SADC: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in SADC

In 2021, after two years of growth, there was significant decline in the SADC iron oxide pigment market, when its value decreased by -24.5% to $X. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then fell markedly in the following year.

Iron Oxide Pigment Production in SADC

In value terms, iron oxide pigment production fell slightly to $X in 2021 estimated in export price. In general, production, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of 39% against the previous year. The level of production peaked at $X in 2020, and then contracted modestly in the following year.

Iron Oxide Pigment Exports

Exports in SADC

In 2021, approx. X tons of iron oxide pigments were exported in SADC; jumping by 310% compared with the previous year. Overall, exports showed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, iron oxide pigment exports soared to $X in 2021. In general, exports posted strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the one major exporters of iron oxide pigments, namely South Africa, represented more than two-thirds of total export.

South Africa was also the fastest-growing in terms of the iron oxide pigments exports, with a CAGR of +21.9% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

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

In South Africa, iron oxide pigment exports expanded at an average annual rate of +15.2% over the period from 2012-2021.

Export Prices by Country

The export price in SADC stood at $X per ton in 2021, waning by -33.9% against the previous year. In general, the export price showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 when the export price increased by 91%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, 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 2021, the rate of growth in terms of prices for South Africa amounted to -5.5% per year.

Iron Oxide Pigment Imports

Imports in SADC

In 2021, supplies from abroad of iron oxide pigments increased by 25% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports saw a resilient increase. The pace of growth appeared the most rapid in 2016 with an increase of 84% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, iron oxide pigment imports surged to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 77% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the near future.

Imports by Country

South Africa was the main importing country with an import of about X tons, which reached 71% of total imports. Namibia (X tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Tanzania (6.1%). The following importers - Zimbabwe (X tons), Democratic Republic of the Congo (X tons) and Botswana (X tons) - together made up 7.8% of total imports.

Imports into South Africa increased at an average annual rate of +7.0% from 2012 to 2021. At the same time, Namibia (+17.9%), Democratic Republic of the Congo (+17.7%), Botswana (+15.0%), Zimbabwe (+10.4%) and Tanzania (+5.8%) displayed positive paces of growth. Moreover, Namibia emerged as the fastest-growing importer imported in SADC, with a CAGR of +17.9% from 2012-2021. While the share of Namibia (+6.1 p.p.) and Democratic Republic of the Congo (+1.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of South Africa (-5.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported iron oxide pigments in SADC, comprising 74% of total imports. The second position in the ranking was taken by Namibia ($X), with a 6.6% share of total imports. It was followed by Tanzania, with a 5.8% share.

In South Africa, iron oxide pigment imports increased at an average annual rate of +6.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Namibia (+17.3% per year) and Tanzania (+6.8% per year).

Import Prices by Country

In 2021, the import price in SADC amounted to $X per ton, increasing by 8.5% against the previous year. In general, the import price, however, continues to indicate a mild decrease. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Zimbabwe ($X per ton), while Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Botswana (+5.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform