Africa: Resinoids Market 2024

Resinoids Market Size in Africa

The African resinoids market dropped to $X in 2022, waning by -3.9% against the previous year. Overall, consumption continues to indicate a perceptible slump. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Resinoids Production in Africa

In value terms, resinoids production declined modestly to $X in 2022 estimated in export price. In general, production continues to indicate a perceptible setback. The most prominent rate of growth was recorded in 2013 when the production volume increased by 34%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Resinoids Exports

Exports in Africa

In 2022, shipments abroad of resinoids decreased by -14.1% to X tons, falling for the second consecutive year after two years of growth. In general, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2016 when exports increased by 149%. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, resinoids exports skyrocketed to $X in 2022. Over the period under review, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2021 when exports increased by 49%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

In 2022, Tunisia (X tons), Madagascar (X tons) and Egypt (X tons) represented the major exporter of resinoids in Africa, achieving 82% of total export. It was distantly followed by South Africa (X tons), mixing up a 13% share of total exports. Ethiopia (X tons) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Ethiopia (with a CAGR of +62.9%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Egypt ($X) emerged as the largest resinoids supplier in Africa, comprising 59% of total exports. The second position in the ranking was held by Tunisia ($X), with a 28% share of total exports. It was followed by Madagascar, with a 7.6% share.

In Egypt, resinoids exports increased at an average annual rate of +30.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Tunisia (+17.9% per year) and Madagascar (-10.5% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, picking up by 68% against the previous year. Overall, the export price recorded resilient growth. The most prominent rate of growth was recorded in 2017 when the export price increased by 114%. The level of export peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (+32.6%), while the other leaders experienced more modest paces of growth.

Resinoids Imports

Imports in Africa

In 2022, after two years of growth, there was significant decline in supplies from abroad of resinoids, when their volume decreased by -10.8% to X tons. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 46% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, resinoids imports contracted markedly to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when imports increased by 40%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria represented the major importing country with an import of about X tons, which reached 36% of total imports. Ghana (X tons) took the second position in the ranking, followed by Angola (X tons) and Egypt (X tons). All these countries together held approx. 31% share of total imports. Libya (X tons), South Africa (X tons), Senegal (X tons), Somalia (X tons), Mauritania (X tons), Guinea (X tons) and Togo (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to resinoids imports into Nigeria stood at +13.2%. At the same time, Somalia (+50.9%), Senegal (+42.4%), Angola (+20.7%), Guinea (+12.9%), Mauritania (+10.1%), South Africa (+8.1%) and Egypt (+5.0%) displayed positive paces of growth. Moreover, Somalia emerged as the fastest-growing importer imported in Africa, with a CAGR of +50.9% from 2012-2022. Ghana experienced a relatively flat trend pattern. By contrast, Togo (-7.2%) and Libya (-9.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria, Angola, Senegal, Somalia, Egypt, South Africa, Mauritania, Ghana and Guinea increased by +27, +7.7, +3.9, +3.7, +3, +2.4, +1.8, +1.7 and +1.7 percentage points, respectively.

In value terms, the largest resinoids importing markets in Africa were Egypt ($X), Nigeria ($X) and Ghana ($X), with a combined 60% share of total imports. Senegal, South Africa, Guinea, Somalia, Angola, Libya, Mauritania and Togo lagged somewhat behind, together accounting for a further 31%.

Senegal, with a CAGR of +53.9%, recorded the highest growth rate of the value of imports, among 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, reducing by -5.8% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the import price increased by 53% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+8.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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