Kenya: Isocyanates Market 2024

Isocyanates Market Size in Kenya

In 2022, the Kenyan isocyanates market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption, however, continues to indicate a mild reduction. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Isocyanates Production in Kenya

In value terms, isocyanates production shrank modestly to $X in 2022 estimated in export price. In general, production continues to indicate a noticeable reduction. The pace of growth was the most pronounced in 2018 with an increase of X%. Isocyanates production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Isocyanates Exports

Exports from Kenya

In 2022, overseas shipments of isocyanates decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, enjoyed a measured increase. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, isocyanates exports declined markedly to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Uganda (X tons) was the main destination for isocyanates exports from Kenya, accounting for a X% share of total exports. Moreover, isocyanates exports to Uganda exceeded the volume sent to the second major destination, Democratic Republic of the Congo (X tons), eightfold. The third position in this ranking was taken by Rwanda (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Uganda stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (X% per year) and Rwanda (X% per year).

In value terms, Uganda ($X) remains the key foreign market for isocyanates exports from Kenya, comprising X% of total exports. The second position in the ranking was held by Democratic Republic of the Congo ($X), with an X% share of total exports. It was followed by Rwanda, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Uganda stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (X% per year) and Rwanda (X% per year).

Export Prices by Country

In 2022, the average isocyanates export price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price showed a perceptible reduction. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Democratic Republic of the Congo ($X per ton) and Rwanda ($X per ton), while the average price for exports to Burundi ($X per ton) and Uganda ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Uganda (X%), while the prices for the other major destinations experienced a decline.

Isocyanates Imports

Imports into Kenya

In 2022, approx. X tons of isocyanates were imported into Kenya; picking up by X% against 2021. Over the period under review, total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2019 indices. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, isocyanates imports contracted modestly to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), South Korea (X tons) and Saudi Arabia (X tons) were the main suppliers of isocyanates imports to Kenya, with a combined X% share of total imports. Poland, Hungary, Canada, Germany and Japan lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Saudi Arabia ($X) constituted the largest isocyanates suppliers to Kenya, with a combined X% share of total imports. Hungary, Poland, Canada, Germany and Japan lagged somewhat behind, together comprising a further X%.

Hungary, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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 isocyanates import price amounted to $X per ton, reducing by X% against the previous year. In general, the import price continues to indicate a perceptible slump. The growth pace was the most rapid in 2017 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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