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

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

In 2021, after two years of decline, there was significant growth in the Australian market for palmitic acid, stearic acid, their salts and esters, when its value increased by 28% to $X. Overall, the total consumption indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

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

Exports from Australia

In 2021, overseas shipments of palmitic acid, stearic acid, their salts and esters increased by 56% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, continue to indicate a abrupt contraction. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, exports of palmitic acid, stearic acid, their salts and esters surged to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt descent. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

New Zealand (X tons) was the main destination for exports of palmitic acid, stearic acid, their salts and esters from Australia, accounting for a 71% share of total exports. Moreover, exports of palmitic acid, stearic acid, their salts and esters to New Zealand exceeded the volume sent to the second major destination, South Africa (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume to New Zealand stood at +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (-10.8% per year) and Kuwait (0.0% per year).

In value terms, New Zealand ($X) remains the key foreign market for palmitic acid, stearic acid, their salts and esters exports from Australia, comprising 67% of total exports. The second position in the ranking was held by South Africa ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual growth rate of value to New Zealand was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (-14.8% per year) and Kuwait (0.0% per year).

Export Prices by Country

The average export price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2021, rising by 38% against the previous year. In general, the export price, however, showed a pronounced shrinkage. The pace of growth appeared the most rapid in 2015 when the average export price increased by 43% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to New Zealand ($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 Taiwan (Chinese) (+3.6%), while the prices for the other major destinations experienced a decline.

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

Imports into Australia

After two years of decline, overseas purchases of palmitic acid, stearic acid, their salts and esters increased by 3.9% to X tons in 2021. The total import volume increased at an average annual rate of +1.3% over the period 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 2013 when imports increased by 17% against the previous year. Over the period under review, imports of reached the maximum at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, imports of palmitic acid, stearic acid, their salts and esters soared to $X in 2021. In general, total imports indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. 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

In 2021, Malaysia (X tons) constituted the largest supplier of palmitic acid, stearic acid, their salts and esters to Australia, with a 50% share of total imports. Moreover, imports of palmitic acid, stearic acid, their salts and esters from Malaysia exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), twofold. Singapore (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia stood at +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+5.6% per year) and Singapore (-9.2% per year).

In value terms, Malaysia ($X) constituted the largest supplier of palmitic acid, stearic acid, their salts and esters to Australia, comprising 46% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 21% share of total imports. It was followed by Singapore, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Malaysia stood at +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+7.7% per year) and Singapore (-10.4% per year).

Import Prices by Country

In 2021, the average import price for palmitic acid, stearic acid, their salts and esters amounted to $X per ton, with an increase of 32% against the previous year. Overall, import price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for palmitic acid, stearic acid, their salts and esters increased by +31.8% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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