Eastern Europe: 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 Europe

In 2021, the East European market for lauric acid and other acids, their salts and esters increased by 7% to $X, rising for the sixth year in a row after two years of decline. The market value increased at an average annual rate of +2.6% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2021 and is likely to see steady growth in years to come.

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

In value terms, production of lauric acid and other acids, their salts and esters fell modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2019 with an increase of 15% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production of growth failed to regain momentum.

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

Exports in Eastern Europe

Exports of lauric acid and other acids, their salts and esters soared to X tons in 2021, picking up by 38% compared with the previous year. Overall, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of 43%. 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. In general, exports showed a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Hungary (X tons) represented the key exporter of lauric acid and other acids, their salts and esters, comprising 68% of total exports. It was distantly followed by Lithuania (X tons) and Poland (X tons), together mixing up a 28% share of total exports. Slovakia (X tons) took a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to lauric acid and other acids, their salts and esters exports from Hungary stood at +8.9%. At the same time, Lithuania (+60.9%), Slovakia (+35.6%) and Poland (+7.4%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +60.9% from 2012-2021. From 2012 to 2021, the share of Lithuania and Slovakia increased by +18 and +1.9 percentage points, respectively.

In value terms, Hungary ($X) remains the largest lauric acid and other acids, their salts and esters supplier in Eastern Europe, comprising 76% of total exports. The second position in the ranking was held by Poland ($X), with a 9.5% share of total exports. It was followed by Lithuania, with a 7% share.

In Hungary, exports of lauric acid and other acids, their salts and esters expanded at an average annual rate of +8.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Poland (+10.3% per year) and Lithuania (+43.0% per year).

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, declining by -6.6% against the previous year. In general, the export price saw a perceptible setback. The growth pace was the most rapid in 2020 when the export price increased by 11% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+2.7%), 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 Europe

After two years of growth, overseas purchases of lauric acid and other acids, their salts and esters decreased by -8.8% to X tons in 2021. Total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +10.7% against 2018 indices. The pace of growth appeared the most rapid in 2015 when imports increased by 39%. Over the period under review, imports of reached the maximum at X tons in 2020, and then declined in the following year.

In value terms, imports of lauric acid and other acids, their salts and esters surged to $X in 2021. Total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +81.1% against 2014 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of imports of lauric acid and other acids, their salts and esters in 2021 were Russia (X tons), Poland (X tons) and Hungary (X tons), together amounting to 76% of total import. Lithuania (X tons) held the next position in the ranking, followed by the Czech Republic (X tons). All these countries together took near 10% share of total imports. The following importers - Slovakia (X tons) and Ukraine (X tons) - each resulted at an 8.2% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Slovakia (with a CAGR of +18.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Russia ($X) and Hungary ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 71% of total imports. These countries were followed by Ukraine, the Czech Republic, Slovakia and Lithuania, which together accounted for a further 18%.

Among the main importing countries, Lithuania, with a CAGR of +18.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2021, jumping by 40% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+7.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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