ASEAN: Market for Lauric Acid And Other Acids, Their Salts And Esters 2024

Market Size for Lauric Acid And Other Acids, Their Salts And Esters in ASEAN

The ASEAN market for lauric acid and other acids, their salts and esters was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Lauric Acid And Other Acids, Their Salts And Esters in ASEAN

In value terms, production of lauric acid and other acids, their salts and esters reduced slightly to $X in 2021 estimated in export price. The total production indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +5.5% against 2019 indices. The growth pace was the most rapid in 2014 when the production volume increased by 24%. Over the period under review, production of attained the peak level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Exports of Lauric Acid And Other Acids, Their Salts And Esters

Exports in ASEAN

In 2021, shipments abroad of lauric acid and other acids, their salts and esters increased by 7% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports enjoyed a buoyant expansion. The growth pace was the most rapid in 2020 when exports increased by 46% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, exports of lauric acid and other acids, their salts and esters skyrocketed to $X in 2021. Overall, exports enjoyed prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Indonesia was the major exporter of lauric acid and other acids, their salts and esters in ASEAN, with the volume of exports amounting to X tons, which was near 60% of total exports in 2021. It was distantly followed by Malaysia (X tons), making up a 38% share of total exports. Singapore (X tons) held a little share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Indonesia (with a CAGR of +21.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest lauric acid and other acids, their salts and esters supplying countries in ASEAN were Indonesia ($X), Malaysia ($X) and Singapore ($X), with a combined 99% share of total exports.

Among the main exporting countries, Indonesia, with a CAGR of +20.2%, saw the highest growth rate of 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, picking up by 58% against the previous year. Over the period under review, the export price, however, recorded a slight contraction. Over the period under review, the export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+2.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Lauric Acid And Other Acids, Their Salts And Esters

Imports in ASEAN

For the third year in a row, ASEAN recorded growth in purchases abroad of lauric acid and other acids, their salts and esters, which increased by 79% to X tons in 2021. Over the period under review, imports continue to indicate resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of lauric acid and other acids, their salts and esters skyrocketed to $X in 2021. In general, imports enjoyed a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the Philippines (X tons) was the key importer of lauric acid and other acids, their salts and esters, committing 44% of total imports. Malaysia (X tons) held the second position in the ranking, followed by Thailand (X tons), Singapore (X tons), Indonesia (X tons) and Vietnam (X tons). All these countries together held near 56% share of total imports.

The Philippines was also the fastest-growing in terms of the lauric acid and other acids, their salts and esters imports, with a CAGR of +46.7% from 2012 to 2021. At the same time, Malaysia (+19.6%), Vietnam (+13.9%), Thailand (+3.5%) and Singapore (+3.0%) displayed positive paces of growth. By contrast, Indonesia (-2.5%) illustrated a downward trend over the same period. While the share of the Philippines (+40 p.p.) and Malaysia (+8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Singapore (-11 p.p.), Thailand (-15.9 p.p.) and Indonesia (-21.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) constitutes the largest market for imported lauric acid and other acids, their salts and esters in ASEAN, comprising 35% of total imports. The second position in the ranking was taken by Singapore ($X), with a 17% share of total imports. It was followed by Thailand, with a 17% share.

In the Philippines, imports of lauric acid and other acids, their salts and esters increased at an average annual rate of +41.0% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Singapore (+3.4% per year) and Thailand (+2.2% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, remaining constant against the previous year. Over the period under review, the import price continues to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2018 when the import price increased by 12%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+0.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform