SADC: Chromates Market 2024

Chromates Market Size in SADC

In 2022, after two years of decline, there was significant growth in the SADC chromates market, when its value increased by 14% to $X. In general, consumption, however, saw a abrupt contraction. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Chromates Production in SADC

In value terms, chromates production stood at $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 5.7% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Chromates Exports

Exports in SADC

In 2022, after two years of growth, there was decline in shipments abroad of chromates, dichromates and peroxochromates, when their volume decreased by -0.8% to X tons. Total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +16.4% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of 72%. Over the period under review, the exports attained the maximum at X tons in 2021, and then shrank slightly in the following year.

In value terms, chromates exports skyrocketed to $X in 2022. Total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +55.2% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 48% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

South Africa (X tons) represented roughly 99.9% of total exports in 2022.

South Africa was also the fastest-growing in terms of the chromates, dichromates and peroxochromates exports, with a CAGR of +6.5% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest chromates supplier in SADC.

In South Africa, chromates exports expanded at an average annual rate of +6.6% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in SADC amounted to $X per ton, growing by 39% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the export prices attained the maximum at $X per ton in 2013; afterwards, it flattened through to 2022.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to +0.1% per year.

Chromates Imports

Imports in SADC

In 2022, purchases abroad of chromates, dichromates and peroxochromates was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Total imports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 60%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, chromates imports soared to $X in 2022. In general, imports saw a prominent increase. The pace of growth was the most pronounced in 2017 when imports increased by 88%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

South Africa prevails in imports structure, accounting for X tons, which was approx. 68% of total imports in 2022. Malawi (X tons) held a 9.2% share (based on physical terms) of total imports, which put it in second place, followed by Zambia (8.6%) and Tanzania (5.2%). The following importers - Madagascar (X tons) and Democratic Republic of the Congo (X tons) - together made up 6.4% of total imports.

Imports into South Africa increased at an average annual rate of +10.5% from 2012 to 2022. At the same time, Democratic Republic of the Congo (+32.7%), Madagascar (+22.8%), Zambia (+20.5%) and Malawi (+1.7%) displayed positive paces of growth. Moreover, Democratic Republic of the Congo emerged as the fastest-growing importer imported in SADC, with a CAGR of +32.7% from 2012-2022. By contrast, Tanzania (-6.3%) illustrated a downward trend over the same period. South Africa (+38 p.p.), Zambia (+7 p.p.), Madagascar (+3.2 p.p.) and Democratic Republic of the Congo (+2.5 p.p.) significantly strengthened its position in terms of the total imports, while Tanzania saw its share reduced by -7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported chromates, dichromates and peroxochromates in SADC, comprising 82% of total imports. The second position in the ranking was held by Malawi ($X), with a 6.3% share of total imports. It was followed by Madagascar, with a 4.3% share.

From 2012 to 2022, the average annual growth rate of value in South Africa amounted to +16.2%. The remaining importing countries recorded the following average annual rates of imports growth: Malawi (+0.3% per year) and Madagascar (+28.2% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2022, with a decrease of -2.5% against the previous year. In general, the import price, however, saw prominent growth. The most prominent rate of growth was recorded in 2020 an increase of 36% against the previous year. The level of import peaked at $X per ton in 2021, and then reduced modestly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Africa ($X per ton), while Zambia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform