Africa: Cyclic Hydrocarbons Market 2024

Cyclic Hydrocarbons Market Size in Africa

The African cyclic hydrocarbons market was finally on the rise to reach $X in 2021, after three years of decline. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Cyclic Hydrocarbons Production in Africa

In value terms, cyclic hydrocarbons production rose significantly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by 15%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Cyclic Hydrocarbons Exports

Exports in Africa

For the third consecutive year, Africa recorded growth in shipments abroad of other cyclic hydrocarbons, which increased by 184% to X tons in 2021. Overall, exports, however, continue to indicate a mild downturn. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, cyclic hydrocarbons exports soared to $X in 2021. In general, exports, however, showed a mild decline. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

South Africa was the largest exporting country with an export of around X tons, which accounted for 63% of total exports. It was distantly followed by Egypt (X tons), comprising a 35% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Egypt (with a CAGR of +10.6%).

In value terms, South Africa ($X) remains the largest cyclic hydrocarbons supplier in Africa, comprising 69% of total exports. The second position in the ranking was taken by Egypt ($X), with a 28% share of total exports.

In South Africa, cyclic hydrocarbons exports expanded at an average annual rate of +5.7% over the period from 2012-2021.

Export Prices by Country

The export price in Africa stood at $X per ton in 2021, almost unchanged from the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the export price increased by 42% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was South Africa ($X per ton), while Egypt totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (-3.1%).

Cyclic Hydrocarbons Imports

Imports in Africa

Cyclic hydrocarbons imports declined rapidly to X tons in 2021, which is down by -24% compared with 2020. Overall, imports saw a drastic downturn. The pace of growth was the most pronounced in 2020 when imports increased by 35% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, cyclic hydrocarbons imports shrank to $X in 2021. Over the period under review, imports faced a abrupt setback. The most prominent rate of growth was recorded in 2020 when imports increased by 36% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Nigeria dominates imports structure, accounting for X tons, which was approx. 69% of total imports in 2021. It was distantly followed by South Africa (X tons) and Egypt (X tons), together committing a 13% share of total imports. The following importers - Zimbabwe (X tons), Malawi (X tons), Tunisia (X tons) and Zambia (X tons) - together made up 9.7% of total imports.

From 2012 to 2021, average annual rates of growth with regard to cyclic hydrocarbons imports into Nigeria stood at -2.5%. At the same time, Zimbabwe (+19.2%), Malawi (+15.7%), Tunisia (+12.9%) and Zambia (+2.8%) displayed positive paces of growth. Moreover, Zimbabwe emerged as the fastest-growing importer imported in Africa, with a CAGR of +19.2% from 2012-2021. Egypt and South Africa experienced a relatively flat trend pattern. While the share of Nigeria (+34 p.p.), South Africa (+4.1 p.p.), Zimbabwe (+4 p.p.), Egypt (+3 p.p.), Malawi (+1.8 p.p.) and Tunisia (+1.6 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported other cyclic hydrocarbons in Africa, comprising 54% of total imports. The second position in the ranking was taken by South Africa ($X), with a 10% share of total imports. It was followed by Egypt, with a 7.9% share.

In Nigeria, cyclic hydrocarbons imports contracted by an average annual rate of -5.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Africa (-6.3% per year) and Egypt (-8.0% per year).

Import Prices by Country

In 2021, the import price in Africa amounted to $X per ton, jumping by 17% against the previous year. In general, the import price, however, showed a pronounced slump. 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.

Prices varied noticeably country of destination: the country with the highest price was Zambia ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Zambia (+6.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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