Africa: Tyre Cord Fabric Market 2024

Tyre Cord Fabric Market Size in Africa

The African tyre cord fabric market stood at $X in 2021, growing by 4% against the previous year. The total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +8.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -3.4% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Tyre Cord Fabric Production in Africa

In value terms, tyre cord fabric production rose to $X in 2021 estimated in export price. The total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +8.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.4% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of 17% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Tyre Cord Fabric Exports

Exports in Africa

In 2021, exports of tyre cord fabric of high tenacity yarn in Africa shrank to X tons, falling by -9.6% against the year before. Over the period under review, exports showed a deep downturn. The growth pace was the most rapid in 2014 with an increase of 58% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, tyre cord fabric exports reduced to $X in 2021. Overall, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 41% against the previous year. 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

Egypt prevails in exports structure, accounting for X tons, which was near 92% of total exports in 2021. It was distantly followed by South Africa (X tons), constituting a 7.5% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to tyre cord fabric exports from Egypt stood at -12.7%. South Africa (-8.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of South Africa increased by +2.5 percentage points.

In value terms, Egypt ($X) remains the largest tyre cord fabric supplier in Africa, comprising 96% of total exports. The second position in the ranking was held by South Africa ($X), with a 2.8% share of total exports.

In Egypt, tyre cord fabric exports plunged by an average annual rate of -14.3% over the period from 2012-2021.

Export Prices by Country

The export price in Africa stood at $X per ton in 2021, standing approx. at the previous year. In general, the export price, however, continues to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2013 an increase of 5.1%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while South Africa totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (-1.9%).

Tyre Cord Fabric Imports

Imports in Africa

In 2021, imports of tyre cord fabric of high tenacity yarn in Africa amounted to X tons, with an increase of 14% against the previous year. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 33%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, tyre cord fabric imports surged to $X in 2021. Overall, imports, however, recorded a perceptible contraction. 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 dominates imports structure, amounting to X tons, which was approx. 65% of total imports in 2021. It was distantly followed by Tunisia (X tons), Nigeria (X tons) and Ethiopia (X tons), together generating a 20% share of total imports. Uganda (X tons), Algeria (X tons) and Kenya (X tons) followed a long way behind the leaders.

South Africa experienced a relatively flat trend pattern with regard to volume of imports of tyre cord fabric of high tenacity yarn. At the same time, Uganda (+96.2%), Algeria (+61.7%), Ethiopia (+9.0%) and Tunisia (+7.8%) displayed positive paces of growth. Moreover, Uganda emerged as the fastest-growing importer imported in Africa, with a CAGR of +96.2% from 2012-2021. By contrast, Kenya (-2.4%) and Nigeria (-3.5%) illustrated a downward trend over the same period. Uganda (+4.1 p.p.), Tunisia (+3.9 p.p.), Algeria (+3.5 p.p.) and Ethiopia (+2.6 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria and South Africa saw its share reduced by -2.6% and -5.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported tyre cord fabric of high tenacity yarn in Africa, comprising 70% of total imports. The second position in the ranking was held by Tunisia ($X), with a 9% share of total imports. It was followed by Ethiopia, with a 5.5% share.

In South Africa, tyre cord fabric imports declined by an average annual rate of -4.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Tunisia (+3.5% per year) and Ethiopia (+8.2% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2021, surging by 22% against the previous year. Over the period under review, the import price, however, recorded a perceptible curtailment. Over the period under review, import prices reached 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 Algeria ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Algeria (+5.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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