Africa: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in Africa

In 2022, the African chemically modified oils market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, recorded a buoyant increase. The level of consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Chemically Modified Oils Production in Africa

In value terms, chemically modified oils production rose modestly to $X in 2022 estimated in export price. Over the period under review, production, however, posted a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

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Chemically Modified Oils Exports

Exports in Africa

Chemically modified oils exports stood at X tons in 2022, therefore, remained relatively stable against the previous year. Over the period under review, exports recorded a prominent increase. The growth pace was the most rapid in 2020 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, chemically modified oils exports soared to $X in 2022. In general, exports posted strong growth. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

South Africa (X tons) and Egypt (X tons) represented roughly X% of total exports in 2022. It was distantly followed by Morocco (X tons), generating a X% share of total exports.

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

In value terms, South Africa ($X), Egypt ($X) and Morocco ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

In terms of the main exporting countries, Egypt, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, rising by X% against the previous year. In general, the export price saw a notable expansion. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the near future.

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

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

Chemically Modified Oils Imports

Imports in Africa

Chemically modified oils imports contracted to X tons in 2022, waning by X% against 2021. In general, imports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, chemically modified oils imports rose remarkably to $X in 2022. Total imports indicated prominent growth 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 was the most pronounced in 2013 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Egypt represented the key importing country with an import of around X tons, which reached X% of total imports. South Africa (X tons) ranks second in terms of the total imports with a X% share, followed by Malawi (X%), Somalia (X%) and Angola (X%). The following importers - Burkina Faso (X tons), Nigeria (X tons), Morocco (X tons), Sudan (X tons), Mozambique (X tons), Kenya (X tons) and Algeria (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to chemically modified oils imports into Egypt stood at X%. At the same time, Angola (X%), Nigeria (X%), Mozambique (X%), Burkina Faso (X%), Somalia (X%), Sudan (X%), Algeria (X%), Malawi (X%) and South Africa (X%) displayed positive paces of growth. Moreover, Angola emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2022. Morocco experienced a relatively flat trend pattern. By contrast, Kenya (X%) illustrated a downward trend over the same period. While the share of Egypt (X p.p.), Angola (X p.p.), Somalia (X p.p.), Nigeria (X p.p.), Burkina Faso (X p.p.) and Mozambique (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Malawi (X p.p.), Kenya (X p.p.), Morocco (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, Egypt ($X) constitutes the largest market for imported animal or vegetable fats and oils chemically modified in Africa, comprising X% of total imports. The second position in the ranking was held by South Africa ($X), with a X% share of total imports. It was followed by Malawi, with a X% share.

In Egypt, chemically modified oils imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Africa (X% per year) and Malawi (X% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; afterwards, it flattened through to 2022.

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 Algeria ($X per ton), while Mozambique ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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