Central Asia: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Central Asia

The Central Asian industrial stearic acid market contracted modestly to $X in 2021, dropping by -3% against the previous year. In general, consumption faced a deep reduction. The most prominent rate of growth was recorded in 2020 when the market value increased by 4.3% against the previous year. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Industrial Stearic Acid Production in Central Asia

In value terms, industrial stearic acid production reduced modestly to $X in 2021 estimated in export price. In general, production continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2020 with an increase of 4.1%. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Industrial Stearic Acid Exports

Exports in Central Asia

In 2021, approx. X tons of industrial stearic acid were exported in Central Asia; jumping by 65% against the previous year. Over the period under review, exports saw a remarkable increase. The pace of growth appeared the most rapid in 2017 when exports increased by 349%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, industrial stearic acid exports skyrocketed to $X in 2021. Overall, exports posted a measured increase. The pace of growth appeared the most rapid in 2017 when exports increased by 661% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Kazakhstan (X tons) represented roughly 100% of total exports in 2021.

Kazakhstan was also the fastest-growing in terms of the industrial stearic acid exports, with a CAGR of +10.5% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) also remains the largest industrial stearic acid supplier in Central Asia.

In Kazakhstan, industrial stearic acid exports expanded at an average annual rate of +3.7% over the period from 2012-2021.

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2021, reducing by -5.5% against the previous year. Over the period under review, the export price saw a abrupt slump. The pace of growth was the most pronounced in 2017 an increase of 69%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Kazakhstan amounted to -6.1% per year.

Industrial Stearic Acid Imports

Imports in Central Asia

In 2021, after nine years of growth, there was significant decline in supplies from abroad of industrial stearic acid, when their volume decreased by -17.9% to X tons. In general, imports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2017 with an increase of 229%. Over the period under review, imports hit record highs at X tons in 2020, and then declined significantly in the following year.

In value terms, industrial stearic acid imports soared to $X in 2021. Over the period under review, imports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2017 when imports increased by 224%. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, Uzbekistan (X tons) represented the largest importer of industrial stearic acid, mixing up 76% of total imports. It was distantly followed by Kazakhstan (X tons), mixing up a 20% share of total imports. Turkmenistan (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to industrial stearic acid imports into Uzbekistan stood at +13.6%. At the same time, Turkmenistan (+30.8%) and Kazakhstan (+18.5%) displayed positive paces of growth. Moreover, Turkmenistan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +30.8% from 2012-2021. Uzbekistan (+76 p.p.) significantly strengthened its position in terms of the total imports, while Turkmenistan and Kazakhstan saw its share reduced by -3% and -68.9% from 2012 to 2021, respectively.

In value terms, Uzbekistan ($X) constitutes the largest market for imported industrial stearic acid in Central Asia, comprising 73% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with a 22% share of total imports.

In Uzbekistan, industrial stearic acid imports increased at an average annual rate of +21.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (+15.7% per year) and Turkmenistan (+30.7% per year).

Import Prices by Country

In 2021, the import price in Central Asia amounted to $X per ton, picking up by 46% against the previous year. Overall, the import price, however, recorded a pronounced decline. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was Turkmenistan ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+6.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :