Africa: Tall Oil Market 2024

Tall Oil Market Size in Africa

The African tall oil market reached $X in 2021, with an increase of 2.2% against the previous year. Over the period under review, consumption, however, recorded a perceptible slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Tall Oil Production in Africa

In value terms, tall oil production reached $X in 2021 estimated in export price. Over the period under review, production, however, recorded a perceptible shrinkage. The pace of growth appeared the most rapid in 2019 when the production volume increased by 17%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Tall Oil Exports

Exports in Africa

In 2021, exports of tall oil in Africa fell markedly to X tons, shrinking by -23.5% against the previous year's figure. Over the period under review, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 1,227% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, tall oil exports contracted notably to $X in 2021. Overall, exports, however, recorded resilient growth. The pace of growth was the most pronounced in 2015 when exports increased by 683% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

South Africa dominates exports structure, reaching X tons, which was near 92% of total exports in 2021. The following exporters - Egypt (X tons) and Tunisia (X tons) - together made up 7.8% of total exports.

South Africa was also the fastest-growing in terms of the tall oil exports, with a CAGR of +51.2% from 2012 to 2021. At the same time, Egypt (+1.2%) displayed positive paces of growth. By contrast, Tunisia (-3.7%) illustrated a downward trend over the same period. While the share of South Africa (+74 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Egypt (-28.7 p.p.) and Tunisia (-34.4 p.p.) displayed negative dynamics.

In value terms, South Africa ($X) remains the largest tall oil supplier in Africa, comprising 90% of total exports. The second position in the ranking was taken by Tunisia ($X), with a 5.9% share of total exports.

In South Africa, tall oil exports expanded at an average annual rate of +40.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Tunisia (-6.1% per year) and Egypt (-0.8% per year).

Export Prices by Country

In 2021, the export price in Africa amounted to $X per ton, increasing by 5.9% against the previous year. Over the period under review, the export price, however, continues to indicate a deep setback. The pace of growth appeared the most rapid in 2017 when the export price increased by 26% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: 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 Egypt (-2.0%), while the other leaders experienced a decline in the export price figures.

Tall Oil Imports

Imports in Africa

In 2021, after two years of decline, there was growth in supplies from abroad of tall oil, when their volume increased by 4.9% to X tons. Overall, imports, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2014 when imports increased by 50%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, tall oil imports rose rapidly to $X in 2021. Over the period under review, imports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 37%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Senegal (X tons) and South Africa (X tons) represented roughly 70% of total imports in 2021. It was distantly followed by Algeria (X tons) and Tunisia (X tons), together generating a 19% share of total imports. Nigeria (X tons) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Tunisia (with a CAGR of +23.5%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest tall oil importing markets in Africa were Senegal ($X), Algeria ($X) and South Africa ($X), together accounting for 70% of total imports. These countries were followed by Tunisia and Nigeria, which together accounted for a further 15%.

Among the main importing countries, Tunisia, with a CAGR of +26.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Africa stood at $X per ton in 2021, increasing by 8.4% against the previous year. Import price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, tall oil import price increased by +77.9% against 2017 indices. The pace of growth appeared the most rapid in 2013 when the import price increased by 48%. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2021.

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 Tunisia ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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