SADC: Industrial Oleic Acid Market 2024

Industrial Oleic Acid Market Size in SADC

In 2021, the SADC industrial oleic acid market decreased by -3% to $X, falling for the second year in a row after six years of growth. The total consumption indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -3.0% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Industrial Oleic Acid Production in SADC

In value terms, industrial oleic acid production dropped modestly to $X in 2021 estimated in export price. Over the period under review, production, however, posted resilient growth. The pace of growth appeared the most rapid in 2016 when the production volume increased by 25%. The level of production peaked at $X in 2020, and then dropped slightly in the following year.

Industrial Oleic Acid Exports

Exports in SADC

Industrial oleic acid exports fell sharply to X tons in 2021, which is down by -22.9% against the year before. Over the period under review, exports continue to indicate a perceptible shrinkage. The growth pace was the most rapid in 2020 with an increase of 1,439%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, industrial oleic acid exports dropped to $X in 2021. Overall, exports showed a noticeable reduction. The most prominent rate of growth was recorded in 2020 when exports increased by 939%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

South Africa prevails in exports structure, resulting at X tons, which was near 98% of total exports in 2021. Mozambique (X kg) followed a long way behind the leaders.

South Africa experienced a relatively flat trend pattern with regard to volume of exports of industrial oleic acid. At the same time, Mozambique (+7.8%) displayed positive paces of growth. Moreover, Mozambique emerged as the fastest-growing exporter exported in SADC, with a CAGR of +7.8% from 2012-2021. From 2012 to 2021, the share of South Africa increased by +34 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest industrial oleic acid supplier in SADC, comprising 99% of total exports. The second position in the ranking was taken by Mozambique ($X), with a 0.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in South Africa was relatively modest.

Export Prices by Country

In 2021, the export price in SADC amounted to $X per ton, growing by 20% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 161% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was South Africa ($X per ton), while Mozambique amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mozambique (+3.9%).

Industrial Oleic Acid Imports

Imports in SADC

In 2021, purchases abroad of industrial oleic acid decreased by -41.8% to X tons, falling for the second year in a row after three years of growth. In general, imports saw a abrupt slump. The most prominent rate of growth was recorded in 2017 when imports increased by 19% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, industrial oleic acid imports declined remarkably to $X in 2021. Overall, imports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2017 with an increase of 23%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

South Africa was the major importing country with an import of around X tons, which amounted to 76% of total imports. Mozambique (X tons) held a 17% share (based on physical terms) of total imports, which put it in second place, followed by Angola (4.9%). Democratic Republic of the Congo (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to industrial oleic acid imports into South Africa stood at -6.7%. At the same time, Mozambique (+82.6%) and Democratic Republic of the Congo (+42.8%) displayed positive paces of growth. Moreover, Mozambique emerged as the fastest-growing importer imported in SADC, with a CAGR of +82.6% from 2012-2021. By contrast, Angola (-8.3%) illustrated a downward trend over the same period. While the share of Mozambique (+17 p.p.) and Democratic Republic of the Congo (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of South Africa (-7.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported industrial oleic acid in SADC, comprising 83% of total imports. The second position in the ranking was taken by Angola ($X), with an 8.3% share of total imports. It was followed by Mozambique, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value in South Africa amounted to -7.0%. The remaining importing countries recorded the following average annual rates of imports growth: Angola (-9.7% per year) and Mozambique (+62.7% per year).

Import Prices by Country

In 2021, the import price in SADC amounted to $X per ton, jumping by 39% against the previous year. In general, the import price, however, showed a slight downturn. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Angola ($X per ton), while Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (-0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform