South Africa: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in South Africa

The South African phenylacetic acid market declined to $X in 2022, approximately mirroring the previous year. In general, consumption showed a deep reduction. Phenylacetic acid consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Phenylacetic Acid Production in South Africa

In value terms, phenylacetic acid production dropped slightly to $X in 2022 estimated in export price. Overall, production recorded a drastic downturn. The pace of growth was the most pronounced in 2017 with an increase of X%. Phenylacetic acid production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Phenylacetic Acid Exports

Exports from South Africa

Phenylacetic acid exports from South Africa shrank dramatically to X tons in 2022, waning by X% against the previous year. Overall, exports saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of X%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, phenylacetic acid exports dropped dramatically to $X in 2022. Over the period under review, exports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Mozambique (X tons), Zambia (X tons) and Zimbabwe (X tons) were the main destinations of phenylacetic acid exports from South Africa, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mozambique (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for phenylacetic acid exported from South Africa were Zambia ($X), Mozambique ($X) and Zimbabwe ($X), together accounting for X% of total exports.

In terms of the main countries of destination, Mozambique, with a CAGR of X%, saw 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

In 2022, the average phenylacetic acid export price amounted to $X per ton, with an increase of X% against the previous year. In general, the export price showed a measured increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

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

Phenylacetic Acid Imports

Imports into South Africa

In 2022, approx. X tons of phenylacetic acid, its salts and esters were imported into South Africa; picking up by X% on 2021 figures. Overall, total imports indicated a mild expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, phenylacetic acid imports soared to $X in 2022. Over the period under review, imports saw a strong expansion. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest phenylacetic acid supplier to South Africa, with a X% share of total imports. Moreover, phenylacetic acid imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. Belgium (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Belgium (X% per year).

In value terms, the largest phenylacetic acid suppliers to South Africa were China ($X), India ($X) and Belgium ($X), with a combined X% share of total imports. Taiwan (Chinese), Italy and Germany lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of X%, recorded 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 phenylacetic acid import price stood at $X per ton in 2022, rising by X% against the previous year. In general, the import price continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2019 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Italy ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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