China: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in China

The Chinese industrial stearic acid market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption, however, saw a noticeable setback. Industrial stearic acid consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Industrial Stearic Acid Production in China

In value terms, industrial stearic acid production expanded to $X in 2021 estimated in export price. Overall, production, however, showed a deep downturn. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Industrial Stearic Acid Exports

Exports from China

For the seventh consecutive year, China recorded growth in overseas shipments of industrial stearic acid, which increased by 4.1% to X tons in 2021. Over the period under review, exports posted a prominent increase. The pace of growth appeared the most rapid in 2017 when exports increased by 43% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

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

Exports by Country

South Korea (X tons), Thailand (X tons) and Vietnam (X tons) were the main destinations of industrial stearic acid exports from China, with a combined 47% share of total exports. These countries were followed by Russia, Japan, Mexico, Pakistan, Peru, Nigeria, Kenya, Uzbekistan, Iran and India, which together accounted for a further 40%.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +116.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for industrial stearic acid exported from China were Vietnam ($X), South Korea ($X) and Thailand ($X), with a combined 46% share of total exports. These countries were followed by Russia, Japan, Mexico, Pakistan, Nigeria, Peru, Kenya, Uzbekistan, Iran and India, which together accounted for a further 39%.

Peru, with a CAGR of +101.3%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average industrial stearic acid export price stood at $X per ton in 2021, surging by 48% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was India ($X per ton), while the average price for exports to Peru ($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 Kenya (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Stearic Acid Imports

Imports into China

In 2021, the amount of industrial stearic acid imported into China expanded significantly to X tons, picking up by 6.7% on the previous year's figure. Over the period under review, total imports indicated a tangible expansion from 2012 to 2021: its volume increased at an average annual rate of +3.7% 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 decreased by -0.8% against 2018 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 41% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, industrial stearic acid imports skyrocketed to $X in 2021. In general, total imports indicated tangible growth 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. Based on 2021 figures, imports increased by +45.2% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest supplier of industrial stearic acid to China, with a 87% share of total imports. Moreover, industrial stearic acid imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), sevenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Indonesia totaled +5.3%.

In value terms, Indonesia ($X) constituted the largest supplier of industrial stearic acid to China, comprising 86% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 13% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Indonesia stood at +6.2%.

Import Prices by Country

In 2021, the average industrial stearic acid import price amounted to $X per ton, surging by 45% against the previous year. Overall, the import price recorded a relatively flat trend pattern. 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 amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+0.8%).

Source: IndexBox Platform

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