Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in South Africa - 2024
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in South Africa (CIF) - 2022
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in South Africa (FOB) - 2022
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in South Africa
- Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in South Africa
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in South Africa (CIF) - 2022
The average import price for acids; saturated acyclic monocarboxylic acids; formic acids stood at $860 per ton in 2022, surging by 55% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The import price peaked at $1,040 per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Finland ($4,133 per ton), while the price for China ($577 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+16.9%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in South Africa (FOB) - 2022
In 2022, the average export price for acids; saturated acyclic monocarboxylic acids; formic acids amounted to $3,157 per ton, jumping by 38% against the previous year. In general, the export price posted a buoyant increase. The growth pace was the most rapid in 2021 an increase of 191%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($5,500 per ton), while the average price for exports to Botswana ($1,076 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 Tanzania (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in South Africa
Imports of acids; saturated acyclic monocarboxylic acids; formic acids into South Africa soared to 7.4K tons in 2022, jumping by 23% on 2021 figures. Over the period under review, imports saw significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 69%. Over the period under review, imports of reached the peak figure in 2022 and are likely to see steady growth in years to come.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; formic acids soared to $6.4M in 2022. In general, imports enjoyed a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in South Africa (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 749 | 411 | 872 | 2,006 | 38.9% |
| Germany | 304 | 335 | 555 | 1,020 | 49.7% |
| Hong Kong SAR | N/A | N/A | 53.5 | N/A | 0% |
| Others | 1,602 | 1,067 | 1,867 | 3,351 | 27.9% |
| Total | 2,655 | 1,813 | 3,348 | 6,377 | 33.9% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid to South Africa in 2022:
- China (3.5K tons)
- Germany (1.2K tons)
Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in South Africa
In 2022, exports of acids; saturated acyclic monocarboxylic acids; formic acids from South Africa reached 127 tons, picking up by 5.4% on the previous year. The total export volume increased at an average annual rate of +1.2% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 8.8%. Over the period under review, the exports of hit record highs in 2022 and are likely to continue growth in the near future.
In value terms, exports of acids; saturated acyclic monocarboxylic acids; formic acids surged to $401K in 2022. Over the period under review, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 216% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in years to come.
| Export of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in South Africa (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Zimbabwe | 4.7 | 16.8 | 39.6 | 79.8 | 157.0% |
| Namibia | 32.8 | 12.6 | 56.1 | 55.1 | 18.9% |
| Zambia | 14.9 | 3.7 | 28.7 | 26.6 | 21.3% |
| United Arab Emirates | N/A | N/A | N/A | 17.9 | 0% |
| Botswana | 1.7 | 0.7 | 1.6 | 2.3 | 10.6% |
| Lesotho | 3.0 | 2.7 | 1.4 | 0.5 | -45.0% |
| Nigeria | 3.6 | 1.7 | 2.1 | N/A | -23.6% |
| Others | 67.7 | 48.8 | 145 | 218 | 47.7% |
| Total | 128 | 86.9 | 275 | 401 | 46.3% |
Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid from South Africa in 2022:
- Zimbabwe (52.4 tons)
- Namibia (41.5 tons)
- Zambia (21.9 tons)
- United Arab Emirates (3.3 tons)
- Botswana (2.2 tons)
- Lesotho (0.5 tons)
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