SADC: Acetic Acid Market 2024

Acetic Acid Market Size in SADC

The SADC acetic acid market rose rapidly to $X in 2021, surging by 9% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Acetic Acid Production in SADC

In value terms, acetic acid production shrank to $X in 2021 estimated in export price. In general, production, however, saw a pronounced shrinkage. The pace of growth was the most pronounced in 2013 when the production volume increased by 19%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Acetic Acid Exports

Exports in SADC

In 2021, overseas shipments of acetic acid decreased by -3.6% to X tons, falling for the second consecutive year after two years of growth. Total exports indicated mild growth from 2012 to 2021: its volume increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -21.1% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 33% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, acetic acid exports soared to $X in 2021. In general, exports, however, saw a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

South Africa dominates exports structure, accounting for X tons, which was approx. 94% of total exports in 2021. The following exporters - Tanzania (X tons) and Mauritius (X tons) - each recorded a 3.4% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to acetic acid exports from South Africa stood at +1.8%. At the same time, Tanzania (+17.3%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing exporter exported in SADC, with a CAGR of +17.3% from 2012-2021. By contrast, Mauritius (-2.8%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest acetic acid supplier in SADC, comprising 93% of total exports. The second position in the ranking was taken by Tanzania ($X), with a 2.9% share of total exports.

In South Africa, acetic acid exports increased at an average annual rate of +8.2% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Tanzania (+24.7% per year) and Mauritius (+2.2% per year).

Export Prices by Country

In 2021, the export price in SADC amounted to $X per ton, surging by 58% against the previous year. Export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, acetic acid export price increased by +75.5% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Tanzania ($X per ton), while Mauritius ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tanzania (+6.3%), while the other leaders experienced more modest paces of growth.

Acetic Acid Imports

Imports in SADC

In 2021, overseas purchases of acetic acid were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports enjoyed resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, acetic acid imports soared to $X in 2021. Over the period under review, imports enjoyed a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

South Africa dominates imports structure, reaching X tons, which was approx. 77% of total imports in 2021. Tanzania (X tons) took a 6.6% share (based on physical terms) of total imports, which put it in second place, followed by Mauritius (5.7%) and Angola (5%). Madagascar (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to acetic acid imports into South Africa stood at +11.9%. At the same time, Tanzania (+13.2%), Angola (+6.5%), Madagascar (+1.8%) and Mauritius (+1.3%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing importer imported in SADC, with a CAGR of +13.2% from 2012-2021. From 2012 to 2021, the share of South Africa and Tanzania increased by +12 and +1.5 percentage points, respectively.

In value terms, South Africa ($X) constitutes the largest market for imported acetic acid in SADC, comprising 70% of total imports. The second position in the ranking was taken by Angola ($X), with a 9.8% share of total imports. It was followed by Mauritius, with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in South Africa totaled +13.2%. In the other countries, the average annual rates were as follows: Angola (+10.4% per year) and Mauritius (+3.5% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2021, rising by 48% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Angola ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Angola (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform