Africa: Salicylic Acid Market 2024

Salicylic Acid Market Size in Africa

The African salicylic acid market skyrocketed to $X in 2021, increasing by 18% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Salicylic Acid Production in Africa

In value terms, salicylic acid production contracted modestly to $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume increased by 8.5%. The level of production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Salicylic Acid Exports

Exports in Africa

In 2021, approx. X tons of salicylic acid and its salts were exported in Africa; falling by -39.9% against the previous year's figure. Over the period under review, exports, however, saw mild growth. The most prominent rate of growth was recorded in 2016 when exports increased by 165% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, salicylic acid exports fell significantly to $X in 2021. Overall, exports, however, recorded a tangible expansion. The pace of growth was the most pronounced in 2020 when exports increased by 68%. As a result, the exports reached the peak of $X, and then dropped remarkably in the following year.

Exports by Country

Mauritius was the major exporting country with an export of about X tons, which finished at 58% of total exports. It was distantly followed by Egypt (X tons), South Africa (X tons) and Cote d'Ivoire (X tons), together achieving a 36% share of total exports. Kenya (X kg) took a little share of total exports.

Exports from Mauritius increased at an average annual rate of +11.5% from 2012 to 2021. At the same time, Kenya (+15.7%), South Africa (+13.2%), Cote d'Ivoire (+10.7%) and Egypt (+3.4%) displayed positive paces of growth. Moreover, Kenya emerged as the fastest-growing exporter exported in Africa, with a CAGR of +15.7% from 2012-2021. While the share of Mauritius (+33 p.p.), South Africa (+4.4 p.p.), Egypt (+4 p.p.), Cote d'Ivoire (+3.3 p.p.) and Kenya (+2.3 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mauritius ($X) remains the largest salicylic acid supplier in Africa, comprising 81% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 6.2% share of total exports. It was followed by Egypt, with a 4.4% share.

From 2012 to 2021, the average annual growth rate of value in Mauritius totaled +15.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (+20.9% per year) and Egypt (-12.6% per year).

Export Prices by Country

In 2021, the export price in Africa amounted to $X per ton, growing by 23% against the previous year. In general, the export price saw a notable expansion. The growth pace was the most rapid in 2019 when the export price increased by 58%. Over the period under review, the export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Mauritius ($X per ton), while Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kenya (+13.2%), while the other leaders experienced more modest paces of growth.

Salicylic Acid Imports

Imports in Africa

In 2021, approx. X tons of salicylic acid and its salts were imported in Africa; rising by 35% against the previous year's figure. Total imports indicated a mild expansion from 2012 to 2021: its volume increased at an average annual rate of +1.4% 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 +41.8% against 2018 indices. The growth pace was the most rapid in 2013 when imports increased by 58%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, salicylic acid imports amounted to $X in 2021. In general, imports, however, recorded a slight downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 59%. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, South Africa (X tons), distantly followed by Egypt (X tons), Nigeria (X tons), Cameroon (X tons) and Cote d'Ivoire (X tons) were the largest importers of salicylic acid and its salts, together mixing up 81% of total imports. The following importers - Morocco (X tons) and Democratic Republic of the Congo (X tons) - together made up 4.9% of total imports.

From 2012 to 2021, the biggest increases were recorded for Morocco (with a CAGR of +31.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), South Africa ($X) and Nigeria ($X) constituted the countries with the highest levels of imports in 2021, together comprising 66% of total imports. Cameroon, Cote d'Ivoire, Morocco and Democratic Republic of the Congo lagged somewhat behind, together accounting for a further 16%.

Cameroon, with a CAGR of +29.3%, saw the highest growth rate of the value of imports, among 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 2021, the import price in Africa amounted to $X per ton, waning by -18.1% against the previous year. In general, the import price continues to indicate a noticeable setback. The pace of growth appeared the most rapid in 2019 when the import price increased by 22%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cameroon (+7.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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