The import value of glass microspheres to South Africa in 2023 stood at 2.14 million US dollars. Trends from 2013 to 2023 reveal a fluctuating pattern with initial increases followed by periods of declines and recoveries. The year-on-year variation for 2022 was 1.3%, showing a slight increase, whereas 2023 showed a minimal growth at 1.26%. The compound annual growth rate (CAGR) indicates that over the last five years, the average annual change has been relatively stunted, showing almost negligible growth at 0.13%.
Future forecasts from 2024 to 2028 suggest moderate growth, with a forecasted 5-year CAGR of 0.99%, indicating an overall 5.05% growth over this forecast period. This implies a steady but slow upward trend in the import value of glass microspheres.
Future trends to watch for:
- Technological advancements in glass microsphere applications
- Changes in industrial demand within South Africa and globally
- Economic factors affecting import tariffs and exchange rates
