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

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

For the third consecutive year, the Croatian market for palmitic acid, stearic acid, their salts and esters recorded decline in sales value, which decreased by -3.4% to $X in 2021. In general, consumption continues to indicate a abrupt setback. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

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

Exports from Croatia

In 2021, shipments abroad of palmitic acid, stearic acid, their salts and esters increased by 73% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports recorded a prominent expansion. The most prominent rate of growth was recorded in 2015 with an increase of 96%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, exports of palmitic acid, stearic acid, their salts and esters surged to $X in 2021. Over the period under review, exports, however, saw a abrupt downturn. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Hungary (X tons), Slovenia (X tons) and Bosnia and Herzegovina (X tons) were the main destinations of exports of palmitic acid, stearic acid, their salts and esters from Croatia, with a combined 84% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +151.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Slovenia ($X), Hungary ($X) and Serbia ($X) constituted the largest markets for palmitic acid, stearic acid, their salts and esters exported from Croatia worldwide, with a combined 76% share of total exports.

Slovenia, with a CAGR of +84.2%, 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 export price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2021, with an increase of 3.7% against the previous year. Over the period under review, the export price, however, saw a deep downturn. The growth pace was the most rapid in 2018 an increase of 35%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to Hungary ($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 Serbia (+4.8%), while the prices for the other major destinations experienced a decline.

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

Imports into Croatia

In 2021, purchases abroad of palmitic acid, stearic acid, their salts and esters was finally on the rise to reach X tons after six years of decline. Overall, imports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2014 when imports increased by 92% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports of remained at a lower figure.

In value terms, imports of palmitic acid, stearic acid, their salts and esters soared to $X in 2021. In general, total imports indicated tangible growth from 2012 to 2021: its value 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. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Italy (X tons), South Korea (X tons) and Belgium (X tons) were the main suppliers of imports of palmitic acid, stearic acid, their salts and esters to Croatia, with a combined 73% share of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +302.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) constituted the largest supplier of palmitic acid, stearic acid, their salts and esters to Croatia, comprising 62% of total imports. The second position in the ranking was held by Austria ($X), with a 21% share of total imports. It was followed by Italy, with a 7.2% share.

From 2012 to 2021, the average annual growth rate of value from Belgium amounted to +430.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+66.4% per year) and Italy (-9.4% per year).

Import Prices by Country

The average import price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2021, growing by 39% against the previous year. Overall, the import price enjoyed a strong expansion. The pace of growth was the most pronounced in 2018 when the average import price increased by 46% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+63.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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