Eastern Europe: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Eastern Europe

The East European industrial stearic acid market skyrocketed to $X in 2021, growing by 58% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Industrial Stearic Acid Production in Eastern Europe

In value terms, industrial stearic acid production declined to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2020 when the production volume increased by 18%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Industrial Stearic Acid Exports

Exports in Eastern Europe

After two years of decline, overseas shipments of industrial stearic acid increased by 14% to X tons in 2021. In general, exports, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 20% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, industrial stearic acid exports surged to $X in 2021. Overall, exports, however, continue to indicate a drastic downturn. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Lithuania was the largest exporting country with an export of about X tons, which finished at 59% of total exports. The Czech Republic (X tons) ranks second in terms of the total exports with a 20% share, followed by Russia (9.3%) and Poland (7.6%). Slovakia (X tons) followed a long way behind the leaders.

Exports from Lithuania decreased at an average annual rate of -2.8% from 2012 to 2021. At the same time, Russia (+61.7%), Slovakia (+28.6%) and Poland (+6.8%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +61.7% from 2012-2021. By contrast, the Czech Republic (-16.6%) illustrated a downward trend over the same period. While the share of Lithuania (+18 p.p.), Russia (+9.2 p.p.), Poland (+5.3 p.p.) and Slovakia (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the Czech Republic (-34.9 p.p.) displayed negative dynamics.

In value terms, Lithuania ($X) remains the largest industrial stearic acid supplier in Eastern Europe, comprising 57% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 21% share of total exports. It was followed by Russia, with a 10% share.

From 2012 to 2021, the average annual growth rate of value in Lithuania totaled -2.4%. The remaining exporting countries recorded the following average annual rates of exports growth: the Czech Republic (-14.5% per year) and Russia (+55.4% per year).

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, increasing by 43% against the previous year. Export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.3% 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 +63.1% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Russia ($X per ton) and the Czech Republic ($X per ton), while Slovakia ($X per ton) and Lithuania ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+2.5%), while the other leaders experienced mixed trends in the export price figures.

Industrial Stearic Acid Imports

Imports in Eastern Europe

Industrial stearic acid imports surged to X tons in 2021, picking up by 26% against 2020 figures. Total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +5.3% 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.

In value terms, industrial stearic acid imports soared to $X in 2021. Over the period under review, imports enjoyed a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Russia (X tons) and Poland (X tons) were the major importers of industrial stearic acid in Eastern Europe, together finishing at approx. 59% of total imports. The Czech Republic (X tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Lithuania (7.7%) and Latvia (7.1%). Ukraine (X tons) and Slovakia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Latvia (with a CAGR of +29.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Poland ($X) and the Czech Republic ($X) were the countries with the highest levels of imports in 2021, together comprising 70% of total imports. Latvia, Lithuania, Ukraine and Slovakia lagged somewhat behind, together accounting for a further 21%.

Latvia, with a CAGR of +32.4%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Eastern Europe amounted to $X per ton, increasing by 45% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Latvia ($X per ton) and the Czech Republic ($X per ton), while Lithuania ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Latvia (+1.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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