Africa: Styrene Market 2024

Styrene Market Size in Africa

The African styrene market rose markedly to $X in 2021, picking up by 6.2% against the previous year. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Styrene Production in Africa

In value terms, styrene production rose modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2013 when the production volume increased by 17% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Styrene Exports

Exports in Africa

In 2021, exports of styrene in Africa skyrocketed to X tons, picking up by 71% on the previous year's figure. Overall, exports, however, faced a precipitous decline. The pace of growth was the most pronounced in 2017 with an increase of 807% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, styrene exports skyrocketed to $X in 2021. In general, exports, however, showed a precipitous decline. The most prominent rate of growth was recorded in 2017 when exports increased by 634% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Egypt (X tons) and Tunisia (X tons) represented roughly 79% of total exports in 2021. It was distantly followed by South Africa (X tons), mixing up a 20% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Tunisia (with a CAGR of +17.0%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Tunisia ($X), Egypt ($X) and South Africa ($X) constituted the countries with the highest levels of exports in 2021, with a combined 99% share of total exports.

In terms of the main exporting countries, Tunisia, with a CAGR of +19.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Africa stood at $X per ton in 2021, with a decrease of -11.5% against the previous year. Export price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, styrene export price decreased by -30.6% against 2019 indices. The pace of growth appeared the most rapid in 2018 an increase of 84%. Over the period under review, the export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+2.1%), while the other leaders experienced more modest paces of growth.

Styrene Imports

Imports in Africa

In 2021, approx. X tons of styrene were imported in Africa; jumping by 26% against 2020. The total import volume increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, styrene imports surged to $X in 2021. Total imports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

South Africa was the largest importer of styrene in Africa, with the volume of imports finishing at X tons, which was approx. 50% of total imports in 2021. Egypt (X tons) ranks second in terms of the total imports with a 30% share, followed by Tunisia (7.8%) and Nigeria (5.5%). Morocco (X tons) and Algeria (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Algeria (with a CAGR of +57.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), Egypt ($X) and Tunisia ($X) constituted the countries with the highest levels of imports in 2021, with a combined 85% share of total imports. These countries were followed by Nigeria, Morocco and Algeria, which together accounted for a further 14%.

Algeria, with a CAGR of +49.3%, saw 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 2021, rising by 56% against the previous year. Overall, the import price, however, recorded a slight shrinkage. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Morocco ($X per ton) and Nigeria ($X per ton), while South Africa ($X per ton) and Egypt ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Morocco (-0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :