Africa: Polystyrene Market 2024

Polystyrene Market Size in Africa

For the fourth consecutive year, the African polystyrene market recorded growth in sales value, which increased by 3.7% to $X in 2022. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The level of consumption peaked in 2022 and is likely to continue growth in the near future.

Polystyrene Production in Africa

In value terms, polystyrene production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 21% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Polystyrene Exports

Exports in Africa

In 2022, exports of polystyrene in Africa skyrocketed to X tons, with an increase of 221% against 2021. Over the period under review, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 2,835%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, polystyrene exports skyrocketed to $X in 2022. Overall, exports continue to indicate a resilient expansion. The growth pace was the most rapid in 2013 with an increase of 2,969%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Egypt was the largest exporter of polystyrene in Africa, with the volume of exports amounting to X tons, which was near 72% of total exports in 2022. It was distantly followed by South Africa (X tons), constituting a 17% share of total exports. The following exporters - Swaziland (X tons) and Morocco (X tons) - together made up 7% of total exports.

Egypt was also the fastest-growing in terms of the polystyrene exports, with a CAGR of +56.5% from 2012 to 2022. At the same time, Swaziland (+45.9%) and Morocco (+19.9%) displayed positive paces of growth. By contrast, South Africa (-1.9%) illustrated a downward trend over the same period. Egypt (+69 p.p.) and Swaziland (+3.4 p.p.) significantly strengthened its position in terms of the total exports, while South Africa saw its share reduced by -55.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Egypt ($X) emerged as the largest polystyrene supplier in Africa, comprising 76% of total exports. The second position in the ranking was taken by South Africa ($X), with a 17% share of total exports. It was followed by Morocco, with a 2.2% share.

In Egypt, polystyrene exports expanded at an average annual rate of +60.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Africa (-0.2% per year) and Morocco (+8.3% per year).

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, growing by 14% against the previous year. Export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polystyrene export price increased by +77.9% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 57%. Over the period under review, the export prices attained the maximum in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+2.7%), while the other leaders experienced mixed trends in the export price figures.

Polystyrene Imports

Imports in Africa

In 2022, approx. X tons of polystyrene were imported in Africa; therefore, remained relatively stable against the previous year's figure. The total import volume increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 15% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, polystyrene imports reached $X in 2022. Total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +80.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 67% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Egypt (X tons), South Africa (X tons), Algeria (X tons) and Morocco (X tons) represented roughly 84% of total imports in 2022. It was distantly followed by Nigeria (X tons), constituting a 4.7% share of total imports. Tunisia (X tons) and Ghana (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Ghana (with a CAGR of +21.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), South Africa ($X) and Morocco ($X) constituted the countries with the highest levels of imports in 2022, with a combined 71% share of total imports. Algeria, Nigeria, Tunisia and Ghana lagged somewhat behind, together accounting for a further 25%.

Ghana, with a CAGR of +18.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Africa stood at $X per ton in 2022, surging by 9.9% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 51%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($X per ton), while Algeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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