Africa: Phenolic Resins Market 2024

Phenolic Resins Market Size in Africa

After three years of growth, the African phenolic resins market decreased by -3.1% to $X in 2021. The total consumption indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +47.4% against 2015 indices. Over the period under review, the market attained the peak level at $X in 2020, and then shrank modestly in the following year.

Phenolic Resins Production in Africa

In value terms, phenolic resins production declined to $X in 2021 estimated in export price. The total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +2.4% 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 +51.9% against 2015 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 35%. The level of production peaked at $X in 2020, and then shrank modestly in the following year.

Phenolic Resins Exports

Exports in Africa

Phenolic resins exports reduced rapidly to X tons in 2021, which is down by -49.6% on 2020. Overall, exports recorded a abrupt decrease. The pace of growth appeared the most rapid in 2020 with an increase of 55%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, phenolic resins exports reduced notably to $X in 2021. In general, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2020 when exports increased by 54% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

South Africa prevails in exports structure, reaching X tons, which was approx. 79% of total exports in 2021. Tunisia (X tons) ranks second in terms of the total exports with a 7% share, followed by Egypt (6.2%). Tanzania (X tons), Kenya (X tons) and Cote d'Ivoire (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to phenolic resins exports from South Africa stood at -9.3%. At the same time, Tunisia (+56.8%), Kenya (+41.6%) and Tanzania (+1.7%) displayed positive paces of growth. Moreover, Tunisia emerged as the fastest-growing exporter exported in Africa, with a CAGR of +56.8% from 2012-2021. By contrast, Cote d'Ivoire (-26.1%) and Egypt (-27.2%) illustrated a downward trend over the same period. While the share of South Africa (+21 p.p.), Tunisia (+7 p.p.), Kenya (+2.1 p.p.) and Tanzania (+2.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Cote d'Ivoire (-5.8 p.p.) and Egypt (-26.4 p.p.) displayed negative dynamics.

In value terms, South Africa ($X) remains the largest phenolic resins supplier in Africa, comprising 66% of total exports. The second position in the ranking was taken by Tunisia ($X), with a 27% share of total exports. It was followed by Egypt, with a 2.3% share.

In South Africa, phenolic resins exports shrank by an average annual rate of -7.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Tunisia (+76.4% per year) and Egypt (-30.4% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2021, increasing by 21% against the previous year. Export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, phenolic resins export price increased by +90.3% against 2015 indices. The most prominent rate of growth was recorded in 2018 when the export price increased by 24%. The level of export peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tunisia (+12.5%), while the other leaders experienced more modest paces of growth.

Phenolic Resins Imports

Imports in Africa

In 2021, supplies from abroad of phenolic resins in primary forms was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, recorded a pronounced downturn. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, phenolic resins imports soared to $X in 2021. Overall, imports, however, saw a perceptible downturn. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, South Africa (X tons), distantly followed by Angola (X tons), Morocco (X tons), Egypt (X tons), Nigeria (X tons), Algeria (X tons) and Tanzania (X tons) were the major importers of phenolic resins in primary forms, together creating 77% of total imports. The following importers - Congo (X tons), Tunisia (X tons), Kenya (X tons), Guinea (X tons), Malawi (X tons) and Zambia (X tons) - together made up 18% of total imports.

From 2012 to 2021, the biggest increases were recorded for Guinea (with a CAGR of +32.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest phenolic resins importing markets in Africa were South Africa ($X), Angola ($X) and Morocco ($X), together accounting for 52% of total imports. Egypt, Nigeria, Algeria, Congo, Tunisia, Tanzania, Kenya, Zambia, Malawi and Guinea lagged somewhat behind, together comprising a further 43%.

Among the main importing countries, Congo, with a CAGR of +46.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Africa amounted to $X per ton, jumping by 24% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. Over the period under review, import prices attained the maximum at $X per ton in 2014; afterwards, it flattened through to 2021.

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 Angola ($X per ton), while Guinea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Congo (+13.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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