South Africa: Ketone And Quinone Market 2024

Ketone And Quinone Market Size in South Africa

In 2021, the South African ketone and quinone market increased by 6.2% to $X, rising for the third year in a row after two years of decline. In general, consumption, however, saw a perceptible slump. Ketone and quinone consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Ketone And Quinone Production in South Africa

In value terms, ketone and quinone production dropped slightly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a deep slump. The pace of growth appeared the most rapid in 2017 with an increase of 26% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Ketone And Quinone Exports

Exports from South Africa

After three years of decline, shipments abroad of ketones and quinones increased by 4.8% to X tons in 2021. Over the period under review, exports, however, showed a mild slump. The pace of growth was the most pronounced in 2017 with an increase of 10%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, ketone and quinone exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 69% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Belgium (X tons) was the main destination for ketone and quinone exports from South Africa, accounting for a 47% share of total exports. Moreover, ketone and quinone exports to Belgium exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was held by Singapore (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Belgium totaled +12.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-2.5% per year) and Singapore (-1.3% per year).

In value terms, Belgium ($X) remains the key foreign market for ketones and quinones exports from South Africa, comprising 43% of total exports. The second position in the ranking was taken by the United States ($X), with a 19% share of total exports. It was followed by Singapore, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Belgium totaled +6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-4.9% per year) and Singapore (-1.2% per year).

Export Prices by Country

The average ketone and quinone export price stood at $X per ton in 2021, increasing by 40% against the previous year. In general, the export price, however, continues to indicate a pronounced decline. The pace of growth was the most pronounced in 2017 an increase of 53%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to the United Arab Emirates ($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 India (+0.7%), while the prices for the other major destinations experienced mixed trend patterns.

Ketone And Quinone Imports

Imports into South Africa

In 2021, the amount of ketones and quinones imported into South Africa surged to X tons, increasing by 20% against the year before. Over the period under review, imports, however, continue to indicate a slight shrinkage. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, ketone and quinone imports surged to $X in 2021. The total import value increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), India (X tons) and Germany (X tons) were the main suppliers of ketone and quinone imports to South Africa, with a combined 60% share of total imports. These countries were followed by France, Taiwan (Chinese), Brazil, South Korea, the Netherlands, the United States and Israel, which together accounted for a further 32%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +27.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of ketones and quinones to South Africa, comprising 50% of total imports. The second position in the ranking was taken by India ($X), with an 11% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+10.1% per year) and the United States (+8.2% per year).

Import Prices by Country

The average ketone and quinone import price stood at $X per ton in 2021, surging by 2.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.4%. The most prominent rate of growth was recorded in 2017 when the average import price increased by 22%. The import price peaked in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Taiwan (Chinese) ($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 States (+15.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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