Africa: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in Africa

After two years of growth, the African iron oxide pigment market decreased by -13.9% to $X in 2021. Over the period under review, consumption, however, enjoyed resilient growth. Over the period under review, the market reached the maximum level at $X in 2020, and then reduced in the following year.

Iron Oxide Pigment Production in Africa

In value terms, iron oxide pigment production shrank to $X in 2021 estimated in export price. Over the period under review, production posted a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 85% against the previous year. The level of production peaked at $X in 2020, and then shrank in the following year.

Iron Oxide Pigment Exports

Exports in Africa

In 2021, after three years of decline, there was significant growth in overseas shipments of iron oxide pigments, when their volume increased by 95% to X tons. Overall, exports saw a significant increase. The growth pace was the most rapid in 2017 with an increase of 923%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, iron oxide pigment exports rose modestly to $X in 2021. Over the period under review, exports recorded a significant increase. The pace of growth was the most pronounced in 2017 with an increase of 224% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

South Africa (X tons) and Mauritania (X tons) prevails in exports structure, together achieving 93% of total exports. It was distantly followed by Morocco (X tons), creating a 5.5% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Mauritania (with a CAGR of +33.5%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Mauritania ($X) remains the largest iron oxide pigment supplier in Africa, comprising 70% of total exports. The second position in the ranking was taken by South Africa ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Mauritania amounted to +25.4%. The remaining exporting countries recorded the following average annual rates of exports growth: South Africa (+15.2% per year) and Morocco (-4.9% per year).

Export Prices by Country

In 2021, the export price in Africa amounted to $X per ton, with a decrease of -47.4% against the previous year. In general, the export price continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2014 an increase of 244% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2020, and then plummeted in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Mauritania ($X per ton), while Morocco ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Morocco (+29.9%), while the other leaders experienced a decline in the export price figures.

Iron Oxide Pigment Imports

Imports in Africa

In 2021, purchases abroad of iron oxide pigments increased by 3.3% to X tons, rising for the third year in a row after two years of decline. Total imports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +4.0% 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 +19.6% against 2018 indices. The growth pace was the most rapid in 2016 when imports increased by 51%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, iron oxide pigment imports expanded sharply to $X in 2021. The total import value increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 28% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, South Africa (X tons) was the largest importer of iron oxide pigments, comprising 34% of total imports. It was distantly followed by Nigeria (X tons), Kenya (X tons), Algeria (X tons), Morocco (X tons), Egypt (X tons) and Namibia (X tons), together making up a 39% share of total imports. The following importers - Cote d'Ivoire (X tons), Tanzania (X tons), Ethiopia (X tons) and Ghana (X tons) - together made up 11% of total imports.

From 2012 to 2021, average annual rates of growth with regard to iron oxide pigment imports into South Africa stood at +7.0%. At the same time, Cote d'Ivoire (+22.0%), Namibia (+17.9%), Ghana (+8.2%), Kenya (+8.0%), Tanzania (+5.8%) and Ethiopia (+4.2%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in Africa, with a CAGR of +22.0% from 2012-2021. Nigeria, Algeria and Morocco experienced a relatively flat trend pattern. By contrast, Egypt (-6.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of South Africa, Namibia, Cote d'Ivoire and Kenya increased by +7.7, +3.6, +2.6 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported iron oxide pigments in Africa, comprising 33% of total imports. The second position in the ranking was held by Morocco ($X), with an 8.8% share of total imports. It was followed by Nigeria, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value in South Africa totaled +6.1%. In the other countries, the average annual rates were as follows: Morocco (+0.9% per year) and Nigeria (+0.8% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2021, with an increase of 9% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the import price increased by 10%. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat 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 Morocco ($X per ton), while Namibia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Algeria (+6.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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