South Africa: Alkyd Resins Market 2024

Alkyd Resins Market Size in South Africa

The South African alkyd resins market declined slightly to $X in 2022, remaining constant against the previous year. Overall, consumption, however, showed a noticeable slump. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Alkyd Resins Production in South Africa

In value terms, alkyd resins production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 14%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Alkyd Resins Exports

Exports from South Africa

In 2022, overseas shipments of alkyd resins in primary forms decreased by -17.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, saw a noticeable expansion. The pace of growth was the most pronounced in 2020 with an increase of 36% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted notably in the following year.

In value terms, alkyd resins exports expanded modestly to $X in 2022. Over the period under review, exports, however, enjoyed perceptible growth. The most prominent rate of growth was recorded in 2021 with an increase of 47%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Zimbabwe (X tons) was the main destination for alkyd resins exports from South Africa, accounting for a 47% share of total exports. Moreover, alkyd resins exports to Zimbabwe exceeded the volume sent to the second major destination, Zambia (X tons), threefold. The third position in this ranking was taken by Malawi (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Zimbabwe amounted to +13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zambia (+1.1% per year) and Malawi (+8.4% per year).

In value terms, Zimbabwe ($X) remains the key foreign market for alkyd resins in primary forms exports from South Africa, comprising 45% of total exports. The second position in the ranking was held by Zambia ($X), with a 17% share of total exports. It was followed by Malawi, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Zimbabwe totaled +14.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zambia (+1.3% per year) and Malawi (+9.2% per year).

Export Prices by Country

In 2022, the average alkyd resins export price amounted to $X per ton, with an increase of 27% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 38% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Botswana ($X per ton) and Mozambique ($X per ton), while the average price for exports to Tanzania ($X per ton) and Zambia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Zimbabwe (+0.7%), while the prices for the other major destinations experienced more modest paces of growth.

Alkyd Resins Imports

Imports into South Africa

In 2022, the amount of alkyd resins in primary forms imported into South Africa contracted remarkably to X tons, declining by -37.6% compared with 2021 figures. Over the period under review, imports continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2021 with an increase of 254%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, alkyd resins imports dropped markedly to $X in 2022. In general, imports faced a abrupt curtailment. The growth pace was the most rapid in 2021 with an increase of 48% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Pakistan (X tons) constituted the largest supplier of alkyd resins to South Africa, accounting for a 67% share of total imports. Moreover, alkyd resins imports from Pakistan exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. The third position in this ranking was held by Italy (X tons), with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Pakistan amounted to +72.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-4.2% per year) and Italy (+41.2% per year).

In value terms, Germany ($X) constituted the largest supplier of alkyd resins in primary forms to South Africa, comprising 47% of total imports. The second position in the ranking was taken by Italy ($X), with a 21% share of total imports. It was followed by the United Arab Emirates, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled -3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+37.1% per year) and the United Arab Emirates (-25.7% per year).

Import Prices by Country

The average alkyd resins import price stood at $X per ton in 2022, with an increase of 34% against the previous year. Over the period under review, the import price, however, saw a deep contraction. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+45.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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