South Africa: Polyphenols And Phenol-Alcohols Market 2024

Polyphenols And Phenol-Alcohols Market Size in South Africa

The South African polyphenols and phenol-alcohols market expanded notably to $X in 2022, growing by 9.6% 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, however, continues to indicate a abrupt setback. Polyphenols and phenol-alcohols consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Polyphenols And Phenol-Alcohols Exports

Exports from South Africa

In 2022, overseas shipments of polyphenols and phenol-alcohols increased by 13% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, continue to indicate a deep downturn. The pace of growth was the most pronounced in 2014 with an increase of 1,378%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, polyphenols and phenol-alcohols exports soared to $X in 2022. Overall, exports recorded a mild expansion. The pace of growth appeared the most rapid in 2014 with an increase of 1,252% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Zimbabwe (X tons) was the main destination for polyphenols and phenol-alcohols exports from South Africa, accounting for a 77% share of total exports. Moreover, polyphenols and phenol-alcohols exports to Zimbabwe exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), ninefold. The third position in this ranking was taken by Botswana (X tons), with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume to Zimbabwe totaled +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (0.0% per year) and Botswana (-2.8% per year).

In value terms, Zimbabwe ($X) remains the key foreign market for polyphenols and phenol-alcohols exports from South Africa, comprising 82% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 3.7% share of total exports. It was followed by Mozambique, with a 2% share.

From 2012 to 2022, the average annual growth rate of value to Zimbabwe stood at +13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (0.0% per year) and Mozambique (-4.0% per year).

Export Prices by Country

In 2022, the average polyphenols and phenol-alcohols export price amounted to $X per ton, surging by 34% against the previous year. Over the period under review, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +8.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polyphenols and phenol-alcohols export price increased by +106.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 72%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mozambique ($X per ton), while the average price for exports to Malawi ($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 Zambia (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Polyphenols And Phenol-Alcohols Imports

Imports into South Africa

In 2022, the amount of polyphenols and phenol-alcohols imported into South Africa expanded sharply to X tons, with an increase of 5.5% against 2021 figures. Over the period under review, imports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of 59%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, polyphenols and phenol-alcohols imports expanded remarkably to $X in 2022. In general, imports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2018 when imports increased by 68%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, France (X tons) constituted the largest supplier of polyphenols and phenol-alcohols to South Africa, accounting for a 47% share of total imports. Moreover, polyphenols and phenol-alcohols imports from France exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Japan (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from France amounted to -2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+59.0% per year) and Japan (-17.7% per year).

In value terms, France ($X), China ($X) and India ($X) were the largest polyphenols and phenol-alcohols suppliers to South Africa, together accounting for 67% of total imports. Japan, Germany, the United States, Switzerland, Italy and Spain lagged somewhat behind, together accounting for a further 31%.

Among the main suppliers, Italy, with a CAGR of +145.6%, 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

In 2022, the average polyphenols and phenol-alcohols import price amounted to $X per ton, picking up by 5.2% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2013 when the average import price increased by 14% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+24.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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