Kenya: Phenols Market 2024

Phenols Market Size in Kenya

The Kenyan phenols market dropped to $X in 2022, waning by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Phenols Production in Kenya

In value terms, phenols production contracted slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Phenols Exports

Exports from Kenya

In 2022, shipments abroad of phenols increased by X% to X tons, rising for the second consecutive year after four years of decline. Over the period under review, exports showed slight growth. The most prominent rate of growth was recorded in 2016 when exports increased by X%. 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, phenols exports soared to $X in 2022. In general, exports continue to indicate a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Uganda (X tons) was the main destination for phenols exports from Kenya, accounting for a X% share of total exports. Moreover, phenols exports to Uganda exceeded the volume sent to the second major destination, Tanzania (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Uganda totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (X% per year) and Burundi (X% per year).

In value terms, Uganda ($X), Tanzania ($X) and Burundi ($X) constituted the largest markets for phenols exported from Kenya worldwide.

Uganda, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average phenols export price stood at $X per ton in 2022, surging by X% against the previous year. Overall, the export price enjoyed a strong increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Tanzania ($X per ton), while the average price for exports to Burundi ($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 Tanzania (X%), while the prices for the other major destinations experienced mixed trend patterns.

Phenols Imports

Imports into Kenya

In 2022, supplies from abroad of phenols decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, imports attained the peak of X tons, and then dropped remarkably in the following year.

In value terms, phenols imports declined remarkably to $X in 2022. In general, imports recorded a mild descent. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then contracted dramatically in the following year.

Imports by Country

In 2022, South Africa (X tons) constituted the largest supplier of phenols to Kenya, with a X% share of total imports. Moreover, phenols imports from South Africa exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), threefold. Belgium (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from South Africa amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Belgium (X% per year).

In value terms, the largest phenols suppliers to Kenya were India ($X), South Africa ($X) and China ($X), with a combined X% share of total imports. The UK, Indonesia, Belgium, Malaysia and the United States lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Malaysia, with a CAGR of X%, 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 average phenols import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 the UK ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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