Argentina: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Argentina

In 2021, the Argentinian industrial stearic acid market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, recorded a abrupt descent. The pace of growth was the most pronounced in 2018 with an increase of 9.5%. Industrial stearic acid consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Industrial Stearic Acid Production in Argentina

In value terms, industrial stearic acid production contracted to $X in 2021 estimated in export price. In general, production, however, showed a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of 6% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Industrial Stearic Acid Exports

Exports from Argentina

In 2021, the amount of industrial stearic acid exported from Argentina expanded markedly to X tons, increasing by 5.5% compared with 2020 figures. Overall, exports enjoyed a modest expansion. The growth pace was the most rapid in 2017 with an increase of 74% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, industrial stearic acid exports skyrocketed to $X in 2021. Over the period under review, exports saw temperate growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Brazil (X tons) was the main destination for industrial stearic acid exports from Argentina, with a 61% share of total exports. Moreover, industrial stearic acid exports to Brazil exceeded the volume sent to the second major destination, Mexico (X tons), fourfold. Colombia (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Brazil stood at -1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+18.4% per year) and Colombia (+5.9% per year).

In value terms, Brazil ($X) remains the key foreign market for industrial stearic acid exports from Argentina, comprising 68% of total exports. The second position in the ranking was taken by Colombia ($X), with a 14% share of total exports. It was followed by Mexico, with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Brazil stood at +1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+10.2% per year) and Mexico (+8.2% per year).

Export Prices by Country

In 2021, the average industrial stearic acid export price amounted to $X per ton, picking up by 71% against the previous year. Overall, export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial stearic acid export price increased by +95.3% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Colombia ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Stearic Acid Imports

Imports into Argentina

After four years of decline, overseas purchases of industrial stearic acid increased by 593% to X tons in 2021. Overall, imports saw resilient growth. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, industrial stearic acid imports soared to $X in 2021. In general, imports saw a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Brazil (X tons) constituted the largest industrial stearic acid supplier to Argentina, accounting for a 78% share of total imports. Moreover, industrial stearic acid imports from Brazil exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), more than tenfold. Malaysia (X tons) ranked third in terms of total imports with a 2.4% share.

From 2012 to 2021, the average annual growth rate of volume from Brazil stood at +33.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+7.6% per year) and Malaysia (-5.9% per year).

In value terms, Brazil ($X) constituted the largest supplier of industrial stearic acid to Argentina, comprising 80% of total imports. The second position in the ranking was held by Indonesia ($X), with a 4.5% share of total imports. It was followed by Malaysia, with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Brazil amounted to +36.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+9.3% per year) and Malaysia (-0.1% per year).

Import Prices by Country

In 2021, the average industrial stearic acid import price amounted to $X per ton, surging by 7.4% against the previous year. Over the period under review, import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial stearic acid import price increased by +60.4% against 2019 indices. The growth pace was the most rapid in 2020 an increase of 49%. Over the period under review, average import prices reached the maximum in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the Netherlands ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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