Chile: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Chile

In 2021, the Chilean industrial stearic acid market was finally on the rise to reach $X after two years of decline. In general, the total consumption indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Industrial Stearic Acid Exports

Exports from Chile

In 2021, overseas shipments of industrial stearic acid decreased by -17.6% to X kg, falling for the second consecutive year after two years of growth. Over the period under review, exports recorded a deep reduction. The growth pace was the most rapid in 2016 when exports increased by 524% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, industrial stearic acid exports expanded sharply to $X in 2021. In general, exports showed a abrupt downturn. The most prominent rate of growth was recorded in 2016 with an increase of 471% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Peru (X kg) was the main destination for industrial stearic acid exports from Chile, with a 72% share of total exports. Moreover, industrial stearic acid exports to Peru exceeded the volume sent to the second major destination, Paraguay (X kg), fourfold. The third position in this ranking was taken by Argentina (X kg), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Peru totaled +21.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (-21.9% per year) and Argentina (-14.4% per year).

In value terms, Paraguay ($X) remains the key foreign market for industrial stearic acid exports from Chile, comprising 65% of total exports. The second position in the ranking was held by Peru ($X), with a 24% share of total exports. It was followed by Argentina, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Paraguay amounted to -10.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+12.8% per year) and Argentina (-15.0% per year).

Export Prices by Country

The average industrial stearic acid export price stood at $X per ton in 2021, picking up by 32% against the previous year. Over the period under review, the export price saw a slight expansion. The most prominent rate of growth was recorded in 2020 when the average export price increased by 72%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Paraguay ($X per ton), while the average price for exports to Peru ($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 Bolivia (+22.7%), while the prices for the other major destinations experienced mixed trend patterns.

Industrial Stearic Acid Imports

Imports into Chile

In 2021, approx. X tons of industrial stearic acid were imported into Chile; increasing by 16% against 2020. The total import volume increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 62% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, industrial stearic acid imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Argentina (X tons) constituted the largest industrial stearic acid supplier to Chile, with a 51% share of total imports. Moreover, industrial stearic acid imports from Argentina exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), twofold. Brazil (X tons) ranked third in terms of total imports with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Argentina amounted to +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+31.6% per year) and Brazil (+11.6% per year).

In value terms, Argentina ($X) constituted the largest supplier of industrial stearic acid to Chile, comprising 48% of total imports. The second position in the ranking was held by Brazil ($X), with a 23% share of total imports. It was followed by Malaysia, with a 21% share.

From 2012 to 2021, the average annual growth rate of value from Argentina stood at +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+13.2% per year) and Malaysia (+31.9% per year).

Import Prices by Country

The average industrial stearic acid import price stood at $X per ton in 2021, rising by 44% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Peru ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+20.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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