Australia: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Australia

The Australian industrial stearic acid market was estimated at $X in 2021, increasing by 14% against the previous year. The market value increased at an average annual rate of +1.5% 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 maximum level in 2021 and is expected to retain growth in years to come.

Industrial Stearic Acid Production in Australia

In value terms, industrial stearic acid production rose remarkably to $X in 2021 estimated in export price. In general, production, however, showed a mild shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 22% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Industrial Stearic Acid Exports

Exports from Australia

For the ninth consecutive year, Australia recorded decline in shipments abroad of industrial stearic acid, which decreased by -6% to X tons in 2021. Over the period under review, exports continue to indicate a precipitous descent. The smallest decline of -5.7% was in 2018. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, industrial stearic acid exports expanded sharply to $X in 2021. Overall, exports saw a deep slump. The pace of growth appeared the most rapid in 2015 when exports increased by 5.3%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

South Korea (X tons) was the main destination for industrial stearic acid exports from Australia, accounting for a 60% share of total exports. Moreover, industrial stearic acid exports to South Korea exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), fourfold. The third position in this ranking was taken by Spain (X tons), with a 9.4% share.

From 2012 to 2021, the average annual growth rate of volume to South Korea totaled -15.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (-28.7% per year) and Spain (-12.5% per year).

In value terms, South Korea ($X), Taiwan (Chinese) ($X) and Vietnam ($X) were the largest markets for industrial stearic acid exported from Australia worldwide, with a combined 89% share of total exports.

Among the main countries of destination, Vietnam, with a CAGR of +0.9%, 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 a decline.

Export Prices by Country

The average industrial stearic acid export price stood at $X per ton in 2021, with an increase of 12% against the previous year. In general, the export price showed a remarkable increase. 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 for the major foreign markets. In 2021, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+25.8%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Stearic Acid Imports

Imports into Australia

In 2021, purchases abroad of industrial stearic acid increased by 112% to X tons, rising for the second consecutive year after three years of decline. Overall, imports enjoyed a remarkable increase. The growth pace was the most rapid in 2020 with an increase of 4,548%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, industrial stearic acid imports skyrocketed to $X in 2021. Over the period under review, imports enjoyed a prominent increase. The growth pace was the most rapid in 2020 when imports increased by 3,520%. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest supplier of industrial stearic acid to Australia, accounting for a 32% share of total imports. Moreover, industrial stearic acid imports from Malaysia exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume from Malaysia totaled +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+9.9% per year) and Germany (+60.0% per year).

In value terms, Malaysia ($X) constituted the largest supplier of industrial stearic acid to Australia, comprising 36% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 14% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Malaysia totaled +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+16.0% per year) and Germany (+49.6% per year).

Import Prices by Country

In 2021, the average industrial stearic acid import price amounted to $X per ton, picking up by 51% against the previous year. Overall, import price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial stearic acid import price increased by +62.9% against 2016 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Malaysia ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+5.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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