Africa: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Africa

The African market for processed petroleum oils and distillates reached $X in 2022, increasing by X% against the previous year. The total consumption indicated a modest 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, consumption increased by X% against 2020 indices. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Production of Processed Petroleum Oils and Distillates in Africa

In value terms, processed petroleum oils and distillates production shrank modestly to $X in 2022 estimated in export price. In general, production continues to indicate a abrupt downturn. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Exports of Processed Petroleum Oils and Distillates

Exports in Africa

In 2022, exports of processed petroleum oils and distillates in Africa contracted slightly to X tons, approximately mirroring the previous year. The total export volume increased at an average annual rate of X% 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 with an increase of X%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, processed petroleum oils and distillates exports amounted to $X in 2022. In general, exports showed a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Algeria (X tons) was the major exporter of processed petroleum oils and distillates, achieving X% of total exports. Egypt (X tons) ranks second in terms of the total exports with a X% share, followed by South Africa (X%) and Libya (X%). Senegal (X tons), Nigeria (X tons), Mozambique (X tons), Angola (X tons), Congo (X tons) and Cote d'Ivoire (X tons) followed a long way behind the leaders.

Algeria experienced a relatively flat trend pattern with regard to volume of exports of processed petroleum oils and distillates. At the same time, Egypt (X%), Senegal (X%), South Africa (X%), Congo (X%), Angola (X%) and Mozambique (X%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2022. By contrast, Cote d'Ivoire (X%), Nigeria (X%) and Libya (X%) illustrated a downward trend over the same period. Egypt (X p.p.), South Africa (X p.p.), Angola (X p.p.) and Senegal (X p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire, Nigeria, Algeria and Libya saw its share reduced by X%, X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Algeria ($X) remains the largest processed petroleum oils and distillates supplier in Africa, comprising X% of total exports. The second position in the ranking was taken by South Africa ($X), with a X% share of total exports. It was followed by Mozambique, with a X% share.

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

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, picking up by X% against the previous year. In general, the export price, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mozambique ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

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

Imports of Processed Petroleum Oils and Distillates

Imports in Africa

Processed petroleum oils and distillates imports expanded sharply to X tons in 2022, picking up by X% against the previous year's figure. In general, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, processed petroleum oils and distillates imports soared to $X in 2022. Overall, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Nigeria (X tons), South Africa (X tons), Egypt (X tons), Morocco (X tons) and Togo (X tons) represented roughly X% of total imports in 2022. It was distantly followed by Mozambique (X tons), constituting a X% share of total imports. Tanzania (X tons), Kenya (X tons), Libya (X tons), Senegal (X tons), Algeria (X tons), Liberia (X tons) and Angola (X tons) held a little share of total imports.

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

In value terms, South Africa ($X), Nigeria ($X) and Egypt ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Togo, Morocco, Mozambique, Tanzania, Angola, Kenya, Algeria, Libya, Liberia and Senegal lagged somewhat behind, together comprising a further X%.

Mozambique, with a CAGR of X%, recorded the highest rates of growth with regard to 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 2022, the import price in Africa amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price, however, showed a deep setback. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Angola ($X per ton), while Senegal ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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