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

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

In 2021, the Greek market for palmitic acid, stearic acid, their salts and esters increased by 62% to $X, rising for the fourth year in a row after four years of decline. Over the period under review, consumption saw prominent growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

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

Exports from Greece

In 2021, overseas shipments of palmitic acid, stearic acid, their salts and esters increased by 56% to X tons, rising for the second consecutive year after two years of decline. Overall, exports saw a modest expansion. The most prominent rate of growth was recorded in 2016 with an increase of 191%. Over the period under review, the exports of hit record highs at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, exports of palmitic acid, stearic acid, their salts and esters rose remarkably to $X in 2021. In general, exports, however, showed a mild decline. The most prominent rate of growth was recorded in 2016 with an increase of 210% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Congo (X tons), Albania (X tons) and North Macedonia (X tons) were the main destinations of exports of palmitic acid, stearic acid, their salts and esters from Greece, together accounting for 79% of total exports. Cyprus, Serbia, Kosovo, Romania, Turkey and Bulgaria lagged somewhat behind, together comprising a further 21%.

From 2012 to 2021, the biggest increases were recorded for Cyprus (with a CAGR of +51.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Albania ($X), Congo ($X) and North Macedonia ($X) were the largest markets for palmitic acid, stearic acid, their salts and esters exported from Greece worldwide, together accounting for 71% of total exports. These countries were followed by Cyprus, Serbia, Kosovo, Romania, Bulgaria and Turkey, which together accounted for a further 29%.

Among the main countries of destination, Cyprus, with a CAGR of +36.3%, saw the highest growth rate of 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 average export price for palmitic acid, stearic acid, their salts and esters amounted to $X per ton, which is down by -30.7% against the previous year. In general, the export price saw a perceptible curtailment. The growth pace was the most rapid in 2020 when the average export price increased by 41% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while the average price for exports to Turkey ($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 Bulgaria (+4.3%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Greece

In 2021, imports of palmitic acid, stearic acid, their salts and esters into Greece skyrocketed to X tons, with an increase of 38% against the previous year. In general, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.4% 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 +83.2% against 2014 indices. As a result, imports reached the peak 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 showed a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Italy (X tons) constituted the largest palmitic acid, stearic acid, their salts and esters supplier to Greece, with a 54% share of total imports. Moreover, imports of palmitic acid, stearic acid, their salts and esters from Italy exceeded the figures recorded by the second-largest supplier, Spain (X tons), fourfold. The third position in this ranking was held by India (X tons), with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy totaled +19.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-2.1% per year) and India (+48.3% per year).

In value terms, Italy ($X), France ($X) and Spain ($X) constituted the largest palmitic acid, stearic acid, their salts and esters suppliers to Greece, together accounting for 76% of total imports. Malaysia, India, Germany and Turkey lagged somewhat behind, together comprising a further 18%.

India, with a CAGR of +50.0%, recorded the highest growth rate of 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 25% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+19.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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