Angola: Unvulcanized Rubber Market 2024

Unvulcanized Rubber Market Size in Angola

In 2022, the Angolan unvulcanized rubber market increased by 4.1% to $X, rising for the third consecutive year after two years of decline. In general, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +123.1% against 2019 indices. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Unvulcanized Rubber Exports

Exports from Angola

For the fourth year in a row, Angola recorded decline in shipments abroad of unvulcanized rubber and articles thereof, which decreased by -23.6% to X kg in 2022. In general, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2013 with an increase of 160%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, unvulcanized rubber exports expanded slightly to $X in 2022. Overall, exports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2014 with an increase of 86% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Portugal (X kg) was the main destination for unvulcanized rubber exports from Angola, with a 51% share of total exports. Moreover, unvulcanized rubber exports to Portugal exceeded the volume sent to the second major destination, Denmark (X kg), twofold. Sao Tome and Principe (X kg) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume to Portugal amounted to -19.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+21.1% per year) and Sao Tome and Principe (-25.2% per year).

In value terms, the largest markets for unvulcanized rubber exported from Angola were Portugal ($X), Sao Tome and Principe ($X) and Denmark ($X), with a combined 91% share of total exports.

Among the main countries of destination, Denmark, with a CAGR of +0.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average unvulcanized rubber export price amounted to $X per ton, with an increase of 33% against the previous year. Over the period under review, the export price continues to indicate a buoyant expansion. The growth pace was the most rapid in 2019 when the average export price increased by 106% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+79.9%), while the prices for the other major destinations experienced more modest paces of growth.

Unvulcanized Rubber Imports

Imports into Angola

In 2022, overseas purchases of unvulcanized rubber and articles thereof increased by 39% to X tons, rising for the third year in a row after two years of decline. Overall, imports posted a buoyant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 64%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, unvulcanized rubber imports declined to $X in 2022. In general, total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +90.1% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 64%. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest unvulcanized rubber supplier to Angola, accounting for a 79% share of total imports. Moreover, unvulcanized rubber imports from China exceeded the figures recorded by the second-largest supplier, Portugal (X tons), eightfold. The third position in this ranking was held by Belgium (X tons), with a 3.3% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +16.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (-4.4% per year) and Belgium (+11.2% per year).

In value terms, China ($X), Portugal ($X) and Belgium ($X) appeared to be the largest unvulcanized rubber suppliers to Angola, with a combined 68% share of total imports. South Africa and Germany lagged somewhat behind, together accounting for a further 11%.

In terms of the main suppliers, Germany, with a CAGR of +15.6%, saw the highest growth rate of 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

In 2022, the average unvulcanized rubber import price amounted to $X per ton, dropping by -36.9% against the previous year. In general, the import price continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2016 when the average import price increased by 38% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Africa ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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