Asia: 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 Asia

In 2021, after two years of decline, there was significant growth in the Asian market for lauric acid and other acids, their salts and esters, when its value increased by 13% to $X. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level in 2021 and is likely to see steady growth in the near future.

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

In value terms, production of lauric acid and other acids, their salts and esters reduced modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 18% against the previous year. The level of production peaked at $X in 2020, and then contracted in the following year.

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

Exports in Asia

In 2021, shipments abroad of lauric acid and other acids, their salts and esters increased by 9% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports saw a strong increase. The most prominent rate of growth was recorded in 2020 with an increase of 33% against the previous year. Over the period under review, the exports of attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, exports of lauric acid and other acids, their salts and esters skyrocketed to $X in 2021. Total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +9.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +46.6% against 2019 indices. 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 lauric acid and other acids, their salts and esters in Asia, with the volume of exports recording X tons, which was near 47% of total exports in 2021. Malaysia (X tons) ranks second in terms of the total exports with a 30% share, followed by China (9%) and Japan (7.5%). India (X tons) took a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +21.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Malaysia ($X) and China ($X) were the countries with the highest levels of exports in 2021, with a combined 72% share of total exports.

Indonesia, with a CAGR of +20.2%, recorded the highest growth rate of the value of exports, among the main exporting countries 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, rising by 33% against the previous year. Over the period under review, the export price, however, saw a mild descent. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+4.6%), 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 Asia

Imports of lauric acid and other acids, their salts and esters skyrocketed to X tons in 2021, jumping by 26% on the year before. Total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +8.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +115.7% against 2012 indices. 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. Total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China was the key importing country with an import of about X tons, which amounted to 34% of total imports. It was distantly followed by India (X tons), Japan (X tons), the Philippines (X tons) and South Korea (X tons), together committing a 44% share of total imports. Malaysia (X tons), Taiwan (Chinese) (X tons), Thailand (X tons), Singapore (X tons), Indonesia (X tons) and Turkey (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to lauric acid and other acids, their salts and esters imports into China stood at +8.9%. At the same time, the Philippines (+46.7%), Malaysia (+19.6%), India (+11.5%), Turkey (+9.5%), Taiwan (Chinese) (+6.5%), Japan (+5.7%), South Korea (+3.8%), Thailand (+3.5%) and Singapore (+3.0%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia, with a CAGR of +46.7% from 2012-2021. By contrast, Indonesia (-2.5%) illustrated a downward trend over the same period. The Philippines (+8.4 p.p.), India (+3.1 p.p.) and Malaysia (+2.2 p.p.) significantly strengthened its position in terms of the total imports, while Thailand, Indonesia, Japan and South Korea saw its share reduced by -1.7%, -2.9%, -3.5% and -3.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), India ($X) and Japan ($X) were the countries with the highest levels of imports in 2021, together comprising 61% of total imports. These countries were followed by South Korea, the Philippines, Taiwan (Chinese), Singapore, Thailand, Turkey, Malaysia and Indonesia, which together accounted for a further 30%.

The Philippines, with a CAGR of +41.0%, saw 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

The import price in Asia stood at $X per ton in 2021, rising by 20% against the previous year. Over the period under review, the import price, however, showed a slight decline. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 China (+0.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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