Africa: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in Africa

The African synthetic rubber (excluding latex) market dropped modestly to $X in 2023, with a decrease of X% against the previous year. Overall, consumption continues to indicate a mild setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

Production of Synthetic Rubber (Excluding Latex) in Africa

In value terms, synthetic rubber (excluding latex) production stood at $X in 2023 estimated in export price. Over the period under review, production saw a noticeable contraction. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Exports of Synthetic Rubber (Excluding Latex)

Exports in Africa

In 2023, overseas shipments of synthetic rubber (excluding latex) increased by X% to X tons, rising for the third year in a row after four years of decline. In general, exports, however, continue to indicate a abrupt curtailment. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, synthetic rubber (excluding latex) exports surged to $X in 2023. Over the period under review, exports, however, recorded a deep setback. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Egypt represented the key exporting country with an export of about X tons, which resulted at X% of total exports. Cote d'Ivoire (X tons) took the second position in the ranking, followed by South Africa (X tons) and Swaziland (X tons). All these countries together held near X% share of total exports. The following exporters - Tunisia (X tons) and Nigeria (X tons) - together made up X% of total exports.

Egypt was also the fastest-growing in terms of the synthetic rubber (excluding latex) exports, with a CAGR of X% from 2012 to 2023. At the same time, Swaziland (X%), Tunisia (X%), Cote d'Ivoire (X%) and Nigeria (X%) displayed positive paces of growth. By contrast, South Africa (X%) illustrated a downward trend over the same period. Egypt (X p.p.), Cote d'Ivoire (X p.p.), Swaziland (X p.p.), Tunisia (X p.p.) and Nigeria (X p.p.) significantly strengthened its position in terms of the total exports, while South Africa saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Egypt ($X) emerged as the largest synthetic rubber (excluding latex) supplier in Africa, comprising X% of total exports. The second position in the ranking was taken by South Africa ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with a X% share.

In Egypt, synthetic rubber (excluding latex) exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: South Africa (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

In 2023, the export price in Africa amounted to $X per ton, shrinking by X% against the previous year. In general, the export price showed a perceptible reduction. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Swaziland ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced a decline in the export price figures.

Imports of Synthetic Rubber (Excluding Latex)

Imports in Africa

In 2023, approx. X tons of synthetic rubber (excluding latex) were imported in Africa; with a decrease of 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 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of X%. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, synthetic rubber (excluding latex) imports shrank sharply to $X in 2023. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2022, and then contracted sharply in the following year.

Imports by Country

South Africa was the major importing country with an import of around X tons, which finished at X% of total imports. Egypt (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Morocco (X%), Algeria (X%) and Tunisia (X%). Nigeria (X tons) and Kenya (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to synthetic rubber (excluding latex) imports into South Africa stood at X%. At the same time, Algeria (X%), Morocco (X%) and Nigeria (X%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2023. Tunisia experienced a relatively flat trend pattern. By contrast, Kenya (X%) and Egypt (X%) illustrated a downward trend over the same period. While the share of South Africa (X p.p.), Morocco (X p.p.) and Algeria (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Tunisia (X p.p.), Kenya (X p.p.) and Egypt (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported synthetic rubber (excluding latex) in Africa, comprising X% of total imports. The second position in the ranking was held by Egypt ($X), with a X% share of total imports. It was followed by Morocco, with a X% share.

In South Africa, synthetic rubber (excluding latex) imports remained relatively stable over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Egypt (X% per year) and Morocco (X% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2023, which is down by X% against the previous year. Overall, the import price showed a perceptible slump. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Morocco (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform