Africa: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in Africa

The African synthetic latex rubber market was estimated at $X in 2021, stabilizing at the previous year. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Synthetic Latex Rubber Production in Africa

In value terms, synthetic latex rubber production expanded modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by 15% against the previous year. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Synthetic Latex Rubber Exports

Exports in Africa

In 2021, after two years of growth, there was significant decline in overseas shipments of synthetic latex rubber, when their volume decreased by -35% to X tons. Overall, exports saw a abrupt contraction. The growth pace was the most rapid in 2014 with an increase of 97%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, synthetic latex rubber exports stood at $X in 2021. Over the period under review, exports faced a abrupt downturn. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

South Africa was the major exporter of synthetic latex rubber in Africa, with the volume of exports reaching X tons, which was approx. 45% of total exports in 2021. Ghana (X tons) ranks second in terms of the total exports with a 16% share, followed by Egypt (11%), Morocco (8.3%), Liberia (8.1%) and Tunisia (4.6%). Cameroon (X tons) took a relatively small share of total exports.

Exports from South Africa increased at an average annual rate of +2.2% from 2012 to 2021. At the same time, Morocco (+81.7%), Tunisia (+9.1%) and Ghana (+4.9%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing exporter exported in Africa, with a CAGR of +81.7% from 2012-2021. Egypt experienced a relatively flat trend pattern. By contrast, Liberia (-19.8%) and Cameroon (-23.4%) illustrated a downward trend over the same period. While the share of South Africa (+27 p.p.), Ghana (+11 p.p.), Morocco (+8.2 p.p.), Egypt (+5.7 p.p.) and Tunisia (+3.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Cameroon (-9.4 p.p.) and Liberia (-20.6 p.p.) displayed negative dynamics.

In value terms, the largest synthetic latex rubber supplying countries in Africa were South Africa ($X), Tunisia ($X) and Ghana ($X), with a combined 74% share of total exports. Morocco, Liberia, Egypt and Cameroon lagged somewhat behind, together accounting for a further 20%.

Morocco, with a CAGR of +82.7%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Africa stood at $X per ton in 2021, with an increase of 76% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable reduction. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cameroon (+1.1%), while the other leaders experienced mixed trends in the export price figures.

Synthetic Latex Rubber Imports

Imports in Africa

In 2021, after three years of decline, there was significant growth in overseas purchases of synthetic latex rubber, when their volume increased by 25% to X tons. Overall, imports showed moderate growth. The pace of growth appeared the most rapid in 2013 with an increase of 218%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, synthetic latex rubber imports surged to $X in 2021. In general, imports showed a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Egypt (X tons) and South Africa (X tons) represented the key importers of synthetic latex rubber in 2021, finishing at near 28% and 23% of total imports, respectively. Libya (X tons) ranks next in terms of the total imports with a 14% share, followed by Algeria (12%) and Nigeria (4.9%). Morocco (X tons) and Kenya (X tons) held a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Kenya (with a CAGR of +9.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), Egypt ($X) and Algeria ($X) were the countries with the highest levels of imports in 2021, together accounting for 68% of total imports.

South Africa, with a CAGR of +8.6%, saw the highest rates of growth with regard to 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

In 2021, the import price in Africa amounted to $X per ton, rising by 17% against the previous year. In general, the import price, however, recorded a perceptible decrease. The pace of growth was the most pronounced in 2014 an increase of 134% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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 South Africa ($X per ton), while Kenya ($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 (-0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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