Brazil: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Brazil

In 2021, after two years of decline, there was significant growth in the Brazilian industrial stearic acid market, when its value increased by 5.8% to $X. In general, consumption, however, recorded a deep slump. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Industrial Stearic Acid Production in Brazil

In value terms, industrial stearic acid production totaled $X in 2021 estimated in export price. Overall, production, however, saw a abrupt shrinkage. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Industrial Stearic Acid Exports

Exports from Brazil

In 2021, overseas shipments of industrial stearic acid increased by 323% to X tons, rising for the second consecutive year after three years of decline. In general, exports enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, industrial stearic acid exports soared to $X in 2021. Overall, exports showed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Argentina (X tons) was the main destination for industrial stearic acid exports from Brazil, with a 61% share of total exports. Moreover, industrial stearic acid exports to Argentina exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was taken by Mexico (X tons), with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume to Argentina totaled +31.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+126.5% per year) and Mexico (+62.2% per year).

In value terms, Argentina ($X) remains the key foreign market for industrial stearic acid exports from Brazil, comprising 60% of total exports. The second position in the ranking was taken by the United States ($X), with a 20% share of total exports. It was followed by Mexico, with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Argentina stood at +33.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+124.2% per year) and Mexico (+78.8% per year).

Export Prices by Country

In 2021, the average industrial stearic acid export price amounted to $X per ton, surging by 51% against the previous year. Overall, export price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.2% 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 +84.9% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2021, the highest price was recorded for prices to the United States ($X per ton) and Chile ($X per ton), while the average price for exports to Mexico ($X per ton) and Argentina ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Stearic Acid Imports

Imports into Brazil

For the fourth year in a row, Brazil recorded growth in supplies from abroad of industrial stearic acid, which increased by 18% to X tons in 2021. Overall, total imports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +67.8% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, industrial stearic acid imports surged to $X in 2021. Over the period under review, imports recorded temperate growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Argentina (X tons), Malaysia (X tons) and Indonesia (X tons) were the main suppliers of industrial stearic acid imports to Brazil, together comprising 98% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +20.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), Malaysia ($X) and Indonesia ($X) were the largest industrial stearic acid suppliers to Brazil, with a combined 96% share of total imports.

In terms of the main suppliers, Indonesia, with a CAGR of +22.2%, saw 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 industrial stearic acid import price amounted to $X per ton, with an increase of 65% against the previous year. Over the period under review, import price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.3% 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 +91.6% against 2019 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 ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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