Africa: Market for Palmitic Acid, Stearic Acid, Their Salts And Esters 2024

Market Size for Palmitic Acid, Stearic Acid, Their Salts And Esters in Africa

The African market for palmitic acid, stearic acid, their salts and esters declined slightly to $X in 2021, falling by -2.5% against the previous year. Over the period under review, consumption saw a pronounced decline. The growth pace was the most rapid in 2017 when the market value increased by 9.3% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Palmitic Acid, Stearic Acid, Their Salts And Esters in Africa

In value terms, production of palmitic acid, stearic acid, their salts and esters expanded rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a drastic downturn. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Exports in Africa

In 2021, overseas shipments of palmitic acid, stearic acid, their salts and esters decreased by -62.4% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2019 with an increase of 152%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, exports of palmitic acid, stearic acid, their salts and esters contracted rapidly to $X in 2021. In general, exports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2020 when exports increased by 170%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Kenya (X tons) and South Africa (X tons) represented roughly 62% of total exports in 2021. Gabon (X tons) took a 15% share (based on physical terms) of total exports, which put it in second place, followed by Sierra Leone (12%) and Ghana (8.3%).

From 2012 to 2021, the biggest increases were recorded for Gabon (with a CAGR of +58.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) emerged as the largest palmitic acid, stearic acid, their salts and esters supplier in Africa, comprising 48% of total exports. The second position in the ranking was taken by Kenya ($X), with a 23% share of total exports. It was followed by Gabon, with a 16% share.

In South Africa, exports of palmitic acid, stearic acid, their salts and esters expanded at an average annual rate of +10.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Kenya (-20.8% per year) and Gabon (+35.5% per year).

Export Prices by Country

In 2021, the export price in Africa amounted to $X per ton, picking up by 52% against the previous year. Export price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for palmitic acid, stearic acid, their salts and esters increased by +63.0% against 2019 indices. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Sierra Leone ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+0.2%), while the other leaders experienced a decline in the export price figures.

Imports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Imports in Africa

After four years of growth, supplies from abroad of palmitic acid, stearic acid, their salts and esters decreased by -21.1% to X tons in 2021. Total imports indicated modest growth from 2012 to 2021: its volume increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 27%. Over the period under review, imports of attained the peak figure at X tons in 2020, and then shrank notably in the following year.

In value terms, imports of palmitic acid, stearic acid, their salts and esters declined to $X in 2021. The total import value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2017 when imports increased by 23% against the previous year. Over the period under review, imports of reached the maximum at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Nigeria (X tons) and South Africa (X tons) represented roughly 62% of total imports in 2021. Ethiopia (X tons) ranks next in terms of the total imports with an 11% share, followed by Senegal (5.5%). Cote d'Ivoire (X tons), Mauritius (X tons), Egypt (X tons) and Djibouti (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Mauritius (with a CAGR of +50.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), South Africa ($X) and Ethiopia ($X) were the countries with the highest levels of imports in 2021, with a combined 69% share of total imports. These countries were followed by Egypt, Cote d'Ivoire, Mauritius, Senegal and Djibouti, which together accounted for a further 19%.

Mauritius, with a CAGR of +50.2%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Africa amounted to $X per ton, picking up by 20% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Egypt ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Djibouti (+0.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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