South Africa: Acrylic Acid Esters Market 2024

Acrylic Acid Esters Market Size in South Africa

The South African acrylic acid esters market surged to $X in 2022, with an increase of 16% against the previous year. Overall, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.5% 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 +105.8% against 2012 indices. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Acrylic Acid Esters Production in South Africa

In value terms, acrylic acid esters production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 17%. Acrylic acid esters production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Acrylic Acid Esters Exports

Exports from South Africa

In 2022, the amount of esters of acrylic acid exported from South Africa reduced notably to X tons, with a decrease of -57.9% compared with the previous year's figure. In general, exports continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2013 when exports increased by 28% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then fell notably in the following year.

In value terms, acrylic acid esters exports contracted rapidly to $X in 2022. Overall, exports continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2021 when exports increased by 89%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Belgium (X tons) and the United Arab Emirates (X tons) were the main destinations of acrylic acid esters exports from South Africa, with a combined 90% share of total exports. India, Singapore and Brazil lagged somewhat behind, together accounting for a further 7.4%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +20.0%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for acrylic acid esters exported from South Africa were the United States ($X), Belgium ($X) and the United Arab Emirates ($X), with a combined 90% share of total exports. Singapore, India and Brazil lagged somewhat behind, together comprising a further 7%.

India, with a CAGR of +17.8%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average acrylic acid esters export price stood at $X per ton in 2022, rising by 31% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 50%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Brazil ($X per ton) and Belgium ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) and India ($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 Belgium (+1.6%), while the prices for the other major destinations experienced more modest paces of growth.

Acrylic Acid Esters Imports

Imports into South Africa

In 2022, acrylic acid esters imports into South Africa contracted notably to X tons, shrinking by -15.5% compared with 2021 figures. Over the period under review, imports, however, enjoyed a mild expansion. The growth pace was the most rapid in 2014 with an increase of 183%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, acrylic acid esters imports dropped to $X in 2022. In general, imports, however, saw a measured increase. The pace of growth was the most pronounced in 2021 when imports increased by 166%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

China (X tons), Germany (X tons) and the United States (X tons) were the main suppliers of acrylic acid esters imports to South Africa, together accounting for 87% of total imports. Taiwan (Chinese), South Korea and Saudi Arabia lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +23.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of esters of acrylic acid to South Africa, comprising 51% of total imports. The second position in the ranking was taken by Germany ($X), with a 17% share of total imports. It was followed by Taiwan (Chinese), with a 13% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +21.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+16.0% per year) and Taiwan (Chinese) (+5.2% per year).

Import Prices by Country

The average acrylic acid esters import price stood at $X per ton in 2022, growing by 17% against the previous year. Over the period under review, the import price enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by 92% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Germany ($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 Korea (+12.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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