South Africa: Imines Market 2024

Imines Market Size in South Africa

The South African imines market skyrocketed to $X in 2021, jumping by 54% 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). In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Imines Exports

Exports from South Africa

In 2021, after three years of growth, there was significant decline in shipments abroad of imines and their derivatives and salts thereof, when their volume decreased by -35.7% to X tons. Over the period under review, exports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2016 when exports increased by 11,977% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, imines exports dropped significantly to $X in 2021. Overall, exports, however, showed resilient growth. The growth pace was the most rapid in 2016 with an increase of 7,047% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Zimbabwe (X tons), Mozambique (X tons) and Nigeria (X tons) were the main destinations of imines exports from South Africa, with a combined 87% 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 Mozambique (with a CAGR of +40.9%), while the other leaders experienced more modest paces of growth.

In value terms, Mozambique ($X), Zimbabwe ($X) and Nigeria ($X) constituted the largest markets for imines exported from South Africa worldwide, together comprising 89% of total exports.

In terms of the main countries of destination, Nigeria, with a CAGR of +41.5%, 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 imines export price stood at $X per ton in 2021, declining by -50.1% against the previous year. Overall, the export price showed a slight shrinkage. The most prominent rate of growth was recorded in 2020 an increase of 124% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced rapidly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Nigeria ($X per ton), while the average price for exports to Tanzania ($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 Nigeria (+3.6%), while the prices for the other major destinations experienced a decline.

Imines Imports

Imports into South Africa

For the third consecutive year, South Africa recorded growth in purchases abroad of imines and their derivatives and salts thereof, which increased by 41% to X tons in 2021. Over the period under review, total imports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +70.3% against 2018 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 67%. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, imines imports surged to $X in 2021. Overall, imports, however, continue to indicate a mild decline. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of imines to South Africa, with a 66% share of total imports. Moreover, imines imports from China exceeded the figures recorded by the second-largest supplier, France (X tons), fivefold. The third position in this ranking was held by India (X tons), with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+14.4% per year) and India (-17.8% per year).

In value terms, China ($X) constituted the largest supplier of imines and their derivatives and salts thereof to South Africa, comprising 56% of total imports. The second position in the ranking was held by France ($X), with a 21% share of total imports. It was followed by Germany, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+6.6% per year) and Germany (+9.7% per year).

Import Prices by Country

The average imines import price stood at $X per ton in 2021, jumping by 16% against the previous year. Overall, the import price, however, saw a noticeable slump. The most prominent rate of growth was recorded in 2019 when the average import price increased by 37% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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