South Africa: Resinoids Market 2022

Resinoids Market Size in South Africa

The South African resinoids market was finally on the rise to reach $X in 2021, after five years of decline. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Resinoids consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Resinoids Production in South Africa

In value terms, resinoids production soared to $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 65% against the previous year. Resinoids production peaked at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Resinoids Exports

Exports from South Africa

In 2021, the amount of resinoids exported from South Africa skyrocketed to X tons, with an increase of 96% compared with the previous year. Overall, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of 362% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, resinoids exports surged to $X in 2021. In general, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 935% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Zambia (X tons) was the main destination for resinoids exports from South Africa, with a 76% share of total exports. Moreover, resinoids exports to Zambia exceeded the volume sent to the second major destination, Swaziland (X kg), tenfold. The third position in this ranking was held by Seychelles (X kg), with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Zambia stood at +46.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Swaziland (+145.7% per year) and Seychelles (0.0% per year).

In value terms, Zambia ($X) emerged as the key foreign market for resinoids exports from South Africa, comprising 69% of total exports. The second position in the ranking was held by Swaziland ($X), with a 7.1% share of total exports. It was followed by Peru, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Zambia totaled +59.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Swaziland (+166.0% per year) and Peru (-31.7% per year).

Export Prices by Country

The average resinoids export price stood at $X per ton in 2021, jumping by 15% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the average export price increased by 153%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Peru ($X per ton), while the average price for exports to Seychelles ($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 Zambia (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

Resinoids Imports

Imports into South Africa

Resinoids imports into South Africa soared to X tons in 2021, jumping by 287% against 2020. Over the period under review, imports enjoyed a prominent increase. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, resinoids imports surged to $X in 2021. In general, imports saw significant growth. The pace of growth was the most pronounced in 2019 with an increase of 174%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The United States (X tons), Egypt (X tons) and France (X tons) were the main suppliers of resinoids imports to South Africa, together comprising 86% of total imports. India, Germany, the UK, Switzerland and China lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +89.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), the United States ($X) and France ($X) appeared to be the largest resinoids suppliers to South Africa, together accounting for 89% of total imports. These countries were followed by Germany, the UK, India, Switzerland and China, which together accounted for a further 9.6%.

Germany, with a CAGR of +67.1%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average resinoids import price stood at $X per ton in 2021, which is down by -43.2% against the previous year. Overall, the import price, however, showed a strong increase. The pace of growth was the most pronounced in 2015 an increase of 430%. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Egypt ($X per ton), while the price for France ($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 (+21.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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