Africa: Market for Salts Of Acetic Acid 2024

Market Size for Salts Of Acetic Acid in Africa

The African salts of acetic acid market rose sharply to $X in 2022, with an increase of 7.4% against the previous year. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in years to come.

Production of Salts Of Acetic Acid in Africa

In value terms, salts of acetic acid production stood at $X in 2022 estimated in export price. Over the period under review, production, however, recorded a mild setback. The most prominent rate of growth was recorded in 2018 with an increase of 14%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Salts Of Acetic Acid

Exports in Africa

In 2022, the amount of salts of acetic acid exported in Africa fell to X tons, declining by -10.7% on the previous year. The total export volume increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 38%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, salts of acetic acid exports soared to $X in 2022. Total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +71.2% against 2017 indices. The pace of growth was the most pronounced in 2013 when exports increased by 75%. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in years to come.

Exports by Country

In 2022, South Africa (X tons) represented the main exporter of salts of acetic acid, comprising 75% of total exports. It was distantly followed by Nigeria (X tons) and Ghana (X tons), together making up a 20% share of total exports. Senegal (X tons) held a little share of total exports.

South Africa experienced a relatively flat trend pattern with regard to volume of exports of salts of acetic acid. At the same time, Senegal (+42.9%), Nigeria (+21.1%) and Ghana (+10.9%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Africa, with a CAGR of +42.9% from 2012-2022. Nigeria (+8.7 p.p.), Ghana (+5 p.p.) and Senegal (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while South Africa saw its share reduced by -15% from 2012 to 2022, respectively.

In value terms, South Africa ($X) remains the largest salts of acetic acid supplier in Africa, comprising 79% of total exports. The second position in the ranking was held by Ghana ($X), with an 11% share of total exports. It was followed by Nigeria, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value in South Africa amounted to +5.8%. In the other countries, the average annual rates were as follows: Ghana (+14.4% per year) and Nigeria (+21.0% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, picking up by 35% against the previous year. Export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, salts of acetic acid export price increased by +59.9% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the export price increased by 46% against the previous year. The level of export peaked in 2022 and is likely to continue growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+5.4%), while the other leaders experienced more modest paces of growth.

Imports of Salts Of Acetic Acid

Imports in Africa

In 2022, imports of salts of acetic acid in Africa rose significantly to X tons, growing by 5.7% compared with the previous year. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 when imports increased by 16% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, salts of acetic acid imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +5.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 23% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

South Africa was the main importer of salts of acetic acid in Africa, with the volume of imports reaching X tons, which was approx. 50% of total imports in 2022. It was distantly followed by Nigeria (X tons) and Egypt (X tons), together making up a 34% share of total imports. Zambia (X tons) and Tanzania (X tons) followed a long way behind the leaders.

Imports into South Africa increased at an average annual rate of +5.4% from 2012 to 2022. At the same time, Tanzania (+26.2%), Zambia (+10.3%) and Nigeria (+6.1%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing importer imported in Africa, with a CAGR of +26.2% from 2012-2022. By contrast, Egypt (-3.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Africa, Nigeria, Tanzania and Zambia increased by +11, +5.9, +2 and +1.6 percentage points, respectively.

In value terms, the largest salts of acetic acid importing markets in Africa were South Africa ($X), Nigeria ($X) and Egypt ($X), with a combined 82% share of total imports. Tanzania and Zambia lagged somewhat behind, together comprising a further 5.3%.

Among the main importing countries, Tanzania, with a CAGR of +19.3%, 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

The import price in Africa stood at $X per ton in 2022, rising by 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2013 when the import price increased by 19% against the previous year. Over the period under review, import prices reached the peak figure in 2022 and is likely to see steady growth in the near future.

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 Egypt ($X per ton), while Zambia ($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 (+10.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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