SADC: Smoothing Iron Market 2024

Smoothing Iron Market Size in SADC

The SADC smoothing iron market soared to $X in 2021, jumping by 20% against the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Smoothing Iron Production in SADC

In value terms, smoothing iron production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production recorded buoyant growth. The growth pace was the most rapid in 2018 when the production volume increased by 107% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Smoothing Iron Exports

Exports in SADC

After two years of decline, shipments abroad of electric smoothing irons increased by 2.3% to X units in 2021. Overall, exports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 102% against the previous year. The volume of export peaked at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, smoothing iron exports expanded slightly to $X in 2021. Over the period under review, exports, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by 18% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

South Africa (X units) represented roughly 99% of total exports in 2021.

South Africa was also the fastest-growing in terms of the electric smoothing irons exports, with a CAGR of +7.4% from 2012 to 2021. While the share of South Africa (+7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

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

In South Africa, smoothing iron exports declined by an average annual rate of -5.4% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in SADC amounted to $X per unit, increasing by 1.5% against the previous year. In general, the export price, however, saw a deep reduction. The pace of growth was the most pronounced in 2020 when the export price increased by 73% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, 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 2021, the rate of growth in terms of prices for South Africa amounted to -11.9% per year.

Smoothing Iron Imports

Imports in SADC

In 2021, approx. X units of electric smoothing irons were imported in SADC; picking up by 8.7% on 2020. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 17% against the previous year. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, smoothing iron imports stood at $X in 2021. In general, imports, however, saw a mild decline. The pace of growth was the most pronounced in 2019 with an increase of 12% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

South Africa prevails in imports structure, resulting at X units, which was near 73% of total imports in 2021. It was distantly followed by Tanzania (X units), generating a 9.3% share of total imports. Democratic Republic of the Congo (X units), Zimbabwe (X units), Angola (X units), Mauritius (X units) and Mozambique (X units) took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to smoothing iron imports into South Africa stood at -2.7%. At the same time, Tanzania (+30.4%), Democratic Republic of the Congo (+27.1%), Zimbabwe (+11.7%) and Mozambique (+2.4%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing importer imported in SADC, with a CAGR of +30.4% from 2012-2021. By contrast, Mauritius (-2.7%) and Angola (-9.8%) illustrated a downward trend over the same period. While the share of Tanzania (+8.6 p.p.), Democratic Republic of the Congo (+4 p.p.) and Zimbabwe (+2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Angola (-2.8 p.p.) and South Africa (-12.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported electric smoothing irons in SADC, comprising 56% of total imports. The second position in the ranking was taken by Tanzania ($X), with a 16% share of total imports. It was followed by Angola, with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value in South Africa stood at -4.1%. The remaining importing countries recorded the following average annual rates of imports growth: Tanzania (+24.5% per year) and Angola (-4.4% per year).

Import Prices by Country

The import price in SADC stood at $X per unit in 2021, rising by 2.2% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the import price increased by 6%. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Mauritius ($X per unit), while Mozambique ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Angola (+6.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform