South Africa: Thiosulphates Market 2024

Thiosulphates Market Size in South Africa

The South African thiosulphates market skyrocketed to $X in 2021, growing by 18% 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). Overall, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +9.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +74.8% against 2019 indices. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Thiosulphates Exports

Exports from South Africa

In 2021, after two years of decline, there was significant growth in shipments abroad of thiosulphates, when their volume increased by 78% to X tons. Overall, exports, however, showed a precipitous decline. The pace of growth was the most pronounced in 2014 when exports increased by 170% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, thiosulphates exports soared to $X in 2021. In general, exports, however, faced a abrupt shrinkage. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Namibia (X tons) was the main destination for thiosulphates exports from South Africa, with a 50% share of total exports. Moreover, thiosulphates exports to Namibia exceeded the volume sent to the second major destination, Belgium (X tons), twofold. The third position in this ranking was taken by Democratic Republic of the Congo (X kg), with a 7.2% share.

From 2012 to 2021, the average annual growth rate of volume to Namibia amounted to +77.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (0.0% per year) and Democratic Republic of the Congo (+5.3% per year).

In value terms, the largest markets for thiosulphates exported from South Africa were Swaziland ($X), Namibia ($X) and Ghana ($X), with a combined 74% share of total exports. Democratic Republic of the Congo, Belgium, Seychelles, Zambia and Mozambique lagged somewhat behind, together accounting for a further 22%.

Seychelles, with a CAGR of +925.9%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average thiosulphates export price stood at $X per ton in 2021, with an increase of 29% against the previous year. In general, the export price posted strong growth. The pace of growth was the most pronounced in 2013 when the average export price increased by 292%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while the average price for exports to Mozambique ($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 Angola (+20.7%), while the prices for the other major destinations experienced mixed trend patterns.

Thiosulphates Imports

Imports into South Africa

In 2021, imports of thiosulphates into South Africa contracted to X tons, declining by -11.9% against 2020. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -9.2% against 2016 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 50% against the previous year. As a result, imports attained the peak of X tons, and then fell in the following year.

In value terms, thiosulphates imports skyrocketed to $X in 2021. In general, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +101.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 44%. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest thiosulphates supplier to South Africa, with a 84% share of total imports. Moreover, thiosulphates imports from China exceeded the figures recorded by the second-largest supplier, France (X tons), ninefold. Belgium (X tons) ranked third in terms of total imports with a 2.5% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+170.4% per year) and Belgium (+105.0% per year).

In value terms, China ($X) constituted the largest supplier of thiosulphates to South Africa, comprising 89% of total imports. The second position in the ranking was taken by Belgium ($X), with a 2.8% share of total imports. It was followed by India, with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+58.7% per year) and India (+19.7% per year).

Import Prices by Country

In 2021, the average thiosulphates import price amounted to $X per ton, with an increase of 58% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+5.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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