South Africa: Monophenols Market 2024

Monophenols Market Size in South Africa

In 2021, the South African monophenols market decreased by -1% to $X, falling for the third consecutive year after two years of growth. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Monophenols Production in South Africa

In value terms, monophenols production rose notably to $X in 2021 estimated in export price. Over the period under review, production recorded a slight setback. The growth pace was the most rapid in 2018 with an increase of 13% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Monophenols Exports

Exports from South Africa

Monophenols exports from South Africa surged to X tons in 2021, rising by 48% on the year before. The total export volume increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, monophenols exports surged to $X in 2021. Overall, exports, however, continue to indicate a mild slump. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons) was the main destination for monophenols exports from South Africa, with a 68% share of total exports. Moreover, monophenols exports to India exceeded the volume sent to the second major destination, Belgium (X tons), fivefold. Brazil (X tons) ranked third in terms of total exports with a 4.3% share.

From 2012 to 2021, the average annual growth rate of volume to India amounted to +6.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+2.9% per year) and Brazil (-0.0% per year).

In value terms, India ($X) remains the key foreign market for monophenols exports from South Africa, comprising 62% of total exports. The second position in the ranking was taken by Belgium ($X), with a 17% share of total exports. It was followed by Taiwan (Chinese), with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value to India totaled +4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+0.4% per year) and Taiwan (Chinese) (-16.2% per year).

Export Prices by Country

In 2021, the average monophenols export price amounted to $X per ton, increasing by 10% against the previous year. Overall, the export price, however, recorded a pronounced reduction. The most prominent rate of growth was recorded in 2018 an increase of 41%. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Brazil ($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 Taiwan (Chinese) (-1.1%), while the prices for the other major destinations experienced a decline.

Monophenols Imports

Imports into South Africa

In 2021, imports of monophenols into South Africa reduced remarkably to X tons, declining by -29.2% on 2020 figures. Overall, imports saw a abrupt decrease. The growth pace was the most rapid in 2020 when imports increased by 62%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, monophenols imports dropped to $X in 2021. In general, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2016 when imports increased by 86% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of monophenols imports to South Africa, with a combined 76% share of total imports. These countries were followed by India, Indonesia, Russia, the UK, Belgium and Spain, which together accounted for a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +27.2%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X) constituted the largest supplier of monophenols to South Africa, comprising 40% of total imports. The second position in the ranking was held by China ($X), with a 19% share of total imports. It was followed by India, with a 16% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +13.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.6% per year) and India (+8.9% per year).

Import Prices by Country

The average monophenols import price stood at $X per ton in 2021, jumping by 30% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 47% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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