Africa: Aromatic Hydrocarbons Derivatives Market 2024

Aromatic Hydrocarbons Derivatives Market Size in Africa

The African aromatic hydrocarbons derivatives market contracted modestly to $X in 2021, declining by -2.1% against the previous year. Overall, consumption, however, showed a buoyant increase. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Aromatic Hydrocarbons Derivatives Production in Africa

In value terms, aromatic hydrocarbons derivatives production expanded to $X in 2021 estimated in export price. The total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +12.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +3.4% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of 99%. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Aromatic Hydrocarbons Derivatives Exports

Exports in Africa

Aromatic hydrocarbons derivatives exports declined sharply to X tons in 2021, waning by -22.7% on the previous year. Overall, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2015 with an increase of 173% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, aromatic hydrocarbons derivatives exports dropped dramatically to $X in 2021. In general, exports showed a deep setback. The most prominent rate of growth was recorded in 2014 with an increase of 94%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

South Africa prevails in exports structure, finishing at X tons, which was near 94% of total exports in 2021. The following exporters - Nigeria (X tons) and Namibia (X tons) - together made up 6.1% of total exports.

Exports from South Africa decreased at an average annual rate of -2.0% from 2012 to 2021. At the same time, Nigeria (+2.9%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Africa, with a CAGR of +2.9% from 2012-2021. By contrast, Namibia (-11.8%) illustrated a downward trend over the same period. South Africa (+28 p.p.) and Nigeria (+2.3 p.p.) significantly strengthened its position in terms of the total exports, while Namibia saw its share reduced by -1.5% from 2012 to 2021, respectively.

In value terms, South Africa ($X) remains the largest aromatic hydrocarbons derivatives supplier in Africa, comprising 95% of total exports. The second position in the ranking was held by Nigeria ($X), with a 1.3% share of total exports.

In South Africa, aromatic hydrocarbons derivatives exports declined by an average annual rate of -6.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Nigeria (-18.5% per year) and Namibia (-28.0% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2021, dropping by -13.3% against the previous year. Overall, the export price recorded a pronounced decrease. The most prominent rate of growth was recorded in 2014 when the export price increased by 137% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (-4.2%), while the other leaders experienced a decline in the export price figures.

Aromatic Hydrocarbons Derivatives Imports

Imports in Africa

In 2021, after two years of growth, there was significant decline in overseas purchases of halogenated derivatives of aromatic hydrocarbons, when their volume decreased by -19.3% to X tons. Overall, imports, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2014 when imports increased by 120%. The volume of import peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, aromatic hydrocarbons derivatives imports rose to $X in 2021. In general, imports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 108%. The level of import peaked in 2021 and is likely to continue growth in the near future.

Imports by Country

In 2021, Nigeria (X tons), Egypt (X tons) and South Africa (X tons) represented the major importer of halogenated derivatives of aromatic hydrocarbons in Africa, achieving 75% of total import. Algeria (X tons) held an 8.9% share (based on physical terms) of total imports, which put it in second place, followed by Kenya (6.4%). Ghana (X tons) held a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Kenya (with a CAGR of +12.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X) constitutes the largest market for imported halogenated derivatives of aromatic hydrocarbons in Africa, comprising 40% of total imports. The second position in the ranking was taken by Ghana ($X), with an 18% share of total imports. It was followed by Nigeria, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Egypt amounted to +1.7%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+36.1% per year) and Nigeria (-1.8% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2021, jumping by 28% against the previous year. In general, the import price, however, saw a slight decline. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+27.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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