Ecuador: 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 Ecuador

In 2021, the Ecuadorian market for lauric acid and other acids, their salts and esters was finally on the rise to reach $X after two years of decline. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

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

Exports from Ecuador

In 2021, shipments abroad of lauric acid and other acids, their salts and esters decreased by -58.5% to X tons, falling for the fourth year in a row after three years of growth. Over the period under review, exports, however, showed temperate growth. The growth pace was the most rapid in 2013 when exports increased by 883%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, exports of lauric acid and other acids, their salts and esters fell notably to $X in 2021. In general, exports continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2013 when exports increased by 648%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Peru (X tons) was the main destination for exports of lauric acid and other acids, their salts and esters from Ecuador, accounting for a 97% share of total exports. It was followed by Colombia (X kg), with a 2.9% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Peru amounted to +37.3%.

In value terms, the largest markets for lauric acid and other acids, their salts and esters exported from Ecuador were Peru ($X) and Colombia ($X).

Peru, with a CAGR of +36.5%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average export price for lauric acid and other acids, their salts and esters stood at $X per ton in 2021, shrinking by -3.9% against the previous year. Over the period under review, the export price continues to indicate a noticeable setback. The pace of growth was the most pronounced in 2014 an increase of 33% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Colombia ($X per ton), while the average price for exports to Peru amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+31.1%), while the prices for the other major destinations experienced a decline.

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

Imports into Ecuador

In 2021, purchases abroad of lauric acid and other acids, their salts and esters was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, saw a perceptible setback. Over the period under review, imports of reached the peak figure at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of lauric acid and other acids, their salts and esters soared to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest lauric acid and other acids, their salts and esters supplier to Ecuador, with a 28% share of total imports. Moreover, imports of lauric acid and other acids, their salts and esters from the Netherlands exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. Denmark (X tons) ranked third in terms of total imports with a 7.3% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands stood at -13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+7.5% per year) and Denmark (+4.5% per year).

In value terms, Germany ($X), the Netherlands ($X) and the United States ($X) appeared to be the largest lauric acid and other acids, their salts and esters suppliers to Ecuador, together accounting for 47% of total imports.

In terms of the main suppliers, Germany, with a CAGR of +17.3%, saw 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 average import price for lauric acid and other acids, their salts and esters stood at $X per ton in 2021, picking up by 24% against the previous year. In general, import price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for lauric acid and other acids, their salts and esters decreased by -11.8% against 2019 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by 34% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+20.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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