SADC: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in SADC

The SADC market for processed petroleum oils and distillates soared to $X in 2022, with an increase of 32% against the previous year. The total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 +76.4% against 2020 indices. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the near future.

Production of Processed Petroleum Oils and Distillates in SADC

In value terms, processed petroleum oils and distillates production dropped to $X in 2022 estimated in export price. In general, production recorded a perceptible reduction. The growth pace was the most rapid in 2021 when the production volume increased by 21%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Processed Petroleum Oils and Distillates

Exports in SADC

In 2022, shipments abroad of processed petroleum oils and distillates increased by 82% to X tons, rising for the second consecutive year after three years of decline. In general, exports posted a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, processed petroleum oils and distillates exports surged to $X in 2022. Over the period under review, exports posted buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

South Africa was the main exporter of processed petroleum oils and distillates in SADC, with the volume of exports recording X tons, which was near 61% of total exports in 2022. Mozambique (X tons) held a 14% share (based on physical terms) of total exports, which put it in second place, followed by Angola (12%) and Namibia (6.2%). The following exporters - Seychelles (X tons) and Democratic Republic of the Congo (X tons) - together made up 6% of total exports.

From 2012 to 2022, average annual rates of growth with regard to processed petroleum oils and distillates exports from South Africa stood at +11.4%. At the same time, Seychelles (+46.0%), Namibia (+28.5%), Angola (+5.2%) and Mozambique (+3.9%) displayed positive paces of growth. Moreover, Seychelles emerged as the fastest-growing exporter exported in SADC, with a CAGR of +46.0% from 2012-2022. By contrast, Democratic Republic of the Congo (-5.9%) illustrated a downward trend over the same period. Angola (+12 p.p.), Namibia (+4.8 p.p.), South Africa (+3.8 p.p.) and Seychelles (+3.5 p.p.) significantly strengthened its position in terms of the total exports, while Democratic Republic of the Congo and Mozambique saw its share reduced by -9.2% and -12.1% from 2012 to 2022, respectively.

In value terms, South Africa ($X), Mozambique ($X) and Angola ($X) were the countries with the highest levels of exports in 2022, with a combined 90% share of total exports. Seychelles, Democratic Republic of the Congo and Namibia lagged somewhat behind, together comprising a further 7.8%.

Seychelles, with a CAGR of +42.7%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in SADC stood at $X per ton in 2022, growing by 16% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 29% 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.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mozambique (+18.6%), while the other leaders experienced mixed trends in the export price figures.

Imports of Processed Petroleum Oils and Distillates

Imports in SADC

In 2022, imports of processed petroleum oils and distillates in SADC skyrocketed to X tons, increasing by 86% on the previous year's figure. In general, imports enjoyed prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, processed petroleum oils and distillates imports surged to $X in 2022. Overall, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 109% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

South Africa represented the key importing country with an import of around X tons, which accounted for 46% of total imports. Mozambique (X tons) held a 24% share (based on physical terms) of total imports, which put it in second place, followed by Tanzania (11%) and Angola (5.4%). Botswana (X tons), Mauritius (X tons) and Madagascar (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Mozambique (with a CAGR of +30.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) constitutes the largest market for imported processed petroleum oils and distillates in SADC, comprising 47% of total imports. The second position in the ranking was held by Mozambique ($X), with a 17% share of total imports. It was followed by Tanzania, with a 12% share.

In South Africa, processed petroleum oils and distillates imports increased at an average annual rate of +9.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Mozambique (+20.3% per year) and Tanzania (+8.7% per year).

Import Prices by Country

In 2022, the import price in SADC amounted to $X per ton, with an increase of 1.6% against the previous year. Over the period under review, the import price, however, saw a drastic downturn. The growth pace was the most rapid in 2021 when the import price increased by 47% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, 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 Angola ($X per ton), while Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritius (-2.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform