Tanzania: Market for Urea Resins And Thiourea Resins In Primary Forms 2024

Market Size for Urea Resins And Thiourea Resins In Primary Forms in Tanzania

The Tanzanian urea and thiourea resins market rose markedly to $X in 2022, increasing by 6.6% against the previous year. In general, the total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.7% against 2020 indices. Urea and thiourea resins consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Urea Resins And Thiourea Resins In Primary Forms in Tanzania

In value terms, urea and thiourea resins production rose markedly to $X in 2022 estimated in export price. Overall, the total production indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.1% against 2020 indices. The pace of growth was the most pronounced in 2015 with an increase of 55%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Urea Resins And Thiourea Resins In Primary Forms

Exports from Tanzania

In 2022, after two years of decline, there was significant growth in overseas shipments of urea resins and thiourea resins in primary forms, when their volume increased by 615% to X tons. In general, exports, however, faced a sharp reduction. The most prominent rate of growth was recorded in 2019 with an increase of 9,589%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, urea and thiourea resins exports soared to $X in 2022. Overall, exports, however, continue to indicate a significant decrease. The most prominent rate of growth was recorded in 2019 when exports increased by 9,091%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Zambia (X tons) was the main destination for urea and thiourea resins exports from Tanzania, accounting for a 75% share of total exports. Moreover, urea and thiourea resins exports to Zambia exceeded the volume sent to the second major destination, Democratic Republic of the Congo (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to Zambia totaled -7.2%.

In value terms, Zambia ($X) remains the key foreign market for urea resins and thiourea resins in primary forms exports from Tanzania, comprising 93% of total exports. The second position in the ranking was held by Democratic Republic of the Congo ($X), with a 7.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Zambia amounted to -10.5%.

Export Prices by Country

The average urea and thiourea resins export price stood at $X per ton in 2022, falling by -28.6% against the previous year. Overall, the export price, however, enjoyed strong growth. The pace of growth was the most pronounced in 2017 when the average export price increased by 65% against the previous year. The export price peaked at $X per ton in 2021, and then fell remarkably in the following year.

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 Democratic Republic of the Congo stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Zambia (-3.6%).

Imports of Urea Resins And Thiourea Resins In Primary Forms

Imports into Tanzania

In 2022, urea and thiourea resins imports into Tanzania rose significantly to X tons, increasing by 5% against the year before. Overall, imports posted a prominent expansion. The pace of growth was the most pronounced in 2021 when imports increased by 863% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, urea and thiourea resins imports dropped to $X in 2022. Over the period under review, imports enjoyed a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of 965%. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

China (X tons), Singapore (X tons) and South Africa (X tons) were the main suppliers of urea and thiourea resins imports to Tanzania, with a combined 95% share of total imports.

From 2012 to 2022, the biggest increases were recorded for South Africa (with a CAGR of +76.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest urea and thiourea resins suppliers to Tanzania were Singapore ($X), China ($X) and the United Arab Emirates ($X), with a combined 94% share of total imports. These countries were followed by South Africa, which accounted for a further 5.9%.

Among the main suppliers, South Africa, with a CAGR of +73.9%, saw 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 urea and thiourea resins import price stood at $X per ton in 2022, declining by -10.7% against the previous year. In general, the import price saw a slight shrinkage. The growth pace was the most rapid in 2021 an increase of 11% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Singapore ($X per ton), while the price for South Africa ($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 (+1.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform