SADC: Market for Salts Of Acetic Acid 2024

Market Size for Salts Of Acetic Acid in SADC

The SADC salts of acetic acid market declined to $X in 2022, with a decrease of -7.8% against the previous year. Overall, consumption recorded a slight shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Salts Of Acetic Acid in SADC

In value terms, salts of acetic acid production declined modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2016 when the production volume increased by 12% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Salts Of Acetic Acid

Exports in SADC

Salts of acetic acid exports reduced markedly to X tons in 2022, shrinking by -20.5% against the previous year. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 79% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, salts of acetic acid exports soared to $X in 2022. Total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +86.9% against 2017 indices. The growth pace was the most rapid in 2013 with an increase of 82% against the previous year. As a result, the exports attained the peak of $X; afterwards, it flattened through to 2022.

Exports by Country

The biggest shipments were from South Africa (X tons), together resulting at 98% of total export.

South Africa experienced a relatively flat trend pattern with regard to volume of exports of salts of acetic acid. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest salts of acetic acid supplier in SADC.

In South Africa, salts of acetic acid exports increased at an average annual rate of +5.8% over the period from 2012-2022.

Export Prices by Country

The export price in SADC stood at $X per ton in 2022, with an increase of 52% against the previous year. Export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, salts of acetic acid export price increased by +74.2% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 +5.4% per year.

Imports of Salts Of Acetic Acid

Imports in SADC

In 2022, approx. X tons of salts of acetic acid were imported in SADC; waning by -18.5% on the previous year. Total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +6.0% 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 +10.2% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 35% against the previous year. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, salts of acetic acid imports reduced to $X in 2022. Over the period under review, imports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2021 with an increase of 103% against the previous year. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

South Africa prevails in imports structure, amounting to X tons, which was near 86% of total imports in 2022. It was distantly followed by Zambia (X tons), making up a 5.6% share of total imports. Tanzania (X tons) followed a long way behind the leaders.

Imports into South Africa increased at an average annual rate of +5.4% from 2012 to 2022. At the same time, Tanzania (+26.2%) and Zambia (+10.3%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing importer imported in SADC, with a CAGR of +26.2% from 2012-2022. From 2012 to 2022, the share of Tanzania and Zambia increased by +3.2 and +1.8 percentage points, respectively.

In value terms, South Africa ($X) constitutes the largest market for imported salts of acetic acid in SADC, comprising 81% of total imports. The second position in the ranking was held by Tanzania ($X), with a 7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa totaled +8.1%. In the other countries, the average annual rates were as follows: Tanzania (+19.3% per year) and Zambia (+8.1% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2022, rising by 7.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2021 an increase of 50% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+2.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform