SADC: Metal Wool Market 2024

Metal Wool Market Size in SADC

In 2022, the SADC metal wool market increased by 4.9% to $X, rising for the second year in a row after two years of decline. The total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +50.1% against 2020 indices. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Metal Wool Production in SADC

In value terms, metal wool production reduced modestly to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 12% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Metal Wool Exports

Exports in SADC

Metal wool exports dropped to X tons in 2022, standing approx. at 2021. In general, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 28% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal wool exports shrank modestly to $X in 2022. Overall, exports recorded a pronounced decrease. The pace of growth appeared the most rapid in 2018 when exports increased by 22% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from South Africa (X tons), together resulting at 97% of total export.

South Africa was also the fastest-growing in terms of the iron or steel wool exports, with a CAGR of -4.4% from 2012 to 2022. South Africa (+23 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in South Africa totaled -3.3%.

Export Prices by Country

In 2022, the export price in SADC amounted to $X per ton, approximately mirroring the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2015 when the export price increased by 37% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the export prices remained 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 +1.1% per year.

Metal Wool Imports

Imports in SADC

Metal wool imports soared to X tons in 2022, jumping by 17% compared with the previous year's figure. In general, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 236% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, metal wool imports dropped modestly to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 85%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

South Africa prevails in imports structure, resulting at X tons, which was near 87% of total imports in 2022. The following importers - Mozambique (X tons) and Angola (X tons) - together made up 5.6% of total imports.

South Africa was also the fastest-growing in terms of the iron or steel wool imports, with a CAGR of +35.6% from 2012 to 2022. At the same time, Mozambique (+20.6%) displayed positive paces of growth. By contrast, Angola (-11.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Africa increased by +69 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported iron or steel wool in SADC, comprising 53% of total imports. The second position in the ranking was held by Angola ($X), with an 8.9% share of total imports.

In South Africa, metal wool imports expanded at an average annual rate of +14.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Angola (-14.3% per year) and Mozambique (+11.8% per year).

Import Prices by Country

In 2022, the import price in SADC amounted to $X per ton, waning by -17.5% against the previous year. Over the period under review, the import price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 25%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Angola ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Angola (-3.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform