SADC: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in SADC

In 2021, after two years of decline, there was significant growth in the SADC industrial stearic acid market, when its value increased by 12% to $X. Over the period under review, consumption, however, saw a mild decrease. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Industrial Stearic Acid Production in SADC

In value terms, industrial stearic acid production stood at $X in 2021 estimated in export price. In general, production recorded a slight descent. The pace of growth appeared the most rapid in 2018 with an increase of 15% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Industrial Stearic Acid Exports

Exports in SADC

In 2021, exports of industrial stearic acid in SADC rose notably to X tons, increasing by 11% on the year before. Overall, exports saw resilient growth. The pace of growth was the most pronounced in 2014 with an increase of 86%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, industrial stearic acid exports dropped slightly to $X in 2021. In general, exports, however, continue to indicate a abrupt downturn. The growth pace was the most rapid in 2014 with an increase of 276% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Zimbabwe prevails in exports structure, finishing at X tons, which was approx. 87% of total exports in 2021. It was distantly followed by South Africa (X tons), creating an 8.2% share of total exports. The following exporters - Tanzania (X tons) and Zambia (X tons) - each accounted for a 4.3% share of total exports.

Exports from Zimbabwe increased at an average annual rate of +39.9% from 2012 to 2021. At the same time, Tanzania (+52.6%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing exporter exported in SADC, with a CAGR of +52.6% from 2012-2021. By contrast, South Africa (-7.0%) and Zambia (-15.6%) illustrated a downward trend over the same period. Zimbabwe (+73 p.p.) and Tanzania (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while Zambia and South Africa saw its share reduced by -29.1% and -43.8% from 2012 to 2021, respectively.

In value terms, the largest industrial stearic acid supplying countries in SADC were Zimbabwe ($X), South Africa ($X) and Zambia ($X), with a combined 97% share of total exports. Tanzania lagged somewhat behind, accounting for a further 2.9%.

In terms of the main exporting countries, Tanzania, with a CAGR of +35.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in SADC stood at $X per ton in 2021, shrinking by -13.8% against the previous year. Overall, the export price showed a dramatic decline. The growth pace was the most rapid in 2014 an increase of 102%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was South Africa ($X per ton), while Zimbabwe ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Zimbabwe (-6.6%), while the other leaders experienced a decline in the export price figures.

Industrial Stearic Acid Imports

Imports in SADC

In 2021, supplies from abroad of industrial stearic acid increased by 19% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, showed a perceptible setback. The pace of growth was the most pronounced in 2017 with an increase of 27% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, industrial stearic acid imports soared to $X in 2021. In general, imports, however, recorded a mild contraction. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

South Africa was the largest importer of industrial stearic acid in SADC, with the volume of imports finishing at X tons, which was near 62% of total imports in 2021. It was distantly followed by Democratic Republic of the Congo (X tons) and Tanzania (X tons), together generating a 31% share of total imports. The following importers - Angola (X tons) and Mozambique (X tons) - each finished at a 4.1% share of total imports.

Imports into South Africa decreased at an average annual rate of -3.1% from 2012 to 2021. At the same time, Tanzania (+15.3%), Democratic Republic of the Congo (+13.1%), Angola (+11.1%) and Mozambique (+1.0%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing importer imported in SADC, with a CAGR of +15.3% from 2012-2021. While the share of Democratic Republic of the Congo (+17 p.p.) and Tanzania (+5.4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of South Africa (-5.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported industrial stearic acid in SADC, comprising 65% of total imports. The second position in the ranking was held by Democratic Republic of the Congo ($X), with a 23% share of total imports. It was followed by Tanzania, with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in South Africa stood at -2.4%. In the other countries, the average annual rates were as follows: Democratic Republic of the Congo (+13.6% per year) and Tanzania (+10.1% per year).

Import Prices by Country

In 2021, the import price in SADC amounted to $X per ton, increasing by 34% against the previous year. Import price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial stearic acid import price increased by +49.8% against 2019 indices. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: 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 Mozambique (+0.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform