Africa: Styrene Market 2024

Styrene Market Size in Africa

The African styrene market contracted slightly to $X in 2022, with a decrease of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Styrene Production in Africa

In value terms, styrene production fell to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Styrene Exports

Exports in Africa

In 2022, the amount of styrene exported in Africa fell notably to X tons, reducing by X% compared with 2021 figures. In general, exports continue to indicate a sharp reduction. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, styrene exports contracted notably to $X in 2022. Overall, exports recorded a significant decline. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

South Africa represented the main exporting country with an export of around X tons, which resulted at X% of total exports. Tunisia (X tons) ranks second in terms of the total exports with a X% share, followed by Uganda (X%).

Exports from South Africa decreased at an average annual rate of X% from 2012 to 2022. At the same time, Uganda (X%) and Tunisia (X%) displayed positive paces of growth. Moreover, Uganda emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of South Africa, Tunisia and Uganda increased by X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) emerged as the largest styrene supplier in Africa, comprising X% of total exports. The second position in the ranking was held by Tunisia ($X), with a X% share of total exports.

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

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, growing by X% against the previous year. Export price indicated moderate growth 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, styrene export price decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Uganda ($X per ton), while Tunisia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uganda (X%), while the other leaders experienced a decline in the export price figures.

Styrene Imports

Imports in Africa

Styrene imports contracted to X tons in 2022, reducing by X% compared with the previous year's figure. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of X tons, and then dropped in the following year.

In value terms, styrene imports contracted to $X in 2022. Total imports indicated a perceptible increase from 2012 to 2022: its value 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

South Africa was the main importer of styrene in Africa, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. Egypt (X tons) took the second position in the ranking, distantly followed by Tunisia (X tons). All these countries together took near X% share of total imports. Morocco (X tons), Lesotho (X tons), Nigeria (X tons) and Kenya (X tons) followed a long way behind the leaders.

South Africa experienced a relatively flat trend pattern with regard to volume of imports of styrene. At the same time, Egypt (X%), Kenya (X%) and Tunisia (X%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2022. Nigeria, Lesotho and Morocco experienced a relatively flat trend pattern. From 2012 to 2022, the share of Egypt and Lesotho increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X), Egypt ($X) and Tunisia ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports.

Egypt, with a CAGR of X%, 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 2022, the import price in Africa amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :