Africa: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Africa

The African industrial stearic acid market reduced modestly to $X in 2021, approximately mirroring the previous year. Overall, consumption showed a perceptible curtailment. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Industrial Stearic Acid Production in Africa

In value terms, industrial stearic acid production shrank modestly to $X in 2021 estimated in export price. Overall, production, however, showed a drastic downturn. The pace of growth appeared the most rapid in 2020 when the production volume increased by 5.7%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Industrial Stearic Acid Exports

Exports in Africa

For the third consecutive year, Africa recorded growth in shipments abroad of industrial stearic acid, which increased by 38% to X tons in 2021. Over the period under review, exports enjoyed significant growth. The growth pace was the most rapid in 2020 when exports increased by 113%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, industrial stearic acid exports skyrocketed to $X in 2021. Overall, exports posted a temperate increase. The growth pace was the most rapid in 2014 when exports increased by 248%. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Gabon (X tons) represented the largest exporter of industrial stearic acid, comprising 45% of total exports. It was distantly followed by Zimbabwe (X tons), Senegal (X tons) and Sierra Leone (X tons), together mixing up a 42% share of total exports. The following exporters - Uganda (X tons), South Africa (X tons) and Ghana (X tons) - together made up 8.3% of total exports.

From 2012 to 2021, the biggest increases were recorded for Uganda (with a CAGR of +75.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Gabon ($X) remains the largest industrial stearic acid supplier in Africa, comprising 52% of total exports. The second position in the ranking was taken by Senegal ($X), with a 13% share of total exports. It was followed by Sierra Leone, with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Gabon stood at +25.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (+14.3% per year) and Sierra Leone (+90.2% per year).

Export Prices by Country

In 2021, the export price in Africa amounted to $X per ton, growing by 4.5% against the previous year. Over the period under review, the export price, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2014 an increase of 83% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was South Africa ($X per ton), while Zimbabwe ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sierra Leone (+92.2%), while the other leaders experienced mixed trends in the export price figures.

Industrial Stearic Acid Imports

Imports in Africa

Industrial stearic acid imports declined modestly to X tons in 2021, with a decrease of -4.7% on the year before. Total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +28.5% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 35% against the previous year. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, industrial stearic acid imports surged to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +68.0% against 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 47%. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

In 2021, Egypt (X tons), distantly followed by South Africa (X tons), Senegal (X tons), Nigeria (X tons) and Democratic Republic of the Congo (X tons) represented the largest importers of industrial stearic acid, together creating 80% of total imports. The following importers - Cote d'Ivoire (X tons), Tanzania (X tons), Djibouti (X tons) and Ghana (X tons) - together made up 9.8% 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 Djibouti (with a CAGR of +41.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X) constitutes the largest market for imported industrial stearic acid in Africa, comprising 36% of total imports. The second position in the ranking was taken by South Africa ($X), with an 18% share of total imports. It was followed by Senegal, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in Egypt totaled +13.7%. The remaining importing countries recorded the following average annual rates of imports growth: South Africa (-2.4% per year) and Senegal (+25.6% per year).

Import Prices by Country

In 2021, the import price in Africa amounted to $X per ton, surging by 33% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Egypt ($X per ton), while Cote d'Ivoire ($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 (+4.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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