Czech Republic: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in the Czech Republic

In 2021, the Czech industrial stearic acid market increased by 68% to $X, rising for the second consecutive year after seven years of decline. Over the period under review, consumption, however, saw a abrupt decline. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Industrial Stearic Acid Production in the Czech Republic

In value terms, industrial stearic acid production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2020 when the production volume increased by 17%. Industrial stearic acid production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Industrial Stearic Acid Exports

Exports from the Czech Republic

For the third consecutive year, the Czech Republic recorded decline in overseas shipments of industrial stearic acid, which decreased by -8.3% to X tons in 2021. In general, exports saw a abrupt curtailment. The growth pace was the most rapid in 2018 with an increase of 36%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, industrial stearic acid exports skyrocketed to $X in 2021. Over the period under review, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2018 when exports increased by 30% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Poland (X tons) was the main destination for industrial stearic acid exports from the Czech Republic, accounting for a 68% share of total exports. Moreover, industrial stearic acid exports to Poland exceeded the volume sent to the second major destination, Hungary (X tons), fourfold. Serbia (X tons) ranked third in terms of total exports with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume to Poland totaled -9.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (-12.1% per year) and Serbia (+9.0% per year).

In value terms, Poland ($X) remains the key foreign market for industrial stearic acid exports from the Czech Republic, comprising 62% of total exports. The second position in the ranking was taken by Hungary ($X), with a 23% share of total exports. It was followed by Serbia, with a 7.5% share.

From 2012 to 2021, the average annual growth rate of value to Poland totaled -7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (-8.0% per year) and Serbia (+8.8% per year).

Export Prices by Country

The average industrial stearic acid export price stood at $X per ton in 2021, increasing by 40% against the previous year. In general, export price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial stearic acid export price increased by +83.2% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Slovakia ($X per ton), while the average price for exports to Serbia ($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 Slovakia (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Stearic Acid Imports

Imports into the Czech Republic

In 2021, approx. X tons of industrial stearic acid were imported into the Czech Republic; jumping by 29% on the previous year. Over the period under review, imports enjoyed buoyant growth. The growth pace was the most rapid in 2019 with an increase of 82% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, industrial stearic acid imports surged to $X in 2021. In general, imports recorded a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of industrial stearic acid to the Czech Republic, accounting for a 48% share of total imports. Moreover, industrial stearic acid imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. The third position in this ranking was taken by Belgium (X tons), with a 16% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+97.3% per year) and Belgium (+13.1% per year).

In value terms, Germany ($X) constituted the largest supplier of industrial stearic acid to the Czech Republic, comprising 46% of total imports. The second position in the ranking was taken by Italy ($X), with a 19% share of total imports. It was followed by Belgium, with a 16% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+96.8% per year) and Belgium (+15.4% per year).

Import Prices by Country

In 2021, the average industrial stearic acid import price amounted to $X per ton, picking up by 55% against the previous year. Overall, import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial stearic acid import price increased by +67.4% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Luxembourg ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Luxembourg (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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