Kenya: Polyacetals Market 2024

Polyacetals Market Size in Kenya

In 2021, after two years of decline, there was significant growth in the Kenyan polyacetals market, when its value increased by 13% to $X. In general, consumption, however, recorded a remarkable increase. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Polyacetals Production in Kenya

In value terms, polyacetals production soared to $X in 2021 estimated in export price. In general, production, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 90% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Polyacetals Exports

Exports from Kenya

In 2021, approx. X tons of polyacetals in primary forms were exported from Kenya; surging by 546% on the year before. Overall, exports saw a significant increase. The pace of growth was the most pronounced in 2019 when exports increased by 4,006%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, polyacetals exports soared to $X in 2021. Over the period under review, exports showed a significant increase. The pace of growth was the most pronounced in 2019 with an increase of 4,396% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for polyacetals exports from Kenya, accounting for a 43% share of total exports. Moreover, polyacetals exports to the United States exceeded the volume sent to the second major destination, Nigeria (X tons), twofold. Slovakia (X kg) ranked third in terms of total exports with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (0.0% per year) and Slovakia (0.0% per year).

In value terms, the United States ($X) emerged as the key foreign market for polyacetals in primary forms exports from Kenya, comprising 46% of total exports. The second position in the ranking was taken by Nigeria ($X), with a 21% share of total exports. It was followed by Slovakia, with an 8.9% share.

From 2012 to 2021, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (0.0% per year) and Slovakia (0.0% per year).

Export Prices by Country

In 2021, the average polyacetals export price amounted to $X per ton, jumping by 107% against the previous year. Over the period under review, the export price continues to indicate a buoyant increase. The growth pace was the most rapid in 2016 when the average export price increased by 126%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, 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 Slovakia ($X per ton), while the average price for exports to Uganda ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Uganda (-2.3%).

Polyacetals Imports

Imports into Kenya

Polyacetals imports into Kenya reduced to X tons in 2021, declining by -10.1% against 2020. Overall, imports, however, posted a strong increase. The most prominent rate of growth was recorded in 2015 when imports increased by 234%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, polyacetals imports expanded significantly to $X in 2021. Over the period under review, imports, however, saw a temperate increase. The growth pace was the most rapid in 2015 when imports increased by 192%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, South Korea (X tons) constituted the largest polyacetals supplier to Kenya, with a 72% share of total imports. Moreover, polyacetals imports from South Korea exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. The third position in this ranking was held by Egypt (X tons), with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea amounted to +16.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+30.7% per year) and Egypt (+27.9% per year).

In value terms, South Korea ($X) constituted the largest supplier of polyacetals in primary forms to Kenya, comprising 64% of total imports. The second position in the ranking was taken by China ($X), with a 16% share of total imports. It was followed by Canada, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from South Korea amounted to +14.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+32.3% per year) and Canada (0.0% per year).

Import Prices by Country

In 2021, the average polyacetals import price amounted to $X per ton, rising by 21% against the previous year. Overall, the import price, however, saw a deep setback. The pace of growth was the most pronounced in 2016 an increase of 48% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+12.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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