Africa: Tall Oil Market 2024

Tall Oil Market Size in Africa

The African tall oil market shrank modestly to $X in 2022, approximately mirroring the previous year. In general, consumption continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 when the market value increased by X% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Tall Oil Production in Africa

In value terms, tall oil production dropped to $X in 2022 estimated in export price. Overall, production continues to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Tall Oil Exports

Exports in Africa

For the fourth year in a row, Africa recorded decline in shipments abroad of tall oil, which decreased by X% to X tons in 2022. Overall, exports, however, showed a strong expansion. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, tall oil exports fell remarkably to $X in 2022. In general, exports, however, recorded resilient growth. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

South Africa dominates exports structure, recording X tons, which was approx. X% of total exports in 2022. The following exporters - Egypt (X tons), Tunisia (X tons) and Cote d'Ivoire (X tons) - together made up X% of total exports.

South Africa was also the fastest-growing in terms of the tall oil exports, with a CAGR of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%) displayed positive paces of growth. By contrast, Egypt (X%) and Tunisia (X%) illustrated a downward trend over the same period. South Africa (X p.p.) and Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total exports, while Egypt and Tunisia saw its share reduced by X% and X% from 2012 to 2022, respectively.

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

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

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the export price showed a deep contraction. The pace of growth appeared the most rapid in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, 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 Tunisia ($X per ton), while Cote d'Ivoire ($X per ton) was 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 export price figures.

Tall Oil Imports

Imports in Africa

In 2022, supplies from abroad of tall oil increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, imports, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, tall oil imports skyrocketed to $X in 2022. In general, imports, however, recorded a deep contraction. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Africa was the major importer of tall oil in Africa, with the volume of imports reaching X tons, which was approx. X% of total imports in 2022. Senegal (X tons) took the second position in the ranking, followed by Tunisia (X tons), Algeria (X tons) and Nigeria (X tons). All these countries together held approx. X% share of total imports. Gabon (X tons) and Libya (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to tall oil imports into South Africa stood at X%. At the same time, Nigeria (X%), Libya (X%), Gabon (X%) and Tunisia (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2022. By contrast, Algeria (X%) and Senegal (X%) illustrated a downward trend over the same period. While the share of Tunisia (X p.p.), Nigeria (X p.p.) and Gabon (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of South Africa (X p.p.) and Senegal (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X), Tunisia ($X) and Senegal ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Algeria, Gabon, Nigeria and Libya lagged somewhat behind, together comprising a further X%.

Libya, with a CAGR of X%, recorded the highest rates of growth with regard to 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 2022, the import price in Africa amounted to $X per ton, with an increase of X% against the previous year. Import price indicated a resilient expansion from 2012 to 2022: its price 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, tall oil import price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2019 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Gabon ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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