SADC: Plant-Growth Regulators Market 2024

Plant-Growth Regulators Market Size in SADC

For the third year in a row, the SADC plant-growth regulators market recorded growth in sales value, which increased by 47% to $X in 2022. Over the period under review, consumption enjoyed a strong expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Plant-Growth Regulators Production in SADC

In value terms, plant-growth regulators production shrank to $X in 2022 estimated in export price. Overall, production recorded a pronounced slump. The pace of growth appeared the most rapid in 2014 when the production volume increased by 20% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Plant-Growth Regulators Exports

Exports in SADC

In 2022, plant-growth regulators exports in SADC declined dramatically to X tons, which is down by -26.8% on the year before. Over the period under review, exports continue to indicate a perceptible slump. The pace of growth appeared the most rapid in 2018 with an increase of 20%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, plant-growth regulators exports contracted notably to $X in 2022. In general, exports continue to indicate a noticeable setback. The most prominent rate of growth was recorded in 2018 when exports increased by 29% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, South Africa (X tons) was the largest exporter of plant-growth regulators in SADC, achieving 98% of total export.

South Africa was also the fastest-growing in terms of the plant-growth regulators exports, with a CAGR of -3.3% from 2012 to 2022. While the share of South Africa (+1.6 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 plant-growth regulators supplier in SADC.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa amounted to -4.4%.

Export Prices by Country

In 2022, the export price in SADC amounted to $X per ton, reducing by -10.2% against the previous year. Over the period under review, the export price recorded a slight shrinkage. The pace of growth was the most pronounced in 2021 an increase of 28% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, 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 2022, the rate of growth in terms of prices for South Africa amounted to -1.1% per year.

Plant-Growth Regulators Imports

Imports in SADC

Plant-growth regulators imports soared to X tons in 2022, increasing by 21% compared with the previous year's figure. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +8.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +44.7% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 35%. The volume of import peaked in 2022 and is likely to see steady growth in the near future.

In value terms, plant-growth regulators imports surged to $X in 2022. Over the period under review, imports enjoyed a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

South Africa was the main importer of plant-growth regulators in SADC, with the volume of imports reaching X tons, which was near 63% of total imports in 2022. It was distantly followed by Tanzania (X tons), generating a 17% share of total imports. Zambia (X tons), Zimbabwe (X tons), Botswana (X tons), Malawi (X tons) and Namibia (X tons) held a relatively small share of total imports.

Imports into South Africa increased at an average annual rate of +6.7% from 2012 to 2022. At the same time, Botswana (+37.3%), Namibia (+30.0%), Tanzania (+17.1%), Zambia (+12.5%), Zimbabwe (+10.4%) and Malawi (+7.6%) displayed positive paces of growth. Moreover, Botswana emerged as the fastest-growing importer imported in SADC, with a CAGR of +37.3% from 2012-2022. From 2012 to 2022, the share of Tanzania and Botswana increased by +8.8 and +3.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported plant-growth regulators in SADC, comprising 69% of total imports. The second position in the ranking was taken by Tanzania ($X), with a 12% share of total imports. It was followed by Zambia, with a 4.4% share.

In South Africa, plant-growth regulators imports increased at an average annual rate of +10.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Tanzania (+16.1% per year) and Zambia (+7.6% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2022, rising by 23% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Malawi ($X per ton), while Botswana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malawi (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform