Asia-Pacific: Market for Palmitic Acid, Stearic Acid, Their Salts And Esters 2024

Market Size for Palmitic Acid, Stearic Acid, Their Salts And Esters in Asia-Pacific

In 2021, the Asia-Pacific market for palmitic acid, stearic acid, their salts and esters increased by 0.6% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, saw a perceptible slump. The pace of growth was the most pronounced in 2020 when the market value increased by 3.7%. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Palmitic Acid, Stearic Acid, Their Salts And Esters in Asia-Pacific

In value terms, production of palmitic acid, stearic acid, their salts and esters fell to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2017 when the production volume increased by 3.4% against the previous year. Over the period under review, production of hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Exports in Asia-Pacific

Exports of palmitic acid, stearic acid, their salts and esters rose sharply to X tons in 2021, with an increase of 11% on the previous year. The total export volume increased at an average annual rate of +5.3% 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 2014 with an increase of 27%. The volume of export peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, exports of palmitic acid, stearic acid, their salts and esters soared to $X in 2021. The total export value increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Indonesia (X tons) and Malaysia (X tons) represented roughly 71% of total exports in 2021. India (X tons) took the next position in the ranking, followed by Singapore (X tons). All these countries together held near 23% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +10.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Indonesia ($X) and India ($X) were the countries with the highest levels of exports in 2021, with a combined 79% share of total exports.

In terms of the main exporting countries, Indonesia, with a CAGR of +10.5%, recorded 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 Asia-Pacific amounted to $X per ton, growing by 21% against the previous year. Overall, the export price, however, saw a mild shrinkage. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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 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 (+0.5%), while the other leaders experienced more modest paces of growth.

Imports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Imports in Asia-Pacific

In 2021, the amount of palmitic acid, stearic acid, their salts and esters imported in Asia-Pacific amounted to X tons, picking up by 3.6% on the previous year's figure. The total import volume increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 23%. The volume of import peaked in 2021 and is likely to see steady growth in years to come.

In value terms, imports of palmitic acid, stearic acid, their salts and esters surged to $X in 2021. The total import value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern 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 (X tons) and Japan (X tons) represented the main importers of palmitic acid, stearic acid, their salts and esters in 2021, accounting for approx. 18% and 16% of total imports, respectively. India (X tons) ranks next in terms of the total imports with a 10% share, followed by Malaysia (9.8%), South Korea (7.6%), Indonesia (6.5%), Thailand (6.3%), Taiwan (Chinese) (5.3%) and Vietnam (5%). Pakistan (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Pakistan (with a CAGR of +27.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest palmitic acid, stearic acid, their salts and esters importing markets in Asia-Pacific were China ($X), Japan ($X) and India ($X), together accounting for 46% of total imports. South Korea, Indonesia, Thailand, Malaysia, Taiwan (Chinese), Vietnam and Pakistan lagged somewhat behind, together accounting for a further 42%.

Pakistan, with a CAGR of +27.4%, saw 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

In 2021, the import price in Asia-Pacific amounted to $X per ton, picking up by 31% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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