Forecasted data shows that the import of Urea Resins and Thiourea Resins to South Africa is expected to decline consistently from 2024 to 2028. The volume is projected to decrease from 833.42 thousand kilograms in 2024 to 705.95 thousand kilograms in 2028. This represents a compound annual growth rate (CAGR) of around -3.2% over the five years.
Year-on-year variations:- 2024 vs. 2025: Decrease by 3.9%- 2025 vs. 2026: Decrease by 4.0%- 2026 vs. 2027: Decrease by 4.1%- 2027 vs. 2028: Decrease by 4.2%
In 2023, the actual volume stood at 870 thousand kilograms, indicating consistent reductions over the forecasted period.
Future trends to watch for include potential advancements in the domestic production of these resins, which could lead to further declines in import volumes. Additionally, shifts in trade policies and economic conditions could impact future import projections.