South Africa Paraffin Market

Synopsis
The above chart is South Africa Paraffin Market Outlook (2018 to 2032)

Market Dynamics

the south african paraffin market is an important and highly complex market to consider. in this market, supply and demand of paraffin has a direct impact on both prices and consumption. when looking at both demand and supply of paraffin in south africa, the population has seen consistent growth over the last twenty years. this is resulting in increased demand for paraffin from households, institutions, and businesses. furthermore, the increasing number of people living in poverty in south africa is driving demand for paraffin as people are unable to access other fuels, and are turning to paraffin as an alternative. in terms of supply, it is estimated that imports of paraffin account for around 90% of the supply in south africa. these imports are typically sourced from major suppliers in the middle east and africa. domestically, south africa has one of the largest paraffin refineries in the world, albeit with capacity constraints. for the years 2018 to 2032, it is expected that demand for paraffin will remain strong due to the population's growth and ongoing poverty. the key challenge for the market is the availability of supply, as south african paraffin refineries are unable to meet the entire demand of the country. as a result, it is likely that imports of paraffin from abroad will remain high. in conclusion, the outlook for the south african paraffin market over the next fourteen years is likely to be stable and driven by population growth and poverty. as domestic paraffin refineries remain capacity constrained, it is expected that imports of paraffin to south africa will continue to be high.