SADC: Azo- Or Azoxy-Compounds Market 2024

Azo- Or Azoxy-Compounds Market Size in SADC

The SADC azo- or azoxy-compounds market amounted to $X in 2022, therefore, remained relatively stable against the previous year. The total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.6% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Azo- Or Azoxy-Compounds Production in SADC

In value terms, azo- or azoxy-compounds production stood at $X in 2022 estimated in export price. In general, production, however, saw a buoyant increase. The growth pace was the most rapid in 2018 when the production volume increased by 33%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Azo- Or Azoxy-Compounds Exports

Exports in SADC

In 2022, the amount of diazo-, azo- or azoxy-compounds exported in SADC shrank notably to X tons, with a decrease of -59% on 2021. In general, exports, however, saw a strong increase. The pace of growth appeared the most rapid in 2013 when exports increased by 2,407%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, azo- or azoxy-compounds exports reduced rapidly to $X in 2022. Overall, exports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2013 when exports increased by 2,050% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The shipments of the one major exporters of diazo-, azo- or azoxy-compounds, namely South Africa, represented more than two-thirds of total export.

South Africa was also the fastest-growing in terms of the diazo-, azo- or azoxy-compounds exports, with a CAGR of +10.4% from 2012 to 2022. From 2012 to 2022, the share of South Africa increased by +22 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest azo- or azoxy-compounds supplier in SADC.

From 2012 to 2022, the average annual growth rate of value in South Africa stood at +8.3%.

Export Prices by Country

In 2022, the export price in SADC amounted to $X per ton, jumping by 16% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the export price increased by 121%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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 -1.9% per year.

Azo- Or Azoxy-Compounds Imports

Imports in SADC

In 2022, azo- or azoxy-compounds imports in SADC shrank to X tons, declining by -12.8% on the previous year's figure. Overall, imports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 19% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, azo- or azoxy-compounds imports soared to $X in 2022. Over the period under review, imports recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 128%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Africa represented the major importing country with an import of around X tons, which accounted for 73% of total imports. It was distantly followed by Tanzania (X tons) and Zambia (X tons), together constituting a 24% share of total imports.

Imports into South Africa decreased at an average annual rate of -1.3% from 2012 to 2022. At the same time, Zambia (+45.8%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing importer imported in SADC, with a CAGR of +45.8% from 2012-2022. By contrast, Tanzania (-19.9%) illustrated a downward trend over the same period. South Africa (+46 p.p.) and Zambia (+11 p.p.) significantly strengthened its position in terms of the total imports, while Tanzania saw its share reduced by -25.4% from 2012 to 2022, respectively.

In value terms, South Africa ($X) constitutes the largest market for imported diazo-, azo- or azoxy-compounds in SADC, comprising 94% of total imports. The second position in the ranking was taken by Zambia ($X), with a 2.6% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa was relatively modest. In the other countries, the average annual rates were as follows: Zambia (+39.5% per year) and Tanzania (-24.4% per year).

Import Prices by Country

In 2022, the import price in SADC amounted to $X per ton, growing by 78% against the previous year. Overall, the import price saw a remarkable increase. The pace of growth was the most pronounced in 2020 when the import price increased by 152% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is likely to continue growth in the immediate term.

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 ($X per ton), while Tanzania ($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 (+2.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform