SADC: Sulphuric Acid Market 2024

Sulphuric Acid Market Size in SADC

The SADC sulphuric acid market shrank notably to $X in 2022, falling by -15.6% against the previous year. Over the period under review, consumption, however, continues to indicate slight growth. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Sulphuric Acid Production in SADC

In value terms, sulphuric acid production reduced modestly to $X in 2022 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +4.4% against 2020 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 72% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Sulphuric Acid Exports

Exports in SADC

In 2022, overseas shipments of sulphuric acid and oleum were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports showed significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 578%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, sulphuric acid exports surged to $X in 2022. Over the period under review, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 1,447%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Zambia (X tons) represented the largest exporter of sulphuric acid and oleum, creating 75% of total exports. It was distantly followed by South Africa (X tons), comprising a 24% share of total exports.

Zambia was also the fastest-growing in terms of the sulphuric acid and oleum exports, with a CAGR of +47.3% from 2012 to 2022. At the same time, South Africa (+17.1%) displayed positive paces of growth. From 2012 to 2022, the share of Zambia increased by +56 percentage points.

In value terms, Zambia ($X) and South Africa ($X) were the countries with the highest levels of exports in 2022.

Zambia, with a CAGR of +26.3%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in SADC stood at $X per ton in 2022, with a decrease of -9.6% against the previous year. Overall, the export price recorded a deep downturn. The most prominent rate of growth was recorded in 2013 when the export price increased by 128%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Zambia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+0.1%).

Sulphuric Acid Imports

Imports in SADC

In 2022, supplies from abroad of sulphuric acid and oleum was finally on the rise to reach X tons after three years of decline. Overall, imports enjoyed a tangible increase. The pace of growth was the most pronounced in 2017 when imports increased by 54% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, sulphuric acid imports skyrocketed to $X in 2022. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 132%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Democratic Republic of the Congo (X tons) represented the key importer of sulphuric acid and oleum, comprising 69% of total imports. Namibia (X tons) held a 25% share (based on physical terms) of total imports, which put it in second place, followed by Zimbabwe (4.8%).

From 2012 to 2022, average annual rates of growth with regard to sulphuric acid imports into Democratic Republic of the Congo stood at +7.0%. At the same time, Zimbabwe (+9.6%) displayed positive paces of growth. Moreover, Zimbabwe emerged as the fastest-growing importer imported in SADC, with a CAGR of +9.6% from 2012-2022. Namibia experienced a relatively flat trend pattern. From 2012 to 2022, the share of Democratic Republic of the Congo and Zimbabwe increased by +16 and +2 percentage points, respectively.

In value terms, Democratic Republic of the Congo ($X) constitutes the largest market for imported sulphuric acid and oleum in SADC, comprising 70% of total imports. The second position in the ranking was held by Namibia ($X), with a 24% share of total imports.

In Democratic Republic of the Congo, sulphuric acid imports increased at an average annual rate of +2.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Namibia (-0.3% per year) and Zimbabwe (+0.9% per year).

Import Prices by Country

In 2022, the import price in SADC amounted to $X per ton, approximately equating the previous year. Over the period under review, the import price recorded a perceptible decrease. The pace of growth was the most pronounced in 2013 when the import price increased by 78% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Namibia (+0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform