Kenya: Salicylic Acid Market 2024

Salicylic Acid Market Size in Kenya

The Kenyan salicylic acid market surged to $X in 2021, picking up by 66% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a strong increase. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Salicylic Acid Exports

Exports from Kenya

In 2021, shipments abroad of salicylic acid and its salts decreased by -18.6% to X kg, falling for the third year in a row after five years of growth. Overall, exports, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2017 with an increase of 1,624% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, salicylic acid exports dropped markedly to $X in 2021. In general, exports, however, showed a significant increase. The growth pace was the most rapid in 2017 when exports increased by 2,244% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Democratic Republic of the Congo (X kg) was the main destination for salicylic acid exports from Kenya, with a 145% share of total exports. Moreover, salicylic acid exports to Democratic Republic of the Congo exceeded the volume sent to the second major destination, Tanzania (X kg), sevenfold. Uganda (X kg) ranked third in terms of total exports with a 2.9% share.

From 2012 to 2021, the average annual growth rate of volume to Democratic Republic of the Congo stood at +165.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (-25.0% per year) and Uganda (-34.4% per year).

In value terms, Tanzania ($X) remains the key foreign market for salicylic acid and its salts exports from Kenya, comprising 122% of total exports. The second position in the ranking was held by Uganda ($X), with a 17% share of total exports. It was followed by Democratic Republic of the Congo, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Tanzania totaled -8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (-2.0% per year) and Democratic Republic of the Congo (+2.5% per year).

Export Prices by Country

In 2021, the average salicylic acid export price amounted to $X per ton, picking up by 3.1% against the previous year. Overall, the export price saw prominent growth. The most prominent rate of growth was recorded in 2013 an increase of 106%. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, the 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 Tanzania ($X per ton), while the average price for exports to Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Uganda (+49.5%), while the prices for the other major destinations experienced more modest paces of growth.

Salicylic Acid Imports

Imports into Kenya

In 2021, approx. X tons of salicylic acid and its salts were imported into Kenya; increasing by 70% on 2020. Over the period under review, imports continue to indicate a strong increase. The growth pace was the most rapid in 2017 with an increase of 208% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, salicylic acid imports soared to $X in 2021. In general, imports posted a strong increase. The most prominent rate of growth was recorded in 2019 when imports increased by 187% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest salicylic acid supplier to Kenya, with a 66% share of total imports. Moreover, salicylic acid imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The third position in this ranking was held by Italy (X kg), with a 5.5% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +28.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+1.0% per year) and Italy (+3.2% per year).

In value terms, the largest salicylic acid suppliers to Kenya were China ($X), India ($X) and Italy ($X), with a combined 90% share of total imports.

China, with a CAGR of +37.4%, saw the highest growth rate of the value of imports, among 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 2021, the average salicylic acid import price amounted to $X per ton, with a decrease of -6.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2016 when the average import price increased by 24%. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+17.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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