Belgium: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Belgium

The Belgian industrial stearic acid market surged to $X in 2021, growing by 39% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Industrial Stearic Acid Production in Belgium

In value terms, industrial stearic acid production reduced to $X in 2021 estimated in export price. Over the period under review, production showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when the production volume increased by 26% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Industrial Stearic Acid Exports

Exports from Belgium

After two years of growth, shipments abroad of industrial stearic acid decreased by -3.2% to X tons in 2021. In general, exports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2020 with an increase of 219% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, industrial stearic acid exports skyrocketed to $X in 2021. Overall, exports saw a abrupt contraction. The pace of growth was the most pronounced in 2020 with an increase of 243% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X tons), Poland (X tons) and France (X tons) were the main destinations of industrial stearic acid exports from Belgium, with a combined 82% share of total exports. These countries were followed by the Netherlands, Switzerland, the UK, Sweden, Romania and Finland, which together accounted for a further 12%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Switzerland (with a CAGR of +15.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for industrial stearic acid exported from Belgium were Germany ($X), Poland ($X) and Switzerland ($X), together accounting for 72% of total exports.

In terms of the main countries of destination, Switzerland, with a CAGR of +31.8%, 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 average industrial stearic acid export price amounted to $X per ton, growing by 70% against the previous year. Overall, export price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +2.7% 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 export price increased by +83.3% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Finland ($X per ton), while the average price for exports to France ($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 Finland (+41.1%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Stearic Acid Imports

Imports into Belgium

For the third year in a row, Belgium recorded growth in supplies from abroad of industrial stearic acid, which increased by 25% to X tons in 2021. In general, imports, however, showed a mild descent. The growth pace was the most rapid in 2017 when imports increased by 40%. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, industrial stearic acid imports surged to $X in 2021. Over the period under review, imports, however, recorded a mild shrinkage. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

The Netherlands (X tons), Germany (X tons) and Malaysia (X tons) were the main suppliers of industrial stearic acid imports to Belgium, with a combined 92% share of total imports. Indonesia, Italy and India lagged somewhat behind, together comprising a further 6.6%.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +11.5%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest industrial stearic acid suppliers to Belgium were the Netherlands ($X), Germany ($X) and Malaysia ($X), together accounting for 90% of total imports. Indonesia, Italy and India lagged somewhat behind, together accounting for a further 8.2%.

Indonesia, with a CAGR of +14.1%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average industrial stearic acid import price stood at $X per ton in 2021, growing by 41% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were Italy ($X per ton) and Indonesia ($X per ton), while the price for India ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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