Asia-Pacific: 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-Pacific

In 2021, the Asia-Pacific market for lauric acid and other acids, their salts and esters increased by 15% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in years to come.

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

In value terms, production of lauric acid and other acids, their salts and esters fell slightly 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 pace of growth appeared the most rapid in 2016 with an increase of 20%. Over the period under review, production of reached the peak level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

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

Exports in Asia-Pacific

In 2021, overseas shipments of lauric acid and other acids, their salts and esters increased by 8.8% to X tons, rising for the second consecutive year after two years of decline. In general, exports posted a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of 33% against the previous year. The volume of export peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, exports of lauric acid and other acids, their salts and esters surged to $X in 2021. Total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +9.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +46.1% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Indonesia represented the largest exporter of lauric acid and other acids, their salts and esters in Asia-Pacific, with the volume of exports resulting at X tons, which was near 48% of total exports in 2021. Malaysia (X tons) took the second position in the ranking, distantly followed by China (X tons) and Japan (X tons). All these countries together held approx. 47% share of total exports. India (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key 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 Asia-Pacific were Indonesia ($X), Malaysia ($X) and China ($X), together accounting for 74% 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

In 2021, the export price in Asia-Pacific amounted to $X per ton, with an increase of 33% against the previous year. Overall, the export price, however, saw a mild reduction. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: 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-Pacific

In 2021, imports of lauric acid and other acids, their salts and esters in Asia-Pacific skyrocketed to X tons, surging by 27% compared with the year before. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +9.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +119.0% 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 soared to $X in 2021. Total imports indicated a prominent expansion 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 attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) represented the key importer of lauric acid and other acids, their salts and esters, comprising 35% of total imports. India (X tons) took a 17% share (based on physical terms) of total imports, which put it in second place, followed by Japan (12%), the Philippines (9.4%) and South Korea (6.8%). The following importers - Malaysia (X tons) and Taiwan (Chinese) (X tons) - each resulted at a 7.6% share of total imports.

Imports into China increased at an average annual rate of +8.9% from 2012 to 2021. At the same time, the Philippines (+46.7%), Malaysia (+19.6%), India (+11.5%), Taiwan (Chinese) (+6.5%), Japan (+5.7%) and South Korea (+3.8%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +46.7% from 2012-2021. From 2012 to 2021, the share of the Philippines, India and Malaysia increased by +8.7, +3 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), India ($X) and Japan ($X) constituted the countries with the highest levels of imports in 2021, together comprising 65% of total imports. South Korea, the Philippines, Taiwan (Chinese) and Malaysia lagged somewhat behind, together accounting for a further 21%.

The Philippines, with a CAGR of +41.0%, recorded the highest growth rate of the value of imports, in terms of 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-Pacific stood at $X per ton in 2021, jumping by 21% against the previous year. Over the period under review, the import price, however, showed a mild slump. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Taiwan (Chinese) ($X per ton), while Malaysia ($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 a decline in the import price figures.

Source: IndexBox Platform

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