South Africa: Market for Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike 2024

Market Size for Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike in South Africa

The South African gum or wood oils market soared to $X in 2022, with an increase of X% against the previous year. Over the period under review, consumption posted strong growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike in South Africa

In value terms, gum or wood oils production reduced slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a drastic downturn. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike

Exports from South Africa

For the third year in a row, South Africa recorded growth in overseas shipments of gum, wood or sulphate turpentine oils, pine oil and other alike, which increased by X% to X tons in 2022. In general, exports recorded a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, gum or wood oils exports skyrocketed to $X in 2022. Overall, exports enjoyed a modest expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Zimbabwe (X tons) was the main destination for gum or wood oils exports from South Africa, with a X% share of total exports. Moreover, gum or wood oils exports to Zimbabwe exceeded the volume sent to the second major destination, Zambia (X tons), fourfold. France (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Zimbabwe totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zambia (X% per year) and France (X% per year).

In value terms, Zimbabwe ($X) remains the key foreign market for gum, wood or sulphate turpentine oils, pine oil and other alike exports from South Africa, comprising X% of total exports. The second position in the ranking was held by Zambia ($X), with a X% share of total exports. It was followed by Namibia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Zimbabwe amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zambia (X% per year) and Namibia (X% per year).

Export Prices by Country

In 2022, the average gum or wood oils export price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price, however, showed a abrupt setback. The pace of growth was the most pronounced in 2018 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Swaziland ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

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

Imports of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike

Imports into South Africa

In 2022, purchases abroad of gum, wood or sulphate turpentine oils, pine oil and other alike decreased by X% to X tons, falling for the second consecutive year after four years of growth. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, gum or wood oils imports reduced sharply to $X in 2022. Overall, imports, however, recorded a notable expansion. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest gum or wood oils supplier to South Africa, with a X% share of total imports. Moreover, gum or wood oils imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and India (X% per year).

In value terms, China ($X) constituted the largest supplier of gum, wood or sulphate turpentine oils, pine oil and other alike to South Africa, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and India (X% per year).

Import Prices by Country

In 2022, the average gum or wood oils import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price enjoyed a notable increase. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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