Europe: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Europe

In 2021, the Europe industrial stearic acid market increased by 6.8% to $X, rising for the third year in a row after six years of decline. In general, consumption, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 9.7% against the previous year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Industrial Stearic Acid Production in Europe

In value terms, industrial stearic acid production shrank slightly to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 19% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Industrial Stearic Acid Exports

Exports in Europe

In 2021, overseas shipments of industrial stearic acid increased by 13% to X tons, rising for the sixth consecutive year after two years of decline. Overall, exports showed a relatively flat trend pattern. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, industrial stearic acid exports skyrocketed to $X in 2021. Over the period under review, exports saw a mild expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, the Netherlands (X tons) was the main exporter of industrial stearic acid, making up 38% of total exports. Sweden (X tons) held the second position in the ranking, followed by Germany (X tons) and Italy (X tons). All these countries together took approx. 49% share of total exports. Lithuania (X tons), Denmark (X tons) and Spain (X tons) held a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of +4.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Sweden ($X) and Germany ($X) constituted the countries with the highest levels of exports in 2021, together comprising 75% of total exports. Italy, Lithuania, Denmark and Spain lagged somewhat behind, together comprising a further 18%.

Among the main exporting countries, Denmark, with a CAGR of +6.5%, saw the highest rates of growth with regard to the value of exports, 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 Europe amounted to $X per ton, jumping by 35% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. 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 Spain ($X per ton) and Germany ($X per ton), while Italy ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+3.5%), while the other leaders experienced more modest paces of growth.

Industrial Stearic Acid Imports

Imports in Europe

In 2021, the amount of industrial stearic acid imported in Europe skyrocketed to X tons, growing by 15% compared with 2020. The total import volume increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, industrial stearic acid imports surged to $X in 2021. Total imports indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +81.6% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands (X tons) and Germany (X tons) represented roughly 45% of total imports in 2021. It was distantly followed by Russia (X tons), Poland (X tons) and the UK (X tons), together mixing up a 20% share of total imports. The following importers - France (X tons), Italy (X tons), Belgium (X tons), Denmark (X tons), the Czech Republic (X tons), Spain (X tons), Lithuania (X tons) and Latvia (X tons) - together made up 26% of total imports.

From 2012 to 2021, the biggest increases were recorded for Latvia (with a CAGR of +29.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and Russia ($X) were the countries with the highest levels of imports in 2021, with a combined 48% share of total imports. These countries were followed by Poland, the UK, Italy, France, Belgium, Denmark, the Czech Republic, Spain, Latvia and Lithuania, which together accounted for a further 41%.

Latvia, with a CAGR of +32.4%, saw the highest growth rate of the value of imports, in terms of 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 Europe amounted to $X per ton, increasing by 44% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Spain ($X per ton) and Denmark ($X per ton), while the Netherlands ($X per ton) and Lithuania ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform