Africa: Methacrylic Acid Market 2024

Methacrylic Acid Market Size in Africa

In 2022, the African methacrylic acid market increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption recorded a slight shrinkage. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Methacrylic Acid Production in Africa

In value terms, methacrylic acid production amounted to $X in 2022 estimated in export price. The total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

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Methacrylic Acid Exports

Exports in Africa

In 2022, after four years of growth, there was significant decline in shipments abroad of methacrylic acid and its salts, when their volume decreased by X% to X tons. In general, exports, however, saw a prominent expansion. The pace of growth appeared the most rapid in 2013 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, methacrylic acid exports reduced rapidly to $X in 2022. Overall, exports, however, continue to indicate noticeable growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Swaziland (X tons) represented the largest exporter of methacrylic acid and its salts, making up X% of total exports. It was distantly followed by Kenya (X kg) and South Africa (X kg), together constituting a X% share of total exports.

Swaziland was also the fastest-growing in terms of the methacrylic acid and its salts exports, with a CAGR of X% from 2012 to 2022. At the same time, Kenya (X%) displayed positive paces of growth. By contrast, South Africa (X%) illustrated a downward trend over the same period. While the share of Swaziland (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Kenya (X p.p.) and South Africa (X p.p.) displayed negative dynamics.

In value terms, Swaziland ($X) emerged as the largest methacrylic acid supplier in Africa, comprising X% of total exports. The second position in the ranking was taken by Kenya ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Swaziland amounted to X%. In the other countries, the average annual rates were as follows: Kenya (X% per year) and South Africa (X% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the export price continues to indicate a noticeable setback. The growth pace was the most rapid in 2014 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Swaziland ($X per ton), while Kenya ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Swaziland (X%), while the other leaders experienced a decline in the export price figures.

Methacrylic Acid Imports

Imports in Africa

In 2022, imports of methacrylic acid and its salts in Africa dropped slightly to X tons, waning by X% compared with the year before. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, methacrylic acid imports reached $X in 2022. Overall, imports continue to indicate a mild decline. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

South Africa was the major importer of methacrylic acid and its salts in Africa, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2022. Egypt (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Nigeria (X%). Kenya (X tons) followed a long way behind the leaders.

South Africa experienced a relatively flat trend pattern with regard to volume of imports of methacrylic acid and its salts. At the same time, Kenya (X%), Nigeria (X%) and Egypt (X%) displayed positive paces of growth. Moreover, Kenya emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2022. Nigeria (X p.p.) and Egypt (X p.p.) significantly strengthened its position in terms of the total imports, while South Africa saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported methacrylic acid and its salts in Africa, comprising X% of total imports. The second position in the ranking was held by Egypt ($X), with a X% share of total imports. It was followed by Nigeria, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Egypt (X% per year) and Nigeria (X% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price, however, saw a mild slump. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Egypt ($X per ton) and South Africa ($X per ton), while Nigeria ($X per ton) and Kenya ($X per ton) were amongst the lowest.

From 2012 to 2022, 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

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