Key Market Indicators
South African aromatics exports are projected to decline to $107,000 by 2028, down from approximately $113,000 in 2023, reflecting a year-on-year compound annual growth rate (CAGR) decrease of 0.8%. Despite the anticipated drop, South African supply has shown a consistent annual increase of 2% since 2005. In the global arena, South Africa ranked 20th in aromatics exports in 2023, with Hungary slightly ahead at the same export value of around $113,000. Leading the ranking were China, India, and Japan, occupying the second, third, and fourth positions, respectively. On the import side, South African aromatics are expected to rise to $157,000 by 2028 from an estimated $153,000 in 2023, marking an average annual growth rate of 0.5%. Since 2005, the country’s demand for aromatics has grown significantly, with an average annual increase of 5.3%.
