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

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

The Belgian market for palmitic acid, stearic acid, their salts and esters reduced to $X in 2021, leveling off at the previous year. In general, consumption saw a deep contraction. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

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

In value terms, production of palmitic acid, stearic acid, their salts and esters soared to $X in 2021 estimated in export price. Over the period under review, production, however, showed a deep reduction. The pace of growth was the most pronounced in 2017 when the production volume increased by 43%. As a result, production attained the peak level of $X. From 2018 to 2021, production of growth remained at a lower figure.

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

Exports from Belgium

In 2021, shipments abroad of palmitic acid, stearic acid, their salts and esters increased by 32% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +2.6% 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 2017 when exports increased by 34%. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, exports of palmitic acid, stearic acid, their salts and esters skyrocketed to $X in 2021. Overall, exports showed a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons), France (X tons) and the Netherlands (X tons) were the main destinations of exports of palmitic acid, stearic acid, their salts and esters from Belgium, with a combined 70% share of total exports. Poland, Italy, the UK, the Czech Republic, Austria, the United States, Luxembourg, Russia, Spain and Malaysia lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2021, the biggest increases were recorded for Luxembourg (with a CAGR of +67.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for palmitic acid, stearic acid, their salts and esters exported from Belgium were Germany ($X), France ($X) and the Netherlands ($X), with a combined 63% share of total exports. Italy, the United States, Poland, the Czech Republic, Spain, the UK, Luxembourg, Austria, Russia and Malaysia lagged somewhat behind, together accounting for a further 24%.

Among the main countries of destination, Luxembourg, with a CAGR of +61.6%, recorded the highest rates of growth with regard to 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 average export price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2021, rising by 12% against the previous year. In general, export price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for palmitic acid, stearic acid, their salts and esters increased by +73.1% against 2016 indices. The pace of growth was the most pronounced in 2020 an increase of 35% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Austria ($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 Malaysia (+43.6%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Belgium

In 2021, overseas purchases of palmitic acid, stearic acid, their salts and esters increased by 20% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 39%. Over the period under review, imports of reached the maximum at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, imports of palmitic acid, stearic acid, their salts and esters skyrocketed to $X in 2021. Over the period under review, imports enjoyed a tangible increase. The pace of growth was the most pronounced in 2020 when imports increased by 51%. Over the period under review, imports of attained the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

Germany (X tons), the Netherlands (X tons) and Malaysia (X tons) were the main suppliers of imports of palmitic acid, stearic acid, their salts and esters to Belgium, together comprising 61% of total imports. These countries were followed by the UK, Italy, Spain, Poland, Mexico and France, which together accounted for a further 31%.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +532.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Malaysia ($X) and the Netherlands ($X) constituted the largest palmitic acid, stearic acid, their salts and esters suppliers to Belgium, with a combined 45% share of total imports. These countries were followed by the UK, Poland, Italy, Spain, France and Mexico, which together accounted for a further 33%.

Mexico, with a CAGR of +566.2%, saw 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 import price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2021, surging by 11% against the previous year. Over the last nine years, it increased at an average annual rate of +2.5%. The pace of growth appeared the most rapid in 2020 an increase of 19%. Over the period under review, average import prices attained the maximum in 2021 and is likely to continue growth in the near future.

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 France ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+16.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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