Africa: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in Africa

The African synthetic rubber market rose sharply to $X in 2021, picking up by 12% against the previous year. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -2.0% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Synthetic Rubber Production in Africa

In value terms, synthetic rubber production surged to $X in 2021 estimated in export price. Over the period under review, production recorded a pronounced increase. The most prominent rate of growth was recorded in 2016 with an increase of 98% against the previous year. Over the period under review, production attained the peak level in 2021 and is likely to continue growth in years to come.

Synthetic Rubber Exports

Exports in Africa

In 2021, exports of synthetic rubber in Africa fell slightly to X tons, waning by -1.8% compared with the year before. In general, exports faced a sharp shrinkage. The pace of growth appeared the most rapid in 2014 when exports increased by 9.8% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, synthetic rubber exports declined remarkably to $X in 2021. Over the period under review, exports showed a precipitous slump. The pace of growth was the most pronounced in 2016 when exports increased by 8.2%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

South Africa (X tons) represented roughly 98% of total exports in 2021.

South Africa was also the fastest-growing in terms of the synthetic rubber exports, with a CAGR of -20.9% from 2012 to 2021. South Africa (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest synthetic rubber supplier in Africa.

From 2012 to 2021, the average annual rate of growth in terms of value in South Africa amounted to -35.7%.

Export Prices by Country

In 2021, the export price in Africa amounted to $X per ton, waning by -16.3% against the previous year. Over the period under review, the export price saw a deep contraction. The pace of growth appeared the most rapid in 2017 an increase of 30%. 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.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2021, the rate of growth in terms of prices for South Africa amounted to -18.7% per year.

Synthetic Rubber Imports

Imports in Africa

In 2021, supplies from abroad of synthetic rubber decreased by -17% to X tons, falling for the second consecutive year after three years of growth. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 88%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, synthetic rubber imports rose slightly to $X in 2021. Overall, imports showed a pronounced decline. The pace of growth appeared the most rapid in 2017 when imports increased by 18% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

South Africa represented the main importing country with an import of about X tons, which resulted at 45% of total imports. Egypt (X tons) ranks second in terms of the total imports with a 22% share, followed by Algeria (7.3%), Morocco (6.9%) and Nigeria (5.2%). Tunisia (X tons) and Libya (X tons) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to synthetic rubber imports into South Africa stood at +3.4%. At the same time, Algeria (+6.8%) and Morocco (+2.5%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing importer imported in Africa, with a CAGR of +6.8% from 2012-2021. By contrast, Egypt (-2.5%), Tunisia (-3.1%), Nigeria (-3.8%) and Libya (-4.1%) illustrated a downward trend over the same period. South Africa (+9.3 p.p.) and Algeria (+3 p.p.) significantly strengthened its position in terms of the total imports, while Libya, Tunisia, Nigeria and Egypt saw its share reduced by -1.8%, -1.9%, -2.8% and -7.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported synthetic rubber in Africa, comprising 47% of total imports. The second position in the ranking was held by Egypt ($X), with a 21% share of total imports. It was followed by Algeria, with a 7.9% share.

From 2012 to 2021, the average annual growth rate of value in South Africa stood at -2.8%. The remaining importing countries recorded the following average annual rates of imports growth: Egypt (-7.7% per year) and Algeria (+5.8% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2021, increasing by 25% against the previous year. Over the period under review, the import price, however, saw a noticeable setback. The growth pace was the most rapid in 2014 an increase of 41%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, 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 Morocco ($X per ton), while Libya ($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 (+0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :