

In 2022, the amount of extruded solid rubber rods and profiles imported in Africa expanded slightly to X tons, increasing by 3% compared with the year before. Overall, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2018 when imports increased by 55% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, extruded solid rubber rod imports reached $X in 2022. Over the period under review, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 42%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Morocco prevails in imports structure, recording X tons, which was approx. 64% of total imports in 2022. Algeria (X tons) held a 7.2% share (based on physical terms) of total imports, which put it in second place, followed by Kenya (6.9%) and South Africa (5.2%). The following importers - Egypt (X tons), Ghana (X tons) and Tanzania (X tons) - together made up 6.2% of total imports.

Morocco was also the fastest-growing in terms of the extruded solid rubber rods and profiles imports, with a CAGR of +27.7% from 2012 to 2022. At the same time, Tanzania (+6.7%) displayed positive paces of growth. South Africa, Algeria and Kenya experienced a relatively flat trend pattern. By contrast, Ghana (-1.7%) and Egypt (-5.3%) illustrated a downward trend over the same period. Morocco (+52 p.p.) significantly strengthened its position in terms of the total imports, while Ghana, South Africa, Egypt, Algeria and Kenya saw its share reduced by -2.6%, -4.6%, -7%, -7.1% and -7.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Morocco ($X) constitutes the largest market for imported extruded solid rubber rods and profiles in Africa, comprising 58% of total imports. The second position in the ranking was held by Algeria ($X), with an 8.9% share of total imports. It was followed by South Africa, with a 7.2% share.

In Morocco, extruded solid rubber rod imports expanded at an average annual rate of +24.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Algeria (-3.6% per year) and South Africa (+7.4% per year).

Import Prices by Country

In 2022, the import price in Africa amounted to $X per ton, flattening at the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the import price increased by 19% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, 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 (+8.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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