Asia: Market for Industrial Monocarboxylic Fatty Acids 2024

Market Size for Industrial Monocarboxylic Fatty Acids in Asia

In 2021, the Asian industrial monocarboxylic fatty acids market increased by 0.1% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Production of Industrial Monocarboxylic Fatty Acids in Asia

In value terms, industrial monocarboxylic fatty acids production shrank to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 22% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Exports of Industrial Monocarboxylic Fatty Acids

Exports in Asia

Industrial monocarboxylic fatty acids exports soared to X tons in 2021, increasing by 21% on the previous year. Total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +8.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when exports increased by 26%. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, industrial monocarboxylic fatty acids exports soared to $X in 2021. Overall, exports continue to indicate a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Indonesia represented the major exporter of industrial monocarboxylic fatty acids in Asia, with the volume of exports resulting at X tons, which was approx. 60% of total exports in 2021. It was distantly followed by Malaysia (X tons), making up a 31% share of total exports. India (X tons) and Thailand (X tons) took a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by India (with a CAGR of +18.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest industrial monocarboxylic fatty acids supplying countries in Asia were Indonesia ($X), Malaysia ($X) and India ($X), with a combined 94% share of total exports.

In terms of the main exporting countries, India, with a CAGR of +15.4%, saw 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

The export price in Asia stood at $X per ton in 2021, increasing by 56% against the previous year. Export price indicated a mild increase from 2012 to 2021: its price 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. Based on 2021 figures, industrial monocarboxylic fatty acids export price increased by +83.9% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while Thailand ($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 Asia

After two years of decline, supplies from abroad of industrial monocarboxylic fatty acids increased by 17% to X tons in 2021. Total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +8.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 24%. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

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

Imports by Country

In 2021, China (X tons), distantly followed by India (X tons), Malaysia (X tons), South Korea (X tons) and Singapore (X tons) represented the major importers of industrial monocarboxylic fatty acids, together mixing up 88% of total imports. The following importers - Turkey (X tons) and Japan (X tons) - each accounted for a 4.1% share of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +15.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Malaysia ($X) and India ($X) constituted the countries with the highest levels of imports in 2021, together comprising 69% of total imports.

India, with a CAGR of +16.3%, recorded the highest growth rate of the value of imports, among 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 Asia amounted to $X per ton, rising by 54% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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