CIS: Market for Lauric Acid And Other Acids, Their Salts And Esters 2024

Market Size for Lauric Acid And Other Acids, Their Salts And Esters in CIS

For the third consecutive year, the CIS market for lauric acid and other acids, their salts and esters recorded growth in sales value, which increased by 4.7% to $X in 2021. The market value increased at an average annual rate of +3.8% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2021 and is likely to continue growth in the near future.

Production of Lauric Acid And Other Acids, Their Salts And Esters in CIS

In value terms, production of lauric acid and other acids, their salts and esters fell slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.6% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 31% against the previous year. Over the period under review, production of attained the maximum level at $X in 2020, and then dropped slightly in the following year.

Exports of Lauric Acid And Other Acids, Their Salts And Esters

Exports in CIS

Exports of lauric acid and other acids, their salts and esters skyrocketed to X tons in 2021, increasing by 31% compared with 2020. In general, exports showed noticeable growth. The most prominent rate of growth was recorded in 2013 when exports increased by 100%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of lauric acid and other acids, their salts and esters soared to $X in 2021. Over the period under review, exports posted a prominent increase. The most prominent rate of growth was recorded in 2013 when exports increased by 143% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

In 2021, Russia (X tons) represented the main exporter of lauric acid and other acids, their salts and esters, constituting 84% of total exports. It was distantly followed by Belarus (X tons), committing a 16% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to lauric acid and other acids, their salts and esters exports from Russia stood at +2.7%. At the same time, Belarus (+46.7%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +46.7% from 2012-2021. From 2012 to 2021, the share of Belarus increased by +15 percentage points.

In value terms, Russia ($X) remains the largest lauric acid and other acids, their salts and esters supplier in the CIS, comprising 91% of total exports. The second position in the ranking was held by Belarus ($X), with an 8.6% share of total exports.

In Russia, exports of lauric acid and other acids, their salts and esters expanded at an average annual rate of +5.8% over the period from 2012-2021.

Export Prices by Country

The export price in the CIS stood at $X per ton in 2021, waning by -4.6% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2020 when the export price increased by 32% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Russia ($X per ton), while Belarus stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+7.4%).

Imports of Lauric Acid And Other Acids, Their Salts And Esters

Imports in CIS

In 2021, overseas purchases of lauric acid and other acids, their salts and esters increased by 12% to X tons, rising for the third consecutive year after two years of decline. Total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +9.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +25.2% against 2018 indices. The pace of growth was the most pronounced in 2016 when imports increased by 40% against the previous year. The volume of import peaked in 2021 and is likely to see steady growth in the near future.

In value terms, imports of lauric acid and other acids, their salts and esters skyrocketed to $X in 2021. Total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.5% over the last nine-year period. 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

Russia dominates esters structure, resulting at X tons, which was near 92% of total imports in 2021. The following importers - Belarus (X tons) and Uzbekistan (X tons) - together made up 5.9% of total imports.

Imports into Russia increased at an average annual rate of +9.5% from 2012 to 2021. At the same time, Uzbekistan (+35.3%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +35.3% from 2012-2021. Belarus experienced a relatively flat trend pattern. While the share of Russia (+1.9 p.p.) and Uzbekistan (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Belarus (-5.2 p.p.) displayed negative dynamics.

In value terms, Russia ($X) constitutes the largest market for imported lauric acid and other acids, their salts and esters in the CIS, comprising 90% of total imports. The second position in the ranking was held by Belarus ($X), with a 5.3% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Russia totaled +8.7%. The remaining importing countries recorded the following average annual rates of imports growth: Belarus (+1.2% per year) and Uzbekistan (+45.5% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2021, picking up by 24% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, the country with the highest price was Belarus ($X per ton), while Russia ($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 (+7.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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