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

Market Size for Palmitic Acid, Stearic Acid, Their Salts And Esters in the Dominican Republic

In 2021, the Dominican market for palmitic acid, stearic acid, their salts and esters was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption saw a buoyant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

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

Exports from the Dominican Republic

In 2021, shipments abroad of palmitic acid, stearic acid, their salts and esters decreased by -54.6% to X tons, falling for the second consecutive year after two years of growth. In general, exports, however, saw a prominent expansion. The growth pace was the most rapid in 2013 with an increase of 827%. Over the period under review, the exports of attained the maximum at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, exports of palmitic acid, stearic acid, their salts and esters declined remarkably to $X in 2021. Overall, exports, however, recorded a prominent expansion. The growth pace was the most rapid in 2013 when exports increased by 329%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Haiti (X tons) was the main destination for exports of palmitic acid, stearic acid, their salts and esters from the Dominican Republic, accounting for a 88% share of total exports. Moreover, exports of palmitic acid, stearic acid, their salts and esters to Haiti exceeded the volume sent to the second major destination, Guatemala (X kg), eightfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Haiti totaled +40.8%.

In value terms, Haiti ($X) remains the key foreign market for palmitic acid, stearic acid, their salts and esters exports from the Dominican Republic, comprising 87% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Haiti totaled +17.6%.

Export Prices by Country

In 2021, the average export price for palmitic acid, stearic acid, their salts and esters amounted to $X per ton, with an increase of 33% against the previous year. Overall, the export price, however, saw a noticeable slump. The pace of growth appeared the most rapid in 2020 an increase of 33%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Haiti totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+2.0%).

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

Imports into the Dominican Republic

In 2021, after two years of decline, there was significant growth in overseas purchases of palmitic acid, stearic acid, their salts and esters, when their volume increased by 765% to X tons. Overall, imports enjoyed prominent growth. As a result, imports attained 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 skyrocketed to $X in 2021. Over the period under review, imports saw prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest supplier of palmitic acid, stearic acid, their salts and esters to the Dominican Republic, with a 62% share of total imports. Moreover, imports of palmitic acid, stearic acid, their salts and esters from Malaysia exceeded the figures recorded by the second-largest supplier, Mexico (X tons), sevenfold. The third position in this ranking was held by Turkey (X tons), with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Malaysia amounted to +23.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+7.8% per year) and Turkey (+15.4% per year).

In value terms, Malaysia ($X) constituted the largest supplier of palmitic acid, stearic acid, their salts and esters to the Dominican Republic, comprising 48% of total imports. The second position in the ranking was taken by Mexico ($X), with a 12% share of total imports. It was followed by the Netherlands, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Malaysia stood at +16.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+8.6% per year) and the Netherlands (+14.2% 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, which is down by -18.8% against the previous year. Overall, the import price recorded a noticeable slump. The most prominent rate of growth was recorded in 2019 an increase of 14% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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