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

Market Size for Palmitic Acid, Stearic Acid, Their Salts And Esters in Ecuador

The Ecuadorian market for palmitic acid, stearic acid, their salts and esters soared to $X in 2021, increasing by 81% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a remarkable increase. Consumption of peaked in 2021 and is likely to continue growth in the near future.

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

Exports from Ecuador

In 2021, after two years of decline, there was significant growth in overseas shipments of palmitic acid, stearic acid, their salts and esters, when their volume increased by 30% to X kg. In general, exports, however, faced a dramatic decrease. The most prominent rate of growth was recorded in 2013 when exports increased by 271%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of palmitic acid, stearic acid, their salts and esters declined modestly to $X in 2021. Over the period under review, exports, however, continue to indicate a precipitous contraction. The growth pace was the most rapid in 2016 when exports increased by 284%. Over the period under review, the exports of attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Peru (X kg), Colombia (X kg) and Spain (X kg) were the main destinations of exports of palmitic acid, stearic acid, their salts and esters from Ecuador, together comprising 88% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of 0.0%), while the other leaders experienced mixed trend patterns.

In value terms, Peru ($X) remains the key foreign market for palmitic acid, stearic acid, their salts and esters exports from Ecuador, comprising 72% of total exports. The second position in the ranking was held by Colombia ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Peru stood at -21.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-33.8% per year) and Spain (0.0% per year).

Export Prices by Country

The average export price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2021, declining by -25.5% against the previous year. Overall, the export price continues to indicate a perceptible setback. The pace of growth was the most pronounced in 2019 an increase of 25% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020, and then dropped remarkably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+2.2%), while the prices for the other major destinations experienced a decline.

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

Imports into Ecuador

In 2021, imports of palmitic acid, stearic acid, their salts and esters into Ecuador soared to X tons, increasing by 58% on 2020. Over the period under review, imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 67% against the previous year. Imports peaked in 2021 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. Overall, imports saw resilient growth. The most prominent rate of growth was recorded in 2016 when imports increased by 90% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

Colombia (X tons), Indonesia (X tons) and Peru (X tons) were the main suppliers of imports of palmitic acid, stearic acid, their salts and esters to Ecuador, with a combined 69% share of total imports. These countries were followed by the United States, China, Malaysia and Mexico, which together accounted for a further 25%.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +51.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Colombia ($X) and Indonesia ($X) were the largest palmitic acid, stearic acid, their salts and esters suppliers to Ecuador, together accounting for 74% of total imports. The United States, Malaysia, China and Mexico lagged somewhat behind, together comprising a further 19%.

Mexico, with a CAGR of +34.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for palmitic acid, stearic acid, their salts and esters amounted to $X per ton, picking up by 19% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 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 Peru ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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