Canada: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Canada

In 2021, after three years of decline, there was significant growth in the Canadian industrial stearic acid market, when its value increased by 61% to $X. Overall, the total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.5% 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 reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Industrial Stearic Acid Exports

Exports from Canada

Industrial stearic acid exports from Canada skyrocketed to X tons in 2021, rising by 56% on the previous year's figure. In general, exports, however, showed a sharp decrease. The pace of growth was the most pronounced in 2018 with an increase of 64% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, industrial stearic acid exports soared to $X in 2021. Overall, exports, however, showed a sharp reduction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for industrial stearic acid exports from Canada, with a 89% share of total exports. Moreover, industrial stearic acid exports to the United States exceeded the volume sent to the second major destination, China (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at -23.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+46.5% per year) and Hong Kong SAR (-12.3% per year).

In value terms, the United States ($X) remains the key foreign market for industrial stearic acid exports from Canada, comprising 95% of total exports. The second position in the ranking was taken by China ($X), with a 2.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States totaled -20.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+43.5% per year) and Hong Kong SAR (-15.1% per year).

Export Prices by Country

In 2021, the average industrial stearic acid export price amounted to $X per ton, increasing by 43% against the previous year. Overall, export price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +3.0% 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 +111.2% against 2016 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 the United States ($X per ton), while the average price for exports to Hong Kong SAR ($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 the United States (+3.7%), while the prices for the other major destinations experienced a decline.

Industrial Stearic Acid Imports

Imports into Canada

In 2021, purchases abroad of industrial stearic acid was finally on the rise to reach X tons after three years of decline. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 39% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, industrial stearic acid imports soared to $X in 2021. Over the period under review, total imports indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) was the main supplier of industrial stearic acid to Canada, accounting for a 92% share of total imports. Moreover, industrial stearic acid imports from the United States exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), more than tenfold. The third position in this ranking was taken by Indonesia (X tons), with a 2.4% share.

From 2012 to 2021, the average annual growth rate of volume from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+11.2% per year) and Indonesia (+6.9% per year).

In value terms, the United States ($X) constituted the largest supplier of industrial stearic acid to Canada, comprising 90% of total imports. The second position in the ranking was held by Malaysia ($X), with a 4% share of total imports. It was followed by Germany, with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+11.2% per year) and Germany (+3.1% per year).

Import Prices by Country

The average industrial stearic acid import price stood at $X per ton in 2021, rising by 62% against the previous year. In general, import price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.9% 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 +66.9% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, the highest price was recorded for prices from Germany ($X per ton) and Malaysia ($X per ton), while the price for Indonesia ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+1.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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