South Africa: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in South Africa

The South African ethyl acetate market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption, however, recorded a noticeable downturn. Ethyl acetate consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Ethyl Acetate Production in South Africa

In value terms, ethyl acetate production reached $X in 2021 estimated in export price. Overall, production, however, saw a abrupt decrease. The pace of growth appeared the most rapid in 2017 when the production volume increased by 23% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Ethyl Acetate Exports

Exports from South Africa

In 2021, ethyl acetate exports from South Africa declined to X tons, dropping by -11.2% against the year before. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when exports increased by 38% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, ethyl acetate exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2017 when exports increased by 47% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Belgium (X tons), the United States (X tons) and Nigeria (X tons) were the main destinations of ethyl acetate exports from South Africa, with a combined 84% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nigeria (with a CAGR of +76.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ethyl acetate exported from South Africa were Belgium ($X), the United States ($X) and Nigeria ($X), with a combined 84% share of total exports. These countries were followed by the United Arab Emirates and Kenya, which together accounted for a further 6.4%.

Among the main countries of destination, Kenya, with a CAGR of +56.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ethyl acetate export price stood at $X per ton in 2021, growing by 57% against the previous year. In general, the export price, however, continues to indicate a deep reduction. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Belgium ($X per ton) and Kenya ($X per ton), while the average price for exports to the United States ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kenya (+2.2%), while the prices for the other major destinations experienced a decline.

Ethyl Acetate Imports

Imports into South Africa

In 2021, supplies from abroad of ethyl acetate decreased by -80.6% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports, however, enjoyed temperate growth. The growth pace was the most rapid in 2016 when imports increased by 962% against the previous year. Over the period under review, imports hit record highs at X tons in 2020, and then shrank significantly in the following year.

In value terms, ethyl acetate imports declined rapidly to $X in 2021. In general, imports, however, continue to indicate noticeable growth. The most prominent rate of growth was recorded in 2016 with an increase of 255% against the previous year. Over the period under review, imports hit record highs at $X in 2020, and then fell significantly in the following year.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest supplier of ethyl acetate to South Africa, with a 66% share of total imports. Moreover, ethyl acetate imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, the UK (X tons), fivefold. The third position in this ranking was taken by China (X tons), with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates stood at +67.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+20.2% per year) and China (-19.4% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of ethyl acetate to South Africa, comprising 62% of total imports. The second position in the ranking was taken by the UK ($X), with a 19% share of total imports. It was followed by China, with a 9% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates stood at +257.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+17.2% per year) and China (-18.1% per year).

Import Prices by Country

The average ethyl acetate import price stood at $X per ton in 2021, picking up by 91% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 135%. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+113.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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