CIS: Market for Palmitic Acid, Stearic Acid, Their Salts And Esters 2024

Market Size for Palmitic Acid, Stearic Acid, Their Salts And Esters in CIS

The CIS market for palmitic acid, stearic acid, their salts and esters was finally on the rise to reach $X in 2021, after four years of decline. In general, consumption, however, saw a slight setback. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Production of Palmitic Acid, Stearic Acid, Their Salts And Esters in CIS

In value terms, production of palmitic acid, stearic acid, their salts and esters rose slightly to $X in 2021 estimated in export price. Overall, production, however, showed a noticeable descent. The most prominent rate of growth was recorded in 2014 when the production volume increased by 25%. The level of production peaked at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Exports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Exports in CIS

In 2021, shipments abroad of palmitic acid, stearic acid, their salts and esters decreased by -9.6% to X tons for the first time since 2015, thus ending a five-year rising trend. Over the period under review, exports, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2016 with an increase of 77%. The volume of export peaked at X tons in 2020, and then reduced in the following year.

In value terms, exports of palmitic acid, stearic acid, their salts and esters skyrocketed to $X in 2021. In general, exports, however, posted a resilient increase. The growth pace was the most rapid in 2020 with an increase of 72%. The level of export peaked in 2021 and is likely to see gradual growth in the immediate term.

Exports by Country

Russia prevails in esters structure, recording X tons, which was near 89% of total exports in 2021. It was distantly followed by Belarus (X tons), creating a 7.7% share of total exports. Azerbaijan (X tons) held a minor share of total exports.

Exports from Russia increased at an average annual rate of +7.8% from 2012 to 2021. At the same time, Belarus (+50.1%) and Azerbaijan (+22.2%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +50.1% from 2012-2021. From 2012 to 2021, the share of Belarus and Azerbaijan increased by +7.3 and +2.9 percentage points, respectively.

In value terms, Russia ($X) remains the largest palmitic acid, stearic acid, their salts and esters supplier in the CIS, comprising 88% of total exports. The second position in the ranking was taken by Belarus ($X), with a 9.5% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Russia amounted to +3.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Belarus (+49.0% per year) and Azerbaijan (+10.0% per year).

Export Prices by Country

In 2021, the export price in the CIS amounted to $X per ton, with an increase of 29% against the previous year. Overall, the export price, however, continues to indicate a perceptible contraction. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 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, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while Azerbaijan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (-0.8%), while the other leaders experienced a decline in the export price figures.

Imports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Imports in CIS

In 2021, approx. X tons of palmitic acid, stearic acid, their salts and esters were imported in the CIS; surging by 14% against the previous year's figure. The total import volume increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of palmitic acid, stearic acid, their salts and esters surged to $X in 2021. The total import value increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached 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 81% of total imports in 2021. Uzbekistan (X tons) took the second position in the ranking, followed by Kyrgyzstan (X tons). All these countries together held approx. 11% share of total imports. Belarus (X tons) and Azerbaijan (X tons) took a relatively small share of total imports.

Imports into Russia increased at an average annual rate of +1.0% from 2012 to 2021. At the same time, Uzbekistan (+21.9%) and Kyrgyzstan (+8.6%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +21.9% from 2012-2021. Belarus experienced a relatively flat trend pattern. By contrast, Azerbaijan (-9.0%) illustrated a downward trend over the same period. While the share of Uzbekistan (+6.5 p.p.) and Kyrgyzstan (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Azerbaijan (-3.4 p.p.) and Russia (-4.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported palmitic acid, stearic acid, their salts and esters in the CIS, comprising 81% of total imports. The second position in the ranking was taken by Belarus ($X), with a 7.8% share of total imports. It was followed by Uzbekistan, with a 6.6% share.

From 2012 to 2021, the average annual growth rate of value in Russia totaled +1.6%. The remaining importing countries recorded the following average annual rates of imports growth: Belarus (+1.4% per year) and Uzbekistan (+26.3% per year).

Import Prices by Country

In 2021, the import price in the CIS amounted to $X per ton, surging by 19% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Belarus ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Azerbaijan (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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