ASEAN: Market for Industrial Monocarboxylic Fatty Acids 2025

Market Size for Industrial Monocarboxylic Fatty Acids in ASEAN

The ASEAN industrial monocarboxylic fatty acids market declined to $X in 2021, shrinking by -6.8% against the previous year. Overall, consumption continues to indicate a slight slump. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Industrial Monocarboxylic Fatty Acids in ASEAN

In value terms, industrial monocarboxylic fatty acids production declined to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 28%. The level of production peaked at $X in 2020, and then fell in the following year.

Exports of Industrial Monocarboxylic Fatty Acids

Exports in ASEAN

In 2021, industrial monocarboxylic fatty acids exports in ASEAN surged to X tons, jumping by 18% against the year before. Total exports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +8.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 27% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, industrial monocarboxylic fatty acids exports soared to $X in 2021. Over the period under review, exports saw a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Indonesia (X tons) was the key exporter of industrial monocarboxylic fatty acids, constituting 64% of total exports. It was distantly followed by Malaysia (X tons), comprising a 33% share of total exports. Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +11.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial monocarboxylic fatty acids supplying countries in ASEAN were Indonesia ($X), Malaysia ($X) and Thailand ($X), together accounting for 99% of total exports.

In terms of the main exporting countries, Indonesia, with a CAGR of +13.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, growing by 57% against the previous year. Export price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.9% 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 monocarboxylic fatty acids export price increased by +88.1% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+1.4%), while the other leaders experienced mixed trends in the export price figures.

Imports of Industrial Monocarboxylic Fatty Acids

Imports in ASEAN

In 2021, after two years of decline, there was significant growth in purchases abroad of industrial monocarboxylic fatty acids, when their volume increased by 8.2% to X tons. Over the period under review, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2014 when imports increased by 40%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, industrial monocarboxylic fatty acids imports skyrocketed to $X in 2021. Overall, imports showed a resilient increase. The pace of growth appeared the most rapid in 2014 when imports increased by 69%. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Malaysia represented the major importing country with an import of around X tons, which amounted to 75% of total imports. It was distantly followed by Singapore (X tons), mixing up an 18% share of total imports. Thailand (X tons) and Indonesia (X tons) followed a long way behind the leaders.

Malaysia was also the fastest-growing in terms of the industrial monocarboxylic fatty acids imports, with a CAGR of +11.3% from 2012 to 2021. At the same time, Thailand (+8.1%) and Indonesia (+6.1%) displayed positive paces of growth. Singapore experienced a relatively flat trend pattern. Malaysia (+17 p.p.) significantly strengthened its position in terms of the total imports, while Singapore saw its share reduced by -16.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) constitutes the largest market for imported industrial monocarboxylic fatty acids in ASEAN, comprising 75% of total imports. The second position in the ranking was taken by Singapore ($X), with a 16% share of total imports. It was followed by Thailand, with a 3.6% share.

From 2012 to 2021, the average annual growth rate of value in Malaysia amounted to +12.7%. The remaining importing countries recorded the following average annual rates of imports growth: Singapore (+1.8% per year) and Thailand (+4.3% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, growing by 52% against the previous year. Import price indicated slight 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 monocarboxylic fatty acids import price increased by +91.6% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Thailand ($X per ton) and Indonesia ($X per ton), while Singapore ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+1.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform