SADC: Polyurethanes Market 2024

Polyurethanes Market Size in SADC

In 2021, the SADC polyurethanes market increased by 1.3% to $X, rising for the fifth consecutive year after two years of decline. The total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +75.5% against 2016 indices. The level of consumption peaked in 2021 and is likely to see gradual growth in the near future.

Polyurethanes Production in SADC

In value terms, polyurethanes production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 78% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then contracted in the following year.

Polyurethanes Exports

Exports in SADC

In 2021, overseas shipments of polyurethanes in primary forms increased by 6.4% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2018 with an increase of 26%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, polyurethanes exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a pronounced descent. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The shipments of the one major exporters of polyurethanes in primary forms, namely South Africa, represented more than two-thirds of total export.

South Africa was also the fastest-growing in terms of the polyurethanes in primary forms exports, with a CAGR of -7.1% from 2012 to 2021. From 2012 to 2021, the share of South Africa increased by +3 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2021, the average annual rate of growth in terms of value in South Africa amounted to -2.5%.

Export Prices by Country

In 2021, the export price in SADC amounted to $X per ton, growing by 21% against the previous year. Export price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, polyurethanes export price decreased by -6.6% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the export price increased by 43% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

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 +5.0% per year.

Polyurethanes Imports

Imports in SADC

In 2021, supplies from abroad of polyurethanes in primary forms increased by 15% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports recorded a relatively flat trend pattern. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, polyurethanes imports surged to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

South Africa prevails in imports structure, reaching X tons, which was approx. 88% of total imports in 2021. The following importers - Mozambique (X tons), Tanzania (X tons), Zambia (X tons) and Angola (X tons) - each resulted at a 7.8% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to polyurethanes imports into South Africa stood at +1.9%. At the same time, Zambia (+6.5%) and Tanzania (+5.9%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing importer imported in SADC, with a CAGR of +6.5% from 2012-2021. By contrast, Angola (-7.9%) and Mozambique (-17.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of South Africa increased by +13 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported polyurethanes in primary forms in SADC, comprising 87% of total imports. The second position in the ranking was held by Zambia ($X), with a 3% share of total imports. It was followed by Angola, with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in South Africa was relatively modest. In the other countries, the average annual rates were as follows: Zambia (+13.6% per year) and Angola (-6.1% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2021, with an increase of 17% against the previous year. In general, the import price, however, saw a mild reduction. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Zambia (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform