SADC: Zinc Market 2024

Zinc Market Size in SADC

For the third year in a row, the SADC zinc market recorded growth in sales value, which increased by 22% to $X in 2021. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +40.8% against 2017 indices. The level of consumption peaked in 2021 and is likely to see steady growth in years to come.

Zinc Production in SADC

In value terms, zinc production totaled $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 44%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Zinc Exports

Exports in SADC

For the third consecutive year, SADC recorded decline in overseas shipments of zinc, which decreased by -93.7% to X tons in 2021. Overall, exports recorded a precipitous curtailment. The pace of growth was the most pronounced in 2018 with an increase of 45%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, zinc exports reduced notably to $X in 2021. In general, exports faced a precipitous descent. The pace of growth appeared the most rapid in 2018 when exports increased by 35%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Namibia represented the main exporting country with an export of around X tons, which recorded 57% of total exports. Democratic Republic of the Congo (X tons) held the second position in the ranking, followed by South Africa (X tons) and Tanzania (X tons). All these countries together took near 39% share of total exports. Swaziland (X tons) held a minor share of total exports.

Exports from Namibia decreased at an average annual rate of -41.8% from 2012 to 2021. At the same time, South Africa (+6.3%) displayed positive paces of growth. Moreover, South Africa emerged as the fastest-growing exporter exported in SADC, with a CAGR of +6.3% from 2012-2021. By contrast, Tanzania (-2.0%), Democratic Republic of the Congo (-2.8%) and Swaziland (-8.2%) illustrated a downward trend over the same period. While the share of Democratic Republic of the Congo (+17 p.p.), South Africa (+15 p.p.), Tanzania (+6.3 p.p.) and Swaziland (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Namibia (-42.1 p.p.) displayed negative dynamics.

In value terms, Namibia ($X) remains the largest zinc supplier in SADC, comprising 59% of total exports. The second position in the ranking was taken by Democratic Republic of the Congo ($X), with a 19% share of total exports. It was followed by South Africa, with a 13% share.

In Namibia, zinc exports contracted by an average annual rate of -38.8% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Democratic Republic of the Congo (+0.8% per year) and South Africa (+7.1% per year).

Export Prices by Country

The export price in SADC stood at $X per ton in 2021, surging by 43% against the previous year. Export price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 an increase of 51%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Democratic Republic of the Congo ($X per ton) and Namibia ($X per ton), while South Africa ($X per ton) and Swaziland ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tanzania (+17.9%), while the other leaders experienced more modest paces of growth.

Zinc Imports

Imports in SADC

In 2021, overseas purchases of zinc were finally on the rise to reach X tons after six years of decline. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by 85%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, zinc imports skyrocketed to $X in 2021. Total imports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when imports increased by 63% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

South Africa dominates imports structure, recording X tons, which was approx. 92% of total imports in 2021. Tanzania (X tons) and Mozambique (X tons) held a little share of total imports.

South Africa experienced a relatively flat trend pattern with regard to volume of imports of zinc. At the same time, Mozambique (+68.5%) displayed positive paces of growth. Moreover, Mozambique emerged as the fastest-growing importer imported in SADC, with a CAGR of +68.5% from 2012-2021. By contrast, Tanzania (-9.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of South Africa and Mozambique increased by +4.8 and +2.6 percentage points, respectively.

In value terms, South Africa ($X) constitutes the largest market for imported zinc in SADC, comprising 90% of total imports. The second position in the ranking was taken by Tanzania ($X), with a 5.9% share of total imports.

In South Africa, zinc imports expanded at an average annual rate of +2.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Tanzania (-5.2% per year) and Mozambique (+52.0% per year).

Import Prices by Country

In 2021, the import price in SADC amounted to $X per ton, with an increase of 7.7% against the previous year. Import price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, zinc import price decreased by -17.3% against 2018 indices. The most prominent rate of growth was recorded in 2015 an increase of 73% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Tanzania ($X per ton), while Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tanzania (+4.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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