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

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

In 2021, the Asian market for palmitic acid, stearic acid, their salts and esters increased by 0.7% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, saw a noticeable downturn. The most prominent rate of growth was recorded in 2020 with an increase of 2.9%. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

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

In value terms, production of palmitic acid, stearic acid, their salts and esters fell slightly to $X in 2021 estimated in export price. In general, production, however, recorded a pronounced descent. The growth pace was the most rapid in 2017 with an increase of 2.1%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

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

Exports in Asia

In 2021, exports of palmitic acid, stearic acid, their salts and esters in Asia rose remarkably to X tons, increasing by 11% against 2020 figures. The total export volume increased at an average annual rate of +5.5% 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 2014 with an increase of 26% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, exports of palmitic acid, stearic acid, their salts and esters skyrocketed to $X in 2021. The total export value increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. 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) were the main exporters of palmitic acid, stearic acid, their salts and esters in 2021, reaching approx. 36% and 33% of total exports, respectively. 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. Turkey (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 leading exporting countries, was attained by Indonesia (with a CAGR of +10.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest palmitic acid, stearic acid, their salts and esters supplying countries in Asia were Malaysia ($X), Indonesia ($X) and India ($X), with a combined 76% share of total exports.

Among the main exporting countries, Indonesia, with a CAGR of +10.5%, 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

The export price in Asia stood at $X per ton in 2021, surging by 21% against the previous year. Over the period under review, the export price, however, showed a mild slump. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat 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 Turkey (+2.6%), while the other leaders experienced more modest paces of growth.

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

Imports in Asia

In 2021, overseas purchases of palmitic acid, stearic acid, their salts and esters increased by 0.9% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +2.7% 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 2014 when imports increased by 26%. Over the period under review, imports of reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, imports of palmitic acid, stearic acid, their salts and esters soared to $X in 2021. The total import value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Saudi Arabia (X tons) and Japan (X tons) represented roughly 39% of total imports in 2021. India (X tons) held the next position in the ranking, followed by Malaysia (X tons), South Korea (X tons), Indonesia (X tons) and Thailand (X tons). All these countries together took near 32% share of total imports. Taiwan (Chinese) (X tons), Vietnam (X tons), the United Arab Emirates (X tons), Pakistan (X tons) and Bangladesh (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Pakistan (with a CAGR of +27.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), China ($X) and Japan ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 38% of total imports. These countries were followed by India, South Korea, Indonesia, Thailand, Malaysia, Taiwan (Chinese), Vietnam, Pakistan, the United Arab Emirates and Bangladesh, which together accounted for a further 47%.

Among the main importing countries, Pakistan, with a CAGR of +27.4%, saw the highest rates of growth with regard to the value of imports, 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, surging by 29% against the previous year. Overall, the import price, however, showed 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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