Africa: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in Africa

In 2021, the African synthetic rubber (excluding latex) market was finally on the rise to reach $X after two years of decline. In general, consumption, however, continues to indicate a mild contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Synthetic Rubber (Excluding Latex) in Africa

In value terms, synthetic rubber (excluding latex) production expanded markedly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a noticeable slump. The pace of growth appeared the most rapid in 2017 with an increase of 11% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Synthetic Rubber (Excluding Latex)

Exports in Africa

In 2021, shipments abroad of synthetic rubber (excluding latex) was finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. Overall, exports, however, continue to indicate a deep contraction. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, synthetic rubber (excluding latex) exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a dramatic descent. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Egypt (X tons), Cote d'Ivoire (X tons), Swaziland (X tons), South Africa (X tons) and Ghana (X tons) represented roughly 87% of total exports in 2021. It was distantly followed by Tanzania (X tons), mixing up a 5.5% share of total exports. Liberia (X tons) took a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Egypt (with a CAGR of +25.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic rubber (excluding latex) supplying countries in Africa were Cote d'Ivoire ($X), Egypt ($X) and South Africa ($X), with a combined 57% share of total exports. These countries were followed by Ghana, Swaziland, Tanzania and Liberia, which together accounted for a further 30%.

Among the main exporting countries, Tanzania, with a CAGR of +19.6%, recorded the highest rates of growth with regard to the value of exports, 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, rising by 3.8% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt downturn. The growth pace was the most rapid in 2017 an increase of 29%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a 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 Tanzania ($X per ton), while Swaziland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tanzania (-0.1%), while the other leaders experienced a decline in the export price figures.

Imports of Synthetic Rubber (Excluding Latex)

Imports in Africa

Synthetic rubber (excluding latex) imports surged to X tons in 2021, growing by 23% compared with 2020. Total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 31% against the previous year. The volume of import peaked in 2021 and is likely to see steady growth in the near future.

In value terms, synthetic rubber (excluding latex) imports soared to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

South Africa was the major importing country with an import of around X tons, which resulted at 59% of total imports. Egypt (X tons) held the second position in the ranking, followed by Algeria (X tons), Morocco (X tons) and Tunisia (X tons). All these countries together took approx. 30% share of total imports. Nigeria (X tons) and Kenya (X tons) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to synthetic rubber (excluding latex) imports into South Africa stood at +9.5%. At the same time, Algeria (+23.2%), Morocco (+6.2%), Tunisia (+3.7%) and Nigeria (+3.5%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing importer imported in Africa, with a CAGR of +23.2% from 2012-2021. By contrast, Kenya (-3.1%) and Egypt (-5.8%) illustrated a downward trend over the same period. South Africa (+17 p.p.) and Algeria (+5.8 p.p.) significantly strengthened its position in terms of the total imports, while Kenya and Egypt saw its share reduced by -2.8% and -17.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported synthetic rubber (excluding latex) in Africa, comprising 56% of total imports. The second position in the ranking was held by Egypt ($X), with a 12% share of total imports. It was followed by Algeria, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value in South Africa stood at +1.8%. In the other countries, the average annual rates were as follows: Egypt (-9.8% per year) and Algeria (+19.8% per year).

Import Prices by Country

In 2021, the import price in Africa amounted to $X per ton, increasing by 21% against the previous year. In general, the import price, however, continues to indicate a deep slump. The growth pace was the most rapid in 2016 when the import price increased by 28% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a 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 Morocco ($X per ton), while Tunisia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform