Africa: Isocyanates Market 2024

Isocyanates Market Size in Africa

The African isocyanates market was estimated at $X in 2023, increasing by X% against the previous year. Overall, consumption, however, recorded a pronounced shrinkage. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2023, consumption remained at a lower figure.

Isocyanates Production in Africa

In value terms, isocyanates production expanded slightly to $X in 2023 estimated in export price. Overall, production continues to indicate a pronounced downturn. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2023, production stood at a somewhat lower figure.

Isocyanates Exports

Exports in Africa

Isocyanates exports skyrocketed to X tons in 2023, increasing by X% compared with the previous year's figure. Over the period under review, exports posted a measured increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2023 and are likely to continue growth in years to come.

In value terms, isocyanates exports stood at $X in 2023. In general, exports recorded a modest increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2023 and are expected to retain growth in years to come.

Exports by Country

South Africa dominates exports structure, amounting to X tons, which was approx. X% of total exports in 2023. Morocco (X tons) ranks second in terms of the total exports with a X% share, followed by Uganda (X%). Egypt (X tons) and Tanzania (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to isocyanates exports from South Africa stood at X%. At the same time, Morocco (X%), Tanzania (X%) and Uganda (X%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2023. By contrast, Egypt (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Morocco, Uganda, Egypt and Tanzania increased by X, X, X and X percentage points, respectively.

In value terms, South Africa ($X) remains the largest isocyanates supplier in Africa, comprising X% of total exports. The second position in the ranking was taken by Morocco ($X), with a X% share of total exports. It was followed by Uganda, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in South Africa was relatively modest. In the other countries, the average annual rates were as follows: Morocco (X% per year) and Uganda (X% per year).

Export Prices by Country

In 2023, the export price in Africa amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price continues to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Egypt (X%), while the other leaders experienced a decline in the export price figures.

Isocyanates Imports

Imports in Africa

In 2023, overseas purchases of isocyanates were finally on the rise to reach X tons for the first time since 2018, thus ending a four-year declining trend. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2023, the growth of imports remained at a lower figure.

In value terms, isocyanates imports rose modestly to $X in 2023. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of isocyanates imports in 2023 were Nigeria (X tons), Morocco (X tons), Egypt (X tons) and South Africa (X tons), together recording X% of total import. Kenya (X tons) held the next position in the ranking, followed by Tanzania (X tons) and Algeria (X tons). All these countries together took approx. X% share of total imports. Ethiopia (X tons), Libya (X tons), Ghana (X tons), Uganda (X tons), Cote d'Ivoire (X tons) and Senegal (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Cote d'Ivoire (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), Nigeria ($X) and Morocco ($X) were the countries with the highest levels of imports in 2023, together accounting for X% of total imports. South Africa, Kenya, Algeria, Tanzania, Ethiopia, Libya, Ghana, Uganda, Senegal and Cote d'Ivoire lagged somewhat behind, together comprising a further X%.

Cote d'Ivoire, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Africa amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price recorded a mild downturn. The growth pace was the most rapid in 2017 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2023, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Egypt ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Egypt (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform