South Africa: Carboxylic Acid Market 2024

Carboxylic Acid Market Size in South Africa

In 2021, the South African carboxylic acid market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption showed a mild downturn. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Carboxylic Acid Production in South Africa

In value terms, carboxylic acid production stood at $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 29%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Carboxylic Acid Exports

Exports from South Africa

Carboxylic acid exports from South Africa stood at X tons in 2021, approximately reflecting the previous year. The total export volume increased at an average annual rate of +2.6% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2016 with an increase of 19%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, carboxylic acid exports expanded rapidly to $X in 2021. The total export value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by 22% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X tons) was the main destination for carboxylic acid exports from South Africa, accounting for a 28% share of total exports. Moreover, carboxylic acid exports to the UK exceeded the volume sent to the second major destination, the Netherlands (X tons), fourfold. Swaziland (X tons) ranked third in terms of total exports with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+5.3% per year) and Swaziland (+19.3% per year).

In value terms, the UK ($X) remains the key foreign market for carboxylic acid with alcohol, phenol, aldehyde or ketone functions exports from South Africa, comprising 21% of total exports. The second position in the ranking was held by Spain ($X), with an 8.3% share of total exports. It was followed by the Netherlands, with a 7.3% share.

From 2012 to 2021, the average annual growth rate of value to the UK was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+10.0% per year) and the Netherlands (+4.6% per year).

Export Prices by Country

In 2021, the average carboxylic acid export price amounted to $X per ton, surging by 7.4% against the previous year. Overall, the export price, however, recorded a mild setback. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Japan ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+0.1%), while the prices for the other major destinations experienced a decline.

Carboxylic Acid Imports

Imports into South Africa

In 2021, after three years of decline, there was growth in overseas purchases of carboxylic acid with alcohol, phenol, aldehyde or ketone functions, when their volume increased by 2.1% to X tons. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 18% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, carboxylic acid imports totaled $X in 2021. Overall, imports, however, continue to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 15% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest carboxylic acid supplier to South Africa, with a 55% share of total imports. Moreover, carboxylic acid imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. Italy (X tons) ranked third in terms of total imports with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-2.7% per year) and Italy (-2.7% per year).

In value terms, China ($X) constituted the largest supplier of carboxylic acid with alcohol, phenol, aldehyde or ketone functions to South Africa, comprising 42% of total imports. The second position in the ranking was taken by Italy ($X), with a 13% share of total imports. It was followed by Spain, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-4.2% per year) and Spain (-4.3% per year).

Import Prices by Country

The average carboxylic acid import price stood at $X per ton in 2021, with an increase of 3.2% against the previous year. Over the period under review, the import price, however, recorded a pronounced downturn. The growth pace was the most rapid in 2018 an increase of 14%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+11.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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