Azerbaijan: Market for Palmitic Acid, Stearic Acid, Their Salts And Esters 2025

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

The Azerbaijani market for palmitic acid, stearic acid, their salts and esters shrank notably to $X in 2021, with a decrease of -34.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a abrupt curtailment. Consumption of peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

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

Exports from Azerbaijan

In 2021, the amount of palmitic acid, stearic acid, their salts and esters exported from Azerbaijan was estimated at X tons, approximately mirroring 2020 figures. Over the period under review, exports enjoyed significant growth. The smallest decline of 99.9% was in 2016. The exports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, exports of palmitic acid, stearic acid, their salts and esters stood at $X in 2021. In general, exports enjoyed prominent growth. The smallest decline of 99.9% was in 2016. Over the period under review, the exports of hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

Turkey (X tons) was the main destination for exports of palmitic acid, stearic acid, their salts and esters from Azerbaijan, accounting for a approx. 100% share of total exports.

From 2015 to 2021, the average annual rate of growth in terms of volume to Turkey was relatively modest.

From 2015 to 2021, the average annual growth rate of value to Turkey was relatively modest.

Export Prices by Country

The average export price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2021, leveling off at the previous year. In general, the export price saw a deep contraction. The pace of growth was the most pronounced in 2016 when the average export price decreased by 99.9%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2015 to 2021, the rate of growth in terms of prices for Turkey amounted to 0.0% per year.

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

Imports into Azerbaijan

In 2021, approx. X tons of palmitic acid, stearic acid, their salts and esters were imported into Azerbaijan; waning by -24.8% on 2020. In general, imports showed a deep slump. The most prominent rate of growth was recorded in 2015 with an increase of 221%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, imports of palmitic acid, stearic acid, their salts and esters fell notably to $X in 2021. Overall, imports saw a pronounced descent. The growth pace was the most rapid in 2015 with an increase of 275% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest palmitic acid, stearic acid, their salts and esters supplier to Azerbaijan, with a 43% share of total imports. Moreover, imports of palmitic acid, stearic acid, their salts and esters from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was taken by Turkey (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates stood at +51.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+24.7% per year) and Turkey (+16.1% per year).

In value terms, the United Arab Emirates ($X), Germany ($X) and Turkey ($X) appeared to be the largest palmitic acid, stearic acid, their salts and esters suppliers to Azerbaijan, together accounting for 68% of total imports.

Among the main suppliers, the United Arab Emirates, with a CAGR of +44.7%, recorded 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 average import price for palmitic acid, stearic acid, their salts and esters amounted to $X per ton, declining by -8.2% against the previous year. Over the period under review, import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +5.2% over the last nine-year period. 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 +20.8% against 2019 indices. The pace of growth was the most pronounced in 2020 when the average import price increased by 32%. As a result, import price reached the peak level of $X per ton, and then dropped in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+17.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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