Eastern Asia: 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 Eastern Asia

In 2021, the East Asian market for lauric acid and other acids, their salts and esters was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

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

In value terms, production of lauric acid and other acids, their salts and esters totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when the production volume increased by 31% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

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

Exports in Eastern Asia

Exports of lauric acid and other acids, their salts and esters expanded significantly to X tons in 2021, with an increase of 15% compared with 2020 figures. Total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +10.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +138.7% against 2012 indices. The growth pace was the most rapid in 2017 when exports increased by 29% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, exports of lauric acid and other acids, their salts and esters soared to $X in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 39% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in the near future.

Exports by Country

China (X tons) and Japan (X tons) prevails in esters structure, together generating 92% of total exports. It was distantly followed by South Korea (X tons), achieving a 7.2% share of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +14.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest lauric acid and other acids, their salts and esters supplying countries in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), together accounting for 99% of total exports.

China, with a CAGR of +11.5%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, growing by 1.7% against the previous year. Overall, the export price, however, recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when the export price increased by 35%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was South Korea ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-1.2%), while the other leaders experienced a decline in the export price figures.

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

Imports in Eastern Asia

In 2021, the amount of lauric acid and other acids, their salts and esters imported in Eastern Asia soared to X tons, increasing by 20% compared with the previous year's figure. Total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 23% against the previous year. Over the period under review, imports of attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, imports of lauric acid and other acids, their salts and esters skyrocketed to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China represented the largest importer of lauric acid and other acids, their salts and esters in Eastern Asia, with the volume of imports finishing at X tons, which was approx. 61% of total imports in 2021. Japan (X tons) held a 20% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (12%) and Taiwan (Chinese) (6.2%).

China was also the fastest-growing in terms of the lauric acid and other acids, their salts and esters imports, with a CAGR of +8.9% from 2012 to 2021. At the same time, Taiwan (Chinese) (+6.5%), Japan (+5.7%) and South Korea (+3.8%) displayed positive paces of growth. From 2012 to 2021, the share of China increased by +7.6 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported lauric acid and other acids, their salts and esters in Eastern Asia, comprising 58% of total imports. The second position in the ranking was held by Japan ($X), with a 22% share of total imports. It was followed by South Korea, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +9.3%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+2.7% per year) and South Korea (+3.1% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, surging by 30% against the previous year. In general, the import price, however, saw a slight reduction. 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 noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and South Korea ($X per ton), while China ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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