SADC: Phenols Market 2024

Phenols Market Size in SADC

The SADC phenols market rose slightly to $X in 2023, with an increase of X% against the previous year. The total consumption indicated temperate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. The level of consumption peaked in 2023 and is likely to see gradual growth in the near future.

Phenols Production in SADC

In value terms, phenols production expanded slightly to $X in 2023 estimated in export price. Over the period under review, production saw a perceptible increase. The pace of growth was the most pronounced in 2021 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Phenols Exports

Exports in SADC

In 2023, the amount of phenols exported in SADC stood at X tons, with an increase of X% against 2022. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. The volume of export peaked at X tons in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

In value terms, phenols exports reduced remarkably to $X in 2023. Overall, exports, however, saw a pronounced reduction. The growth pace was the most rapid in 2021 when exports increased by X%. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of phenols, namely South Africa, represented more than two-thirds of total export.

South Africa experienced a relatively flat trend pattern with regard to volume of exports of phenols. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest phenols supplier in SADC.

From 2012 to 2023, the average annual rate of growth in terms of value in South Africa totaled X%.

Export Prices by Country

In 2023, the export price in SADC amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price saw a pronounced downturn. 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 2023, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2023, the rate of growth in terms of prices for South Africa amounted to X% per year.

Phenols Imports

Imports in SADC

In 2023, imports of phenols in SADC dropped to X tons, waning by X% on the previous year's figure. Over the period under review, imports continue to indicate a pronounced slump. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, phenols imports declined sharply to $X in 2023. In general, imports showed a mild contraction. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then contracted significantly in the following year.

Imports by Country

South Africa was the key importer of phenols in SADC, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2023. It was distantly followed by Democratic Republic of the Congo (X tons), generating a X% share of total imports. Zimbabwe (X tons), Zambia (X tons), Tanzania (X tons) and Angola (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to phenols imports into South Africa stood at X%. At the same time, Zambia (X%), Zimbabwe (X%) and Angola (X%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing importer imported in SADC, with a CAGR of X% from 2012-2023. Tanzania experienced a relatively flat trend pattern. By contrast, Democratic Republic of the Congo (X%) illustrated a downward trend over the same period. While the share of Zambia (X p.p.), Zimbabwe (X p.p.) and Angola (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Democratic Republic of the Congo (X p.p.) and South Africa (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest phenols importing markets in SADC were South Africa ($X), Democratic Republic of the Congo ($X) and Zimbabwe ($X), together accounting for X% of total imports. Angola, Tanzania and Zambia lagged somewhat behind, together accounting for a further X%.

Angola, with a CAGR of X%, recorded the highest growth rate of 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 2023, the import price in SADC amounted to $X per ton, declining by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, and then fell in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Democratic Republic of the Congo ($X per ton), while Zambia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Tanzania (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform