South Africa: Industrial Oleic Acid Market 2025

Industrial Oleic Acid Market Size in South Africa

In 2021, the South African industrial oleic acid market decreased by -37.7% to $X, falling for the second consecutive year after three years of growth. Over the period under review, consumption continues to indicate a abrupt downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Industrial Oleic Acid Exports

Exports from South Africa

In 2021, overseas shipments of industrial oleic acid increased by 47% to X tons, rising for the third year in a row after two years of decline. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 724% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in years to come.

In value terms, industrial oleic acid exports soared to $X in 2021. Over the period under review, exports, however, saw a slight contraction. The pace of growth appeared the most rapid in 2020 with an increase of 326% 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

China (X tons) was the main destination for industrial oleic acid exports from South Africa, with a 82% share of total exports. Moreover, industrial oleic acid exports to China exceeded the volume sent to the second major destination, Kenya (X tons), eightfold. The third position in this ranking was taken by Botswana (X tons), with a 4.7% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled +32.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (0.0% per year) and Botswana (+0.1% per year).

In value terms, China ($X), Kenya ($X) and Zimbabwe ($X) appeared to be the largest markets for industrial oleic acid exported from South Africa worldwide, together accounting for 92% of total exports.

In terms of the main countries of destination, China, with a CAGR of +59.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average industrial oleic acid export price amounted to $X per ton, with an increase of 57% against the previous year. Over the period under review, the export price, however, showed a slight shrinkage. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Zambia ($X per ton), while the average price for exports to China ($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 China (+20.5%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Oleic Acid Imports

Imports into South Africa

In 2021, overseas purchases of industrial oleic acid decreased by -49.5% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 36%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, industrial oleic acid imports shrank sharply to $X in 2021. In general, imports showed a deep contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 39% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Spain (X tons), Malaysia (X tons) and Argentina (X tons) were the main suppliers of industrial oleic acid imports to South Africa, together comprising 82% of total imports. Indonesia, Belgium and India lagged somewhat behind, together comprising a further 17%.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +122.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial oleic acid suppliers to South Africa were Spain ($X), Malaysia ($X) and Argentina ($X), with a combined 83% share of total imports. These countries were followed by Indonesia, Belgium and India, which together accounted for a further 17%.

In terms of the main suppliers, Belgium, with a CAGR of +140.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average industrial oleic acid import price stood at $X per ton in 2021, rising by 46% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2012; afterwards, it flattened through to 2021.

Average prices varied somewhat amongst the major supplying countries. In 2021, the highest price was recorded for prices from Belgium ($X per ton) and Spain ($X per ton), while the price for India ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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