South Africa: Market for Hydroxide And Peroxide Of Magnesium, Oxides, Hydroxides And Peroxides Of Strontium Or Barium 2024

Market Size for Hydroxide And Peroxide Of Magnesium, Oxides, Hydroxides And Peroxides Of Strontium Or Barium in South Africa

The South African magnesium hydroxide and peroxide market contracted markedly to $X in 2022, waning by -33.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a abrupt shrinkage. Magnesium hydroxide and peroxide consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Exports of Hydroxide And Peroxide Of Magnesium, Oxides, Hydroxides And Peroxides Of Strontium Or Barium

Exports from South Africa

In 2022, the amount of hydroxide and peroxide of magnesium, oxides, hydroxides and peroxides of strontium or barium exported from South Africa soared to X tons, with an increase of 42% compared with 2021. Overall, exports showed a resilient increase. The growth pace was the most rapid in 2020 with an increase of 10,942% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, magnesium hydroxide and peroxide exports soared to $X in 2022. Over the period under review, exports showed a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 30,487% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for magnesium hydroxide and peroxide exports from South Africa, accounting for a 60% share of total exports. Moreover, magnesium hydroxide and peroxide exports to the United States exceeded the volume sent to the second major destination, Zimbabwe (X tons), fourfold. The third position in this ranking was taken by Democratic Republic of the Congo (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled -6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zimbabwe (+41.9% per year) and Democratic Republic of the Congo (+119.5% per year).

In value terms, the United States ($X) remains the key foreign market for hydroxide and peroxide of magnesium, oxides, hydroxides and peroxides of strontium or barium exports from South Africa, comprising 59% of total exports. The second position in the ranking was taken by Democratic Republic of the Congo ($X), with an 11% share of total exports. It was followed by Zimbabwe, with a 4.1% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at -31.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (+133.5% per year) and Zimbabwe (+36.7% per year).

Export Prices by Country

The average magnesium hydroxide and peroxide export price stood at $X per ton in 2022, surging by 8.7% against the previous year. Overall, the export price showed a strong expansion. The pace of growth appeared the most rapid in 2020 when the average export price increased by 177%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mozambique ($X per ton), while the average price for exports to Belgium ($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 Democratic Republic of the Congo (+6.4%), while the prices for the other major destinations experienced a decline.

Imports of Hydroxide And Peroxide Of Magnesium, Oxides, Hydroxides And Peroxides Of Strontium Or Barium

Imports into South Africa

Magnesium hydroxide and peroxide imports into South Africa fell to X tons in 2022, waning by -6.4% against the year before. In general, imports showed a deep slump. The pace of growth appeared the most rapid in 2016 when imports increased by 87% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, magnesium hydroxide and peroxide imports fell to $X in 2022. Overall, imports saw a abrupt decline. The most prominent rate of growth was recorded in 2015 when imports increased by 127% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of magnesium hydroxide and peroxide to South Africa, accounting for a 51% share of total imports. Moreover, magnesium hydroxide and peroxide imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. India (X tons) ranked third in terms of total imports with a 7% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -16.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+25.3% per year) and India (+248.6% per year).

In value terms, the largest magnesium hydroxide and peroxide suppliers to South Africa were China ($X), Japan ($X) and the United States ($X), with a combined 83% share of total imports. India, Germany, Taiwan (Chinese), the Netherlands and Austria lagged somewhat behind, together accounting for a further 16%.

India, with a CAGR of +175.6%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average magnesium hydroxide and peroxide import price amounted to $X per ton, increasing by 5.2% against the previous year. In general, the import price recorded a prominent increase. The pace of growth appeared the most rapid in 2015 an increase of 233% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

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 Germany ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+12.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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