South Africa: Derivatives Of Hydrocarbons Market 2024

Derivatives Of Hydrocarbons Market Size in South Africa

After two years of growth, the South African derivatives of hydrocarbons market decreased by X% to $X in 2022. Overall, consumption, however, continues to indicate significant growth. Derivatives of hydrocarbons consumption peaked at $X in 2021, and then dropped sharply in the following year.

Derivatives Of Hydrocarbons Exports

Exports from South Africa

In 2022, the amount of derivatives of hydrocarbons other than containing only sulpho-, nitro-, or nitroso groups exported from South Africa soared to X tons, picking up by X% on the year before. Overall, exports continue to indicate strong growth. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, derivatives of hydrocarbons exports skyrocketed to $X in 2022. Over the period under review, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Zimbabwe (X tons), Botswana (X tons) and Nigeria (X tons) were the main destinations of derivatives of hydrocarbons exports from South Africa, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for derivatives of hydrocarbons exported from South Africa were Zimbabwe ($X), Botswana ($X) and Nigeria ($X), together accounting for X% of total exports.

In terms of the main countries of destination, Nigeria, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average derivatives of hydrocarbons export price amounted to $X per ton, reducing by X% against the previous year. In general, the export price saw a perceptible curtailment. The growth pace was the most rapid in 2013 an increase of X%. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Angola ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Zimbabwe (X%), while the prices for the other major destinations experienced a decline.

Derivatives Of Hydrocarbons Imports

Imports into South Africa

In 2022, purchases abroad of derivatives of hydrocarbons other than containing only sulpho-, nitro-, or nitroso groups decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then reduced in the following year.

In value terms, derivatives of hydrocarbons imports rose to $X in 2022. Overall, imports, however, posted a significant increase. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, the United States (X tons) constituted the largest derivatives of hydrocarbons supplier to South Africa, accounting for a X% share of total imports. Moreover, derivatives of hydrocarbons imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. India (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and India (X% per year).

In value terms, the United States ($X) constituted the largest supplier of derivatives of hydrocarbons other than containing only sulpho-, nitro-, or nitroso groups to South Africa, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by India, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and India (X% per year).

Import Prices by Country

The average derivatives of hydrocarbons import price stood at $X per ton in 2022, rising by X% against the previous year. In general, the import price enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2016 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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