Africa: Toluene Market 2024

Toluene Market Size in Africa

In 2021, after three years of growth, there was significant decline in the African toluene market, when its value decreased by -11.9% to $X. The total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% 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 increased by +60.8% against 2012 indices. As a result, consumption reached the peak level of $X, and then declined in the following year.

Toluene Production in Africa

In value terms, toluene production reduced to $X in 2021 estimated in export price. The total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +83.3% against 2012 indices. The pace of growth appeared the most rapid in 2020 with an increase of 42% against the previous year. As a result, production reached the peak level of $X, and then fell in the following year.

Toluene Exports

Exports in Africa

In 2021, exports of toluene in Africa totaled X tons, with an increase of 14% against the previous year. Overall, exports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of 16% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, toluene exports reached $X in 2021. Over the period under review, exports, however, showed a noticeable descent. The growth pace was the most rapid in 2020 with an increase of 11%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Algeria prevails in exports structure, resulting at X tons, which was approx. 90% of total exports in 2021. The following exporters - South Africa (X tons), Kenya (X tons) and Egypt (X tons) - together made up 7.6% of total exports.

From 2012 to 2021, average annual rates of growth with regard to toluene exports from Algeria stood at +12.4%. At the same time, Egypt (+41.8%) and Kenya (+14.7%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing exporter exported in Africa, with a CAGR of +41.8% from 2012-2021. By contrast, South Africa (-10.8%) illustrated a downward trend over the same period. While the share of Algeria (+20 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Africa (-17.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Algeria ($X) remains the largest toluene supplier in Africa, comprising 59% of total exports. The second position in the ranking was held by Egypt ($X), with a 14% share of total exports. It was followed by South Africa, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in Algeria stood at -5.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Egypt (+47.4% per year) and South Africa (-15.2% per year).

Export Prices by Country

In 2021, the export price in Africa amounted to $X per ton, dropping by -6.9% against the previous year. Over the period under review, the export price showed a deep contraction. The pace of growth appeared the most rapid in 2020 when the export price decreased by -3.7%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kenya (+4.2%), while the other leaders experienced mixed trends in the export price figures.

Toluene Imports

Imports in Africa

For the third consecutive year, Africa recorded growth in supplies from abroad of toluene, which increased by 7.4% to X tons in 2021. Total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +56.9% against 2018 indices. The pace of growth was the most pronounced in 2020 with an increase of 24%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, toluene imports skyrocketed to $X in 2021. Over the period under review, 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

In 2021, South Africa (X tons), distantly followed by Nigeria (X tons), Morocco (X tons), Cote d'Ivoire (X tons) and Kenya (X tons) were the main importers of toluene, together generating 86% of total imports. Ghana (X tons) and Egypt (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 main importing countries, was attained by Egypt (with a CAGR of +24.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), Nigeria ($X) and Morocco ($X) were the countries with the highest levels of imports in 2021, with a combined 69% share of total imports. These countries were followed by Cote d'Ivoire, Kenya, Ghana and Egypt, which together accounted for a further 19%.

Among the main importing countries, Egypt, with a CAGR of +19.0%, recorded the highest rates of growth with regard to the value of imports, 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, with an increase of 21% against the previous year. In general, the import price, however, recorded a noticeable slump. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Ghana ($X per ton) and Kenya ($X per ton), while Cote d'Ivoire ($X per ton) and South Africa ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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